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Let’s blame the economic collapse on Jimmy Carr and Take That

HAVING shone a harsh light on Jimmy Carr’s tax affairs, the Times leads with “Taxman v Take That”. No, not a fight to the death – in which case we’d place a fiver on Take That – rather news that Gary Barlow, Howard Donald and Mark Owen, three of the group’s members, invested “at least £26m in a “scheme that…is a mechanism for tax avoidance“.

The Times believes that Carr and Mark Owen’s private tax matters are important enough to be front-page news.

It’s all about loans: the client loans money into a scheme, in Take That’s instance, one run by Icebreaker Management Services, who then loans the money back to the client’s companies. As a loan, the money is not liable for tax.

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Posted: 20th, June 2012 | In: Money | Comment