Author Topic: Gary Barlow and Take That stars face paying £20m as court rules they avoided tax  (Read 914 times)

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Pete

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    • Peter Maycock - Chesterfield
"The musicians avoided tax on about £63million from world tours and CD sales thanks to 'music-industry investment schemes'

Gary Barlow and two other Take That stars face having to pay back tens of millions of pounds in tax after a court ruled they were part of a massive tax avoidance scheme.

The singer-songwriter, Howard Donald, Mark Owen and manager Jonathan Wild poured £66million into two partnerships styled as music-industry investment schemes.

But the ventures were artificial tax shelters for the super-rich which allowed the musicians to avoid tax on about £63million from world tours and CD sales.

The Take That members are likely to be ordered to repay more than £20million to HM Revenue & Customs.

Tax judge Colin Bishopp rejected arguments that more than 50 partnerships, set up by a company called Icebreaker Management, had been set up for commercial purposes.

He said: “Icebreaker is, and was known and understood by all concerned to be, a tax avoidance scheme."


Never liked the man - mainly because of his support for the nasty party - typical behaviour from the very rich again.

Funny how ordinary folks pay their taxes despite not being very well off - but those with millions don't want to pay any tax at all.
I started out with nothing and I've still got most of it left.

Slacker

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Difference between celebs now and those 40 odd years ago, now they are fiddling taxes, then they were fiddling with children. Chances are the majority will get away with it in both cases.

 

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