Gary Barlow has apologised over tax avoidance allegations and has pledged to settle his affairs “ASAP”.
The singer, along with Take That members Howard Donald, Mark Owen and their manager, Jonathan Wild, reportedly invested £66m in Icebreaker partnerships which were billed as music-industry investment schemes.
However, in May, a judge ruled that the initiative was a tax-avoidance scheme and HM Revenue & Customs is now expected to demand repayment of the tax relief. The four have been involved in the scheme since 2010.
Many called for Barlow to be stripped of his OBE, although David Cameron rejected the request.
Barlow has now addressed the claims for the first time on Twitter.
I want to apologise to anyone who was offended by the tax stories earlier this year.; Gary Barlow (@GaryBarlow) September 2, 2014
With a new team of accountants we are working to settle things with all parties involved ASAP; Gary Barlow (@GaryBarlow) September 2, 2014
He then shortly after announced news of a forthcoming new Take That album.
We have been working since the new year on a new Take That studio album; Gary Barlow (@GaryBarlow) September 2, 2014
We are extremely excited about it ! It has been 4 long years since the last one; Gary Barlow (@GaryBarlow) September 2, 2014
In July, new allegations emerged that Barlow had been avoiding taxes through an investment scheme called Liberty.
Other investors in the Leeds-based tax strategy include Michael Caine, Katie Melua, Anne Robinson and Paul Nicholson, a loan shark convicted of rape. They were among more than 1,600 who allegedly tried to shelter £1.2billion, making it one of the biggest known tax avoidance schemes.Reuse content