COALITION ministers yesterday lashed out at tax dodgers after it was alleged thousands of wealthy people in Britain, including celebrities, paid as little as 1% income tax by using "below the radar" accounting methods.
Her Majesty's Revenue and Customs confirmed the Jersey-based K2 tax avoidance scheme, which supposedly used legal means to shelter £168 million from the Exchequer, is being investigated.
It was suggested that the scheme worked by transferring salaries from mainland investors into the Jersey-based trust, which then gave the money back to investors in the form of loans, which are not subject to income tax.
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