Take That singer tweets that a 'new team of accountants' are working on the singer's financial affairs
Gary Barlow has apologised for allegedly investing in a tax avoidance scheme.
The Take That singer published a series of posts on Twitter in which he wrote that he wanted to “say sorry” to anyone who had been upset by the reports, and claimed that the band had hired new accountants to resolve the situation.
Barlow, along with bandmates Howard Donald and Mark Owen and manager Jonathan Wild, were among a group of 1,000 wealthy investors who were found by a tribunal to have invested in a tax avoidance scheme.
As first reported in 2012, the Take That members each invested in Barlow’s Larkdale LLP, one of 51 so-called “icebreaker partnerships” affected by Judge Colin Bishop’s decision in court on May 9.
“With a new team of accountants we are working to settle things with all parties involved ASAP,” he wrote. “I want to apologise to anyone who was offended by the tax stories earlier this year.”
With a new team of accountants we are working to settle things with all parties involved ASAP
— Gary Barlow (@GaryBarlow) September 2, 2014
As the BBC reports, Barlow and his fellow Take That associates invested money into Larkdale shortly before it reported losses of £25 million. Each of the investors could then offset the losses of the company against their tax bill to reduce the amount they owed.
Barlow also claimed on Twitter that his account had been previously hacked, which led to him leaving the social networking site for a period of time, and announced that Take That had been working on a new studio album since the start of the year.