Music is a fleeting business and the money can dry up as fast as it is earned but there is increasing concern over the tax avoidance schemes and legal loopholes being used by stars accountants to avoid paying tax.
The latest musicians to be named in leaks are all four members of the Arctic Monekys, Katie Melua, George Michael, Michael Caine  as well as sports types and the usual glut of bankers.
The so called Liberty tax strategy was revealed in the Times

Investors in the Liberty tax strategy revealed today (July 9) by The Times reported that the indie faves are reported to have each paid between £38,000 and £84,000 in fees to Liberty to protect £557,000 to £1.1m between 2005 and 2009.

It’s not a new thing and musicians have been protecting their assets/fiddling their tax/looking after their money with legal loopholes while they can since the beginning of music history- should we expect any different? In the here today and gone tomorrow world of rock n roll can anyone blame bands for trying to hold onto what they have got?

1 COMMENT

  1. It turns out that Louder than War isn’t much different from the mainstream media afterall. If I remember correctly, when referring to Gary Barlow’s tax avoidance less than two months ago (http://louderthanwar.com/should-gary-barlow-give-up-his-obe-after-tax-dodge-case/), LTW spoke about the music industry being littered with ‘greed’ and even debated whether or not he should give back his OBE for setting a bad example. Here, you seem to be doing the exact opposite. I happen to agree with the sentiment in this article and if anyone knows how the music industry can be a ‘fleeting business’ with ‘money drying up as fast as it’s earned’ it’s Gary Barlow. What I don’t like is this double standard were excuses are being made for the Arctic Monkeys, George Michael and Michael Caine where others have been slated. However innocent it may be is irrelevant. I reckon that most people would be paying less tax if there was a legal way of doing so.

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