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Cheryl 'faces huge bill over tax avoidance' after losing HMRC legal battle
21.02.2022 - 23:55 / ok.co.uk
Cheryl is allegedly facing a huge tax bill after HMRC won a legal battle over an alleged avoidance scheme.The singer, 38, may have to pay back taxes after HM Revenue and Customs won a test case, according to reports.The star lost a long-standing test case after a judge found her company CC Entertainments culpable of “straightforward profit extraction” with an artificial employee bonus scheme.This means that the company paid capital gains tax instead of the more expensive income tax and National Insurance, according to The Sun. In a tax tribunal ruling in favour of HMRC, Judge Jennifer Dean noted: “The appeal of CC Entertainments is a straightforward 'profit extraction' case where the single 100 per cent shareholder signed a contract of employment and was awarded a Growth Securities Ownership Plan said to qualify as an employment-related security." Get exclusive celebrity stories and fabulous photoshoots straight to your inbox with OK!'s daily newsletter As a result, HMRC can now ask the former Girls Aloud singer for tax back including compound interest, but without fines or penalties.
A HMRC spokesman told Mirror Online: “We welcome this ruling which confirms these were tax avoidance schemes. We are committed to ensuring that everyone pays the right tax at the right time to help fund our vital public services.” OK! has contacted a representative for Cheryl for further comment.The Geordie native, who shares son Bear with her One Direction star ex Liam Payne, was part of Girls Aloud between 2002 and 2013.
After leaving the group, the X Factor presenter then launched a solo career. It comes as Cheryl recently opened up about being a mum to son Bear, four, and how it completely changed her approach to life.
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Cheryl faces massive HMRC tax bill after losing latest round in battle
Cheryl Tweedy reportedly faces a huge tax demand after HMRC won a legal battle with her. HMRC won the wrangle over an alleged avoidance scheme. Cheryl, the former ITV The X Factor judge and Girls Aloud star, may now have to pay back HMRC.
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