Treasury threatens celebrity tax crackdown which could cost top stars millions
dailyrecord.co.ukbiggest stars are being threatened with a crackdown on their tax affairs which could see them paying millions more pounds to the Treasury.A string of celebrities channel their earnings through limited companies with just one director and shareholder – themselves.They include I’m a Celeb hosts Anthony McPartlin and Declan Donnelly, who pay their TV earnings into two identical firms which contain nearly £48million in cash and investments, according to the latest accounts.The duo will have paid 19 per cent corporation tax on the profits but will not have to pay income tax – 45 per cent for top earners – unless they decide to pay it to themselves, delaying and possibly reducing a £12million tax bill.This is legitimate tax planning and there is.
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