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The tax tail wags

A substantial amount of money has been received by a young woman who works as a self-employed model. The payment was made in return for her agreement that details of her relationship with a well-known celebrity were not made public

My client is a young lady who is in business as a self-employed model and who undertakes additional promotional work. I recently started to prepare her business accounts for the year ended 31 March 2010 and her 2010 tax return.

She supplies me with all business and personal bank account statements and I noticed that a substantial six-figure sum of money – considerably in excess of her normal modelling fees etc. – had passed through her personal bank account.

When I queried this with my client she explained that a year or so ago she had become personally involved with a celebrity who is well known to the general public and whose business and personal life features prominently in the press.

This gentleman was married and news of their affair eventually became public. In an attempt to mitigate the adverse publicity that this was starting to generate ...

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