Wednesday, July 9, 2014 6:06am ET by  
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George Michael amongst stars accused of using tax avoidance scheme

According to The Times, several British celebrities have been accused of using tax avoidance schemes to shelter some £1.2 billion.

George Michael, Arctic Monkeys, Sir Michael Caine, Katie Melua, Gary Barlow and Anne Robinson are among 1,200 high-earners who invested in a tax scheme run by the company Liberty.

'Faith' singer Michael is accused of investing in Liberty seven years ago and sought to shelter £6.2 million.

Take That star Barlow and Watchdog host, Robinson, are also accused of investing £4.46m and £4m in the scheme.

Other celebrities who it's claimed used the tax avoidance scheme are Arctic Monkeys members Alex Turner, Jamie Cook, Nick O'Malley and Matt Helders, who are said to have sheltered between £557,000 and £1.1m.

Caine is accused of sheltering at least £600,000, while footballers Darren Anderton and Kevin Davies are also believed to have been members.

Melua is said to have sought to shelter £500,000 in 2008 at the advice of accountants, but repayed the tax to HM Revenue and Customs.

Liberty is set to be challenged by HMRC in court in March 2015, although its members are likely to have to pay back millions of pounds in disputed tax before that date, thanks to new Treasury legislation.

Barlow is already facing a separate bill for his involvement in another tax avoidance scheme - Icebreaker - which was defeated in the courts earlier this year.

Prime Minister, David Cameron, has in the past criticised celebrities who have avoided tax, but insisted that Barlow should not have to return his OBE.

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Watch George Michael in action, and a video from the Press Association on Gary Barlow, below: