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Jetting Off to Paradise…

The tax dealings of several high profile people and companies in the UK has hit the news, some are calling it the “Paradise Papers.”

Of course, this comes on the back of the so called “Panama Papers,” which were released last year and gave us more of an insight into the potential wrongdoings of celebs and high profile figures.

It has long been an accusation flung at millionaires and billionaires in the UK, with rumours of offshore accounts and complicated tax structures. No doubt they hire good accountants, but who knows for sure what is going on. Nothing has been proven in a court of law as far as I’m concerned.

Many experts have reported that those in the “Paradise Papers” have sent money to offshore accounts in some of the nicest places on Earth. Take Mauritius as an example, one beach resort where many people would like to jet off to, especially as the UK winter starts to take hold.

Apparently though, it isn’t shorts and sunglasses in the suitcases…it’s millions in cash. So they say anyway.

Take her royal highness, the Queen, who was named in these papers as one of the people who has sent money abroad. £10 million to be exact, which found its way to the Cayman Islands in 2005.

A spokesperson for the Queen has responded to the criticism by commenting that any investment was “fully audited and legitimate.”

From sitting on the throne to sitting behind the wheel of a Formula 1 car…the next person connected with paradise was none other than Lewis Hamilton.

One pundit noted how Lewis purchased a £17 million private jet, but avoided paying any tax on it in the UK. Who knows for sure what happened? A spokesperson for the driver did say that all was “above board” regarding the transaction.

No doubt Lewis Hamilton couldn’t resist getting his very own private jet, but what about buying a shopping centre? That is what world renown musician Bono did, who decided that Lithuania was the place to invest in retail.

They say it was purchased through a company in Malta, where tax is much lower than the UK. However, Bono AKA Paul Hewson has gone on record to state “I’ve been assured by those running the company that it is fully tax compliant.”

Good for him, and just as a side note, if you find yourself in a Lithuanian shopping centre and U2 is playing nonstop in the background, then you know why.

Another set of names mentioned in the “Paradise Papers” was some of the stars of BBC sitcom Mrs Brown’s Boys.

As regular readers of this blog will be only too aware, I’ve reported on the potential tax failings of BBC stars before. Could it be they have found new ways to avoid paying tax? Who knows for sure, only a court of law can decide that.

Most contractors and freelancers are not jetting off to paradise any time soon and they are not sending off a suitcase of cash. Instead, they are only bothered about finding a quality accountant to look after their finances. All above board and legitimate…find one right here at this site.

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