CHERYL Tweedy is facing a huge tax demand after HMRC won a legal battle over her alleged avoidance schemes. The former X Factor judge may have to pay back taxes after HM Revenue & Customs won the test case, according to reports.
Cheryl, 38, was accused of making use of an artificial employee bonus scheme for her personal company, CC Entertainments. It meant the company allegedly paid capital gains tax instead of the pricier income tax and National Insurance.
A tax tribunal ruling in favour of HMRC has now been released Judge Jennifer Dean noted: "The appeal of CC Entertainments is a straightforward 'profit extraction' case where the single 100 per cent shareholder [Tweedy] signed a contract of employment and was awarded a Growth Securities Ownership Plan said to qualify as an employment-related security." HMRC can now ask her for back tax, including compound interest, but not fines or penalties.
Read more on thesun.co.uk
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