The frontman also confesses that there was a 'potential' for the group to pay less tax due to the scheme, but they pulled it out after realizing they were in the wrong.
- May 22, 2018
AceShowbiz - Arctic Monkeys frontman Alex Turner has confessed the band made a "poor decision" by involving themselves in a tax avoidance scheme.
Back in 2014 the group were named among a slew of stars, including George Michael, Michael Caine and Gary Barlow, who paid into the Liberty scheme - which allowed investors to shield money from the British taxman through a partnership registered in Jersey, but was shut down by U.K. authorities last year.
Despite members Alex, Matt Helders, Jamie Cook and Nick O'Malley reportedly paying fees of $51,000 (£38,000) and $113,000 (£84,000) to protect earnings ranging from $747,000 (£557,000) to $1.5 million (£1.1 million) accrued between 2005 and 2009, they denied artificially reducing their tax bill.
In an interview with Britain's Sunday Times Magazine Alex confessed to making a mistake, saying, "We were given some poor advice and I made a poor decision. But I always paid my taxes in full, on time."
Alex did confess there was a "potential" for the group to pay less tax due to the scheme but told the newspaper they pulled out before that point as they realised they were in the wrong.
News of the band's involvement in the scheme sparked a backlash from fans and their fellow musicians, with Noel Gallagher and Bombay Bicycle Club frontman Jack Steadman both criticising the move. Asked if he understood why fans were angry with him and his bandmates, Alex added, "Absolutely, yeah. But we didn't get to pay less tax though."
The Arctic Monkeys released their sixth album, "Tranquility Base Hotel & Casino", earlier this month - with the record shooting straight to number one in the U.K. According to Alex, the group's new material is more political than their previous efforts - as he's developed as a songwriter.
"I'd never wanted anything political to get into the music and that was because I didn't know how to do it," he explained. "It's not as though these are protest songs necessarily, but I'm more confident about putting myself across."
