Maybe ITV could do a programme called the taX factor!
Reposted from the Mirror
The musicians avoided tax on about £63million from world tours and CD sales thanks to ‘music-industry investment schemes’
Gary Barlow and two other Take That stars face having to pay back tens of millions of pounds in tax after a court ruled they were part of a massive tax avoidance scheme.
But the ventures were artificial tax shelters for the super-rich which allowed the musicians to avoid tax on about £63million from world tours and CD sales.
The Take That members are likely to be ordered to repay more than £20million to HM Revenue & Customs.
Tax judge Colin Bishopp rejected arguments that more than 50 partnerships, set up by a company called Icebreaker Management, had been set up for commercial purposes.
He said: “Icebreaker is, and was known and understood by all concerned to be, a tax avoidance scheme.
“The aim was to secure [tax] relief for members, and to inflate the scale of the relief by unnecessary borrowing.”
Icebreaker partnerships did not make any profit despite investing in artists from unknowns to world famous stars like Sinead O’Connor, the judge found.
They made more than £300million for almost 1,000 investors.
Barlow, Donald and Owen had previously channelled £6.5million into a “highly aggressive” tax scheme called Liberty.
There is no suggestion that the other Take That members, Jason Orange and Robbie Williams, were investors.
Barlow, who was appointed OBE in 2012 for services to music and charity, was the biggest investor of the group members in both schemes.
The former X Factor judge, 43, is worth £60million according to the Sunday Times Rich List 2013.
In the past he has been praised for raising millions for charity in the UK.
Barlow’s fundraising efforts for BBC Children in Need included concerts with star names playing for free. In 2013 they raised over £1.7 million and were described by the BBC as “amazing”.
In 2012 he arranged the Queen’s Jubilee concert and released charity single Sing which sold around 350,000 copies.
Barlow’s charity efforts in 2009, including his organising of the BT Comic Relief Kilimanjaro Climb and his organising of ‘Children in Need Rocks’, raised in excess £6 million.
He was appointed an Officer of the Order of the British Empire (OBE) by Queen Elizabeth II on 16 June 2012, which he was awarded on 21 November for “services to Music and to Charity”.
A spokesman for Take That declined to comment.