RegulationLegalTaking Stock: I want your tax; I want your tax for good, sings HMRC

Taking Stock: I want your tax; I want your tax for good, sings HMRC

Take That have been singing to HMRC's tune in recent months

RELIGHT my Fire, Could it be Magic and Pray are just a few of Take That’s most loveable hits, but the biggest hit the boy band has taken in recent years is a £20m payment to the taxman.

Gary Barlow, Mark Owen, Howard Donald and the boy band’s manager Jonathan Wild were hit with some bad news in 2014, as a tribunal ruled that that a controversial film investment scheme that they were all involved in was “known and understood by all concerned to be a tax avoidance scheme”.

According to the Sunday Times, the trio and their manager have been repaying the money back to HMRC since the beginning of this year, with an estimated £20m having already been paid back.

The controversy led to calls for Barlow’s OBE to be stripped from him, but in 2014 he said: “I want to apologise to anyone who was offended by the tax stories earlier this year.

“With a new team of accountants, we are working to settle things with all parties involved ASAP.”

TS hopes that all his fans, his accountants and HMRC have a little patience…

Related Articles

How will Uber’s employment appeal loss affect its business model?

Legal How will Uber’s employment appeal loss affect its business model?

2w Alia Shoaib, Reporter
HMRC victorious in £1.25bn VAT dispute with Littlewoods

HMRC HMRC victorious in £1.25bn VAT dispute with Littlewoods

3w Alia Shoaib, Reporter
KPMG and Barclays sued for 'engineering' administration of quarrying company

Big Four KPMG and Barclays sued for 'engineering' administration of quarrying company

1m Alia Shoaib, Reporter
Anti-money laundering legislation may create a two-tier regime

Legal Anti-money laundering legislation may create a two-tier regime

3m Alia Shoaib, Reporter
Court upholds ruling against HMRC’s position in Sports Direct EU VAT case

HMRC Court upholds ruling against HMRC’s position in Sports Direct EU VAT case

3m Alia Shoaib, Reporter
The great professional services shake-up

Accounting Standards The great professional services shake-up

2m Fergus Payne, Lewis Silkin
Finance Bill (No.2) to be published Friday 8 September

Legal Finance Bill (No.2) to be published Friday 8 September

3m Alia Shoaib, Reporter
HMRC wins 22 out of 26 tax avoidance cases in 2016-17

HMRC HMRC wins 22 out of 26 tax avoidance cases in 2016-17

3m Alia Shoaib, Reporter