There are some bombshell new details regarding the paternity legal battle between Maralee Nichols and Tristan Thompson.
21.02.2022 - 17:57 / msn.com
Cheryl could fork out a hefty bill after being accused of using a tax avoidance scheme. The Girls Aloud singer’s company, CC Entertainments, is said to have paid capital gains tax instead of income tax and national insurance which come with higher rates. It’s reported that Cheryl, 38, recently lost an ongoing legal battle, with a judge concluding that her personal firm was culpable of ‘straightforward profit extraction’ using an artificial employee bonus scheme.
Judge Jennifer Dean noted according to The Sun: ‘The appeal of CC Entertainments is a straightforward “profit extraction” case where the single 100% shareholder [Tweedy] signed a contract of employment and was awarded a Growth Securities Ownership Plan said to qualify as an employment-related security. ’ Responding to the court’s decision, a HM Revenue & Customs spokesman said: ‘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.
’HMRC can now ask her to repay the tax, including compound interest, but not fines or penalties. It’s not known how much the bill is but CC Entertainments registered profits of £120,000 in 2020. A spokesperson for the accountancy firm which marketed the bonus scheme did not comment on the ruling.
There are some bombshell new details regarding the paternity legal battle between Maralee Nichols and Tristan Thompson.
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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.
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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