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TAX LOOPHOLE TO BE CLOSED.

A clampdown on a tax loophole used by media stars to have their salaries paid through special companies has been unveiled by the Chancellor.

George Osborne announced moves to end the use of "personal service companies" by public sector employees to minimise their tax bills.

The controversial loophole allows workers to pay corporation tax at 20% rather than personal income tax at up to 45%, helping them avoid paying thousands of pounds a year.

It was reported that 1,500 people working for the BBC, including Jeremy Paxman and Fiona Bruce, were being paid by the publiclyfunded Corporation through the set-up.

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Publication:The Journal (Newcastle, England)
Date:Mar 17, 2016
Words:101
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