Nolan snaps back over his tax affairs after Allister’s probing on Paradise Papers show
RADIO Ulster presenter Stephen Nolan has had to defend his tax affairs following questioning from TUV leader Jim Allister.
Mr Allister appeared on Thursday’s Nolan Show to discuss revelations in the Paradise Papers about the offshore tax affairs of Northern Irish business people.
“Tax avoidance schemes have been on the go for many years, and, of course, people have exploited them,” said Mr Allister.
“And of course it raises moral issues.
“And I suppose it is particularly acute when it involves moving money offshore. But there have been other tax avoidance schemes for delaying tax.
“For example, there has been a scheme that some people, by joining syndicates, have been part of promoting the film industry.
“And HMRC has been investigating those — has the Nolan programme any information on that?”
Presenter Nolan interjected to clarify it was him that Mr Allister was referring to.
“Just to call a spade a spade, I don’t know why you’re skirting around this,” the broadcaster said. “I’m tired by the way Jim, that’s why I’m slurring my words slightly.
“I am in a film scheme, yes I am in a film scheme, it has been widely reported,” he said.
“And yes, that film scheme, I invested into it — just as did many other people.
“What’s your problem? And by the way, you do not avoid one penny of tax in a film scheme.”
Stephen Nolan is a partner in Invicta Film Partnership No23 LLP, a 175-strong syndicate which purchased the master print of the Da Vinci Code, allowing for tax payments to be delayed for up to 15 years.
In July, it was revealed that Nolan receives a salary of between £400,000 and £449,999.
Mr Nolan had refused to reveal how much TV licence-payers’ money he had earned until that point.
But it is not known how much the BBC also pays to Mr Nolan’s production company.
In 2012, there was a public outcry after a report found that the BBC was paying more than 124 stars — including Mr Nolan — via personal service companies.
Such arrangements allow workers to be taxed as a company rather than as an individual — at a rate of around 20% instead of income tax of up to 45%.
The system — which is entirely legal — means those who benefit can also avoid national insurance and receive a slice of any dividends tax free.
In 2012, Mr Nolan told the Belfast Telegraph that he had set up his company in order to reduce his tax liability, adding: “I pay an accountant and I don’t want to pay any more tax than I have to.”
On yesterday’s Nolan Show the programme looked at information in the Paradise Papers which focused on the tax affairs of property developer and president of Glentoran, David Chick, as well as his business partner, Jim Davis.