Comic Jimmy Carr to pay £500,000 tax bill
COMEDIAN JIMMY CARR is to pay around £500,000 in tax after leaving the controversial K2 tax avoidance scheme that left him paying a rate of just 1%. As a result, his company is now paying full corporation tax. The legal, but infamously “morally repugnant” scheme worked by transferring salaries into a Jersey-based trust, which lent investors back the money. As the loan could technically be recalled, it was not subject to income tax….
Read more here: Accountancy Age