One Direction members Louis Tomlinson, Harry Styles, Liam Payne, and Niall Horan are hitting the headlines for tax related issue.
According to Daily Mail, One Direction will be encountering an investigation from the taxman because the band is involved in ?alphabet? shares scheme. One Direction?s Harry Styles, Louis Tomlinson, Niall Horan and Liam Payne are shareholders in ?alphabet? scheme. ?Alphabet? helps the shareholder to invest the money in different kinds of dividend payouts. In the United Kingdom, the tax authorities are not really happy for schemes like ?alphabet?. Because such schemes can hide the money from concerned bodies, Inquisitr reported.
However, there is no strong evidence as such to show that One Direction guys and their former teammate Zayn malik used ?alphabet? scheme to get escaped from the tax. One Direction earned around ?74 million in 2014 as well as paid ?10 million in tax. The amount of tax paid by the band is more than a top company like. The tax amount paid by One Direction is somewhat equal to Facebook and Amazon. But if we compared it to One Direction’s income, ?what they paid as tax is nothing.
Ex-HMRC tax specialist Neil Tipping said that government is not supporting Alphabet share. Because these kinds of things will make the taxing procedure complex and controversial, according to The Sun. ?In light of the millions of pounds One Direction make every year, I?d expect investigators to look at their structure very closely indeed,? he added. He also revealed that HMRC is not in favor of alphabet scheme since many years. ?The new share classes have been set up to account for Zayn?s departure from the band and to differentiate his right to receive income,? a One Direction source said.
Will One Direction guys prove that they have not avoided any tax? Share your comments with us.