Monday, 9 January 2012

Tony Blair and the £8million tax 'mystery'

Telegraph
"Former Prime Minister Tony Blair channelled millions of pounds through a complicated web of companies and paid just a fraction in tax, The Sunday Telegraph can reveal. ....Official accounts show a company set up by Mr Blair to manage his business affairs paid just £315,000 in tax last year on an income of more than £12 million. In that time, he employed 26 staff and paid them total wages of almost £2.3 million.

The accounts provide the strongest evidence yet of the huge sums generated by Mr Blair through his various activities since quitting Downing Street in June 2007.

He runs a business consultancy – Tony Blair Associates – which has deals with the governments of Kuwait and Kazakhstan among others and is a paid adviser to JP Morgan, an American investment bank, and to Zurich International, a global insurance company based in Switzerland. Mr Blair makes a further £100,000 a time from speeches and lectures while also presiding over a number of charities including a faith foundation.

Mr Blair has previously been criticised for cashing in on contacts made in Downing Street and these accounts will likely add to those concerns.

The documents also reveal that in the two years until March 31 last year, Mr Blair’s management company had a total turnover of more than £20 million and paid tax of about £470,000. "

Blair Inc: How Tony Blair makes his fortune

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