The Beatles' tax affairs

The history and music of the Fab Four

The Beatles' tax affairs

Postby (hamilton_square) » Sun Jul 23, 2017 6:06 pm

A bit of little known early Beatles trivia recently published in an article of (believe it or not) the Economia Magazine of the Institute of Charted Accounts of England and Wales (ICAEW) and reproduced online in the UK’s Daily Telegraph at …

http://www.telegraph.co.uk/money/fame-fortune/beatles-accountant-50-years-scruffy-boys-didnt-want-pay-tax/

The Beatles' accountant 50 years on: 'They were scruffy boys who didn't want to pay tax'

In 1961 Harry Pinsker, now aged 87, was an accountant working at the London branch of Bryce, Hanmer & Co who did the books for the businesses of the Epstein family (including NEMS). Later the firm of Bryce, Hanmer & Co would be instrumental in the setting up of Apple Corps, primary as a means for the Beatles to avoid paying £2m more in outstanding taxes than otherwise would have been the case. Such were the complexities of the British tax system at the time.
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Re: The Beatles' tax affairs

Postby (teeder) » Mon Jul 24, 2017 8:55 am

I don't understand. I for one, love paying taxes. It's always put to such good use and never wasted. :roll:
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Re: The Beatles' tax affairs

Postby (aceonbass) » Mon Jul 24, 2017 9:54 am

At the time, the maximum tax bracket in England was 90%, and they were in it! That's why we had so many of their tax exiles in this country till the Brittish government changed their tax rates, and lowered the maximum bracket.
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Re: The Beatles' tax affairs

Postby (hamilton_square) » Mon Jul 24, 2017 3:14 pm

aceonbass wrote:At the time, the maximum tax bracket in England was 90%, and they were in it!

Indeed they were. It’s what motivated George Harrison in 1966 to write Taxman that found its way onto the Revolver album. In that year of 1966 Ray Davies of the Kinks was another who felt the need to vent his feelings on the subject when he wrote Sunny Afternoon …

The tax man's taken all my dough
And left me in this stately home
Lazing on a sunny afternoon
And I can't sail my yacht
He's taken everything I got
All I've got's this sunny afternoon

Save me, save me, save me from this squeeze
I gotta big fat mama trying to break me
And I love to live so pleasantly
Live this life of luxury
Lazing on a sunny afternoon
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