Celebrities “regularly” dodge tax, says TUC
The TUC publishes a spoof celebrity magazine, outlining the methods corporations and the famous use to dodge tax
The TUC publishes a spoof celebrity magazine, outlining the methods corporations and the famous use to dodge tax
CELEBRITIES and corporations frequently use complex tax arrangements in order to reduce their effective tax rate, according to a study by the Trades Union Congress.
In a spoof magazine entitled Kerching!, the TUC outlined the most popular methods “regularly employed” by celebrities in “a celebrity guide to tax dodging”, reports the Press Association.
The most popular techniques, according to the TUC, include diverting funds through tax havens such as the Bahamas and Panama, sports stars paying tax separately on their image rights, and paying income to a wife or civil partner.
Many are non-domiciles, allowing them to live in the UK and keep most of their income offshore.
TUC general secretary Brendan Barber called on the chancellor to take action and “close down the multiple loopholes which super-rich celebrities and their accountants jump through” in order bring that money back to the public purse.
He added: “The overwhelming majority of people in the UK have little choice over the amount of tax they pay and unlike big corporations and super-rich celebrities don’t have the means to employ expensive accountants to help them avoid paying their fair share of tax.”
More about:
The numbers you crunch tell a story. Your expertis...
12yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleWith proposals for an Amazon tax on the table, how can the UK tax system catch up with the implications of the Fourth Industrial Revolution? Read More...
View articleGlobal corporations are under increasing scrutiny over how much corporation tax they pay. So who are the latest big names hitting the headlines over t...
View articleThe EU is deeply divided over how to increase the tax take from tech giants such as Google, Apple and Amazon, who have recently come under fire for be...
View articleTo avoid falling foul of HMRC's tax crackdown, small businesses now have to be much more vigilant when it comes to tax matters, and it's an ideal oppo...
View articleLaw firm warns that HMRC focus on entrepreneur’s relief could prompt increase in avoidance scheme usage Read More...
View articleDiverted profits tax revenue collected by HMRC in 2016-17 totalled £281m, leaping from £31m collected in the previous year, according to data released...
View articleBillions of pounds of infrastructure investment planned; but tax tinkering still looms following Philip Hammond's first Autumn Statement Read More...
View articleAs advisers prepare for another Autumn Statement, they and their clients hope to avoid the grip of more red tape Read More...
View article