With wealth beyond most people’s wildest dreams, Britain’s leading celebrities can easily afford to pay their fair share of tax. But many turn to avoidance schemes to bring contributions down – denying the Treasury vital funds that could go towards hospitals, schools and other services battered by cuts. And yesterday it was revealed some of our best-loved stars are among 33,000 Brits being hit by massive demands after ploughing their earnings into such arrangements, leaving a tax shortfall of £5.1billion. Read more >>
A tax dodge is an informal expression which means the same as 'tax avoidance scheme' — a (supposedly) legal way of paying less tax. • One tax dodge often used by multi-national companies is to squirrel their earnings abroad in foreign subsidiaries located in countries where taxes are lower.