Gary Barlow and others in trouble

[WalterWhite]

Have we done this?

Celebrities lose millions after tax avoidance court ruling | Daily Mail Online

[ladymuck]

Was that an avoidance or an evasion scheme?

[northernladyuk]

Was that an avoidance or an evasion scheme?

It all seems perfectly reasonable and above board.

The scheme, promoted to high earners by Mercury Tax Group, involved a limited partnership that was registered in Jersey and was claiming to carry out trade in the UK.

Each of the users of the scheme contributed a sum which was used, with a large bank loan, to acquire rights to dividends declared by a company registered in the Cayman Islands.

The partnership claimed a deduction for the cost of purchasing the dividend rights but tried to exclude the dividends received from its trading results, creating a loss which was used to reduce users' tax bills.

[Jog On]

They're obviously not in 'the club'. What does it take to get into 'the club' these days? Is it just money or are there dodgy underground initiation rituals involved as well?