Paradise Papers. Queen to Formula 1

The Queen

The Duchy of Lancaster, the private estate of the Queen, was found to have millions of pounds invested in offshore arrangements.

Around £10million from the Queen’s private fund was paid into funds in the Cayman Islands and Bermuda between 2004 and 2005, according to reports.

A spokesman for the estate said all investments were “fully audited and legitimate”.

Lewis Hamilton

World champion racing driver Lewis Hamilton reportedly avoided tax on his £16.5 million private jets after it was imported into the Isle of Man in 2013, according to the BBC.

Bono

U2 frontman Bono is alleged to have used a company based in Malta, a low tax jurisdiction, to pay for a share in a shopping center based in Lithuania.

The leaked papers reportedly reveal that Bono, under his real name Paul Hewson, was an investor in the Maltese company Nude Estates, which bought the shopping center.

The Irish singer said: “I’ve been assured by those running the company that it is fully taxed compliant, but if that is not the case I want to know as much as the tax office does, and so I also welcome the audit they have said they will undertake.”

Lord Ashcroft

Former Conservative treasurer Lord Ashcroft is said to have remained a “non-dom” after joining the House of Lords and was domiciled in Belize for tax purposes at a time it was widely believed he had given up on the status.

He has insisted he did not ignore rules in relation to the Punta Gorda Trust.

Mrs. Brown’s Boys actors

Three stars of the BBC sitcom Mrs. Brown’s Boys allegedly put more than £2 million into companies in Mauritius as part of a tax avoidance scheme.

Patrick Houlihan, Martin Delany, and Fiona O’Carroll took funds received from the production company owned by creator and star of the show, Brendan O’Carroll, and transferred them overseas, the BBC reported.

Mr. O’Carroll told the broadcaster neither he nor his companies had been involved in a tax avoidance scheme or structure.

The three could not be contacted for comments but Mr. Houlihan, who plays Dermot, had seemed confused over the scheme and told the Irish Times that he had not intended to avoid tax but simply control it. He said he was contacted by the BBC’s Panorama about the scheme, adding: “I was surprised and I hung up. Afterwards, I had to Google tax avoidance to see what it meant.”

Wilbur Ross

Donald Trump’s commerce secretary Wilbur Ross is accused of withholding details of his involvement with shipping firm Navigator when disclosing his financial affairs to a Senate committee earlier this year.

The leaked papers show the billionaire industrialist retains an interest in Navigator Holdings, one of whose most important business relationships is with energy firm Sibur, which is controlled by figures close to Vladimir Putin.

 

 

 

 

 

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okesman for the Mercedes driver said that everything was “above board”.

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