It’s been about a month since the absolutely humungous data leak known as the Panama Papers threw the world into a tizzy.
Yes. Living paragon of virtue Emma Watson was first linked to this whole mess this week, when it was discovered she’s a beneficiary of a company set up in the British Virgin Islands.
And it ain’t just ’cause she’s a multi-millionaire. It’s because she’s a famous multi-millionaire. Regulations in the UK mean it’s not too difficult to find out the personal deets of anyone involved with a publicly listed company.
If you’re a regular pleb, you might not have to worry about randos rocking up to your pad or taking advantage of your financial dealings after snooping around some files. If you’re Emma Watson, that’s the kinda deal you want to stamp right the fuck out.
Cunningham said “it is likely that Emma Watson was aiming to avoid the very financial scrutiny that this discovery has prompted, and it’s worth reiterating that her actions are completely legal.
If a celebrity carries out their professional services through a UK limited company or say, holds assets such as a house through a UK limited company, their connection to the company is now likely to be revealed.Any earnings gained or the value of any assets would be available to view”.
Cunningham went as far to say that new rules in the UK might make it even more beneficial for celebs to stash their cash elsewhere, not for tax-avoidance purposes, but just to keep their affairs away from absolute nosey parkers.
“In light of the new… registration legislation introduced in April, it’s quite possible that more individuals, as well as celebrities, examine the merits of setting up an offshore company.If so, this might be considered ironic given that the legislation was designed to provide greater transparency.”
Source: The Independent.
Photo: Juan Naharro Gimenez / Getty.