Al Capone. Al Capone is likely the most notorious tax evader in history. Although well-known as the king of Chicago gangsters, the federal government couldn't put together any criminal charges that would stick until they nailed Capone for failing to pay taxes.
Notably, the judge acknowledged that Lineker had paid all his taxes, saying: "For each tax year, Mr Lineker accounted for income tax and Class 4 NIC on the entirety of the income from his services, less a fixed amount of £30,000, paid to his then wife, Ms Bux (and on which she paid tax)."
David Beckham was reportedly overlooked for a knighthood because of an investment in a film scheme considered tax avoidance by HRMC. It is calculated the Beckhams paid a total of £12.7m of tax, due from their dividends and other levies in the accounts of their two principal companies.
In 2020/21, HMRC estimated that around 31,000 individuals and 1,000 employers were using tax avoidance schemes – which was a huge dip from the previous years.
You will get a letter from HMRC telling you that you are under investigation for suspected tax fraud. A number of things can trigger this: Inconsistencies on your tax return, a tip off from someone, an HMRC focus on your industry, or something highlighted by Connect.
It's time to shine the spotlight on a wrinkle in the tax code that catches out a lot of unsuspecting people every year. We call it the 60% tax trap. What do we mean? Well, for those whose earnings go beyond £100,000 in any tax year, some of their income will effectively be taxed at an eye-watering 60%.
The net worth of Britain's biggest taxpayer, Alex Gerko, has almost doubled to £8.5 billion in the space of a year, according to the latest Bloomberg Billionaires Index.
Mr Gerko took the mantle of biggest UK tax payer from Denise Coates, the founder of gambling website Bet365, who had topped the list for three consecutive years. With relatives, she has paid almost £2bn in tax since 2019. Over the same time period Mr Gerko is estimated to have paid almost £680m.
Adele paid £4m in UK taxes last year. Yep, that puts her in the same tax league as social media giant Facebook. As well as being a singer-songwriter she also owns her own publishing company. So the 28-year-old not only makes money from her record sales but from her lyrics, sheet music and royalties.
You do not pay tax on things like: the first £1,000 of income from self-employment - this is your 'trading allowance' the first £1,000 of income from property you rent (unless you're using the Rent a Room Scheme) income from tax-exempt accounts, like Individual Savings Accounts (ISAs) and National Savings Certificates.
Gary Lineker has won his battle with HMRC over a £4.9m tax bill. The tax authorities had told the Match of the Day host, who operates his own company and works on a freelance basis for the BBC and BT Sport, that he should have been classed as an employee.
On 16 November 2022, the former premier league and Norwegian international footballer John Carew was jailed in Norway for tax evasion. The Norwegian national was also sentenced to pay a fine of approximately £46,000.
Two company directors who lied to HM Revenue and Customs (HMRC) when under investigation for possible tax offences have been jailed for tax evasion and fraud. The pair ran a successful IT firm. When they were investigated, they were, as is usual, required to prepare a statement of assets showing all their assets.
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.
Côte d'Ivoire is the highest taxed country in the world. Are its citizens' quality of life reflected in the high taxes they pay compared to other countries making the top of the 'highest taxed countries' list?
According to modern studies, the § Top 10 tax havens include corporate-focused havens like the Netherlands, Singapore, Ireland, and the U.K., while Luxembourg, Hong Kong, the Cayman Islands, Bermuda, the British Virgin Islands, and Switzerland feature as both major traditional tax havens and major corporate tax havens.
Without them it would be impossible to pay for the country's defence services, its health, welfare and social services, its schools and universities, and its transport systems. In addition to these huge areas of expenditure, financial support is given to other vital areas such as industry, sport, heritage and culture.
How can I avoid the trap? The easiest way to sidestep the trap is to pay more into your pension each year so that your earnings no longer fall into the bracket. Not only does this help you save income tax – it also gives your retirement plans a boost.
The rise in interest rates is a key reason why the government have had to increase taxes, despite the political costs. But, it's not just short-term problems, Other long-term problems include the UK's planning systems, which make it easy to block or at least delay the building of housing and investment projects.
