Thursday, 27 August 2020

Ant McPartlin and Declan Donnelly 'are among celebs threatened with tax crackdown



Ant McPartlin and Declan Donnelly are reportedly among the celebrities being threatened with a crackdown on their tax affairs as they channel their fortunes through limited companies and use themselves as the directors and shareholders. 

According to new reports, the TV veterans, both 44, pay their earnings, which are believed to total almost £48 million in cash and investments, into their respective companies Deecourt Limited and Teecourt Limited. 

The duo will have paid 19% corporation tax but won't have to pay income tax - which stands at 45% for those who earn over £150,000 a year - unless they pay it to themselves, which could delay and reduce a whopping £12 million bill. 

The latest accounts of TV star Dec's company is said to hold £10.6 million in cash and £16.3 million in investments, while his sidekick's business has £9.3 million in cash and £11.6 million in assets. 

In April, presenter Ant filed paperwork to cease trading with his company after finalising his divorce from Lisa Armstrong. 
 

The media personalities' beneficial tax planning is permitted and there is no suggestion they are breaking laws.

The manager of one star, who wished to remain anonymous, told The Mirror: 'He has made no money so far this year and I am not looking at booking shows until April. 





SOURCE

No comments:

Post a comment