Take That face backlash as €25m tax bill remains unpaid
Published 26/04/2015 | 16:16
Take That have still not paid back any of the outstanding €25m tax bill they owe from a controversial 'investment' scheme.
The Mirror reports that the trio may take up to two years to repay the tax owed on the Icebreaker scheme which was judged to be 'designed to exploit legal loopholes'.
Gary Barlow, Howard Donald and Mark Owen are among a group of 1000 investors, including other celebrities, who have been ordered to pay back the money they owe.
But while several other stars appeal, the Take That stars have chosen not to appeal.
However, they are reported to be "waiting for the dust to settle" regarding the appeals before they pay back the money.
Barlow addressed the issue on Twitter last September, telling fans, "I want to apologise to anyone who was offended by the tax stories earlier this year."
He wrote, "With a new team of accountants we are working to settle things with all parties involved ASAP".
Icebreaker used money which was meant to boost the UK's creative industries to gain tax reliefs - money invested in the scheme was not subject to income tax.
Losses from the investment could then be offset against tax on their main earnings but many investors in the scheme have claimed they were unaware of any rule breaking.
A spokesperson for Gary Barlow, Mark Owen, and Howard Donald, have issued the following statement, "I can confirm that Gary Barlow, Mark Owen and Howard Donald have now received confirmation from HMRC that their tax affairs are fully up to date."
The spokesperon also confirms that Take That have not appealed the Icebreaker decision and are not part of the ongoing appeal process.
Take That kick off their latest tour tomorrow and will play four dates in Ireland next month.