I’ll give the tax ‘back for good’
Much loved pop singer Gary Barlow says sorry following reports that he, along with bandmates Mark Owen, Howard Donald and the group’s manager Jonathan Wild, invested over £26 million in what was essentially a tax avoidance scheme.
Mr Barlow, who has to date made no comment on the matter, took to Twitter to break his silence. “I want to apologise to anyone who has been offended by the tax stories earlier this year.” He went on to say that he is now working with a new accountant and is keen to resolve the issue “ASAP.” The story broke earlier in the year claiming that the three bandmates along with their manager were amongst almost 1000 others in the scheme known as ‘Icebreaker.’ They paid into schemes which professed to support the music industry; however a tribunal concluded that the scheme had effectively been set up for tax avoidance purposes. An investigation into the accusation suggests that from March 2010 all four men are named as directors Of Larkdale LLP, one of many partnerships under Icebreaker. The findings of the tribunal suggested that shortly after funds were pumped into Larkdale LL; it reported losses of over £25 million. Calls for Gary Barlow to be stripped of his OBE have been rejected by Prime Minister David Cameron; the previously squeaky clean singer is currently working on a Broadway production of ‘Finding Neverland’ and has spent the past 7 weeks in the US.