Celebrities named in new tax avoidance scandal

Emma Woollacott
Updated
Celebrities including George Michael, Sir Michael Caine and Gary Barlow have been named by the Times as members of an aggressive tax avoidance scheme
Celebrities including George Michael, Sir Michael Caine and Gary Barlow have been named by the Times as members of an aggressive tax avoidance scheme

Celebrities including George Michael, Sir Michael Caine and Gary Barlow have been named by the Times as members of an aggressive tax avoidance scheme.

The Liberty scheme, run by Leeds-based Mercury Tax Group between 2005 and 2009, allowed investors to rack up huge offshore losses that could be written off against their tax bills. It allowed investors to reduce the amount they paid in tax to 7% rather than 40%, while higher rate taxpayers could earn £1 million each year tax free.

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