Ed Sheeran has embraced his celebrity status with pride – handing over Sh2.8billion (£21.6million) to the taxman in just two years thanks to his ultra-successful live tours.
The Shape Of You singer is paying the equivalent of Sh3.8million (£29,670) a day – Sh26.9million (£207,692) a week – in tax after scooping a whopping Sh14billion (£108million) from his sold-out 2017 and 2018 tours to promote his album Divide.
The multi-millions are paid into his Nathan Cable Touring company, from where HMRC takes 20 percent in corporation tax.
But Ed did pay himself a cheeky Sh2.2billion (£17million) in dividends, according to his tax bill.
Because he sings mostly alone on stage, there’s no need for Ed to pay overheads for things like backing singers, dancers or other performers who would quickly rack up their own expenses.
And – like Adele – Ed refuses to pay accountants to find him tax loopholes as some less scrupulous celebrities prefer to do.
His Sh39billion (£300million) has made him the UK’s richest musician under the age of 30.
Ed’s financial expertise saw him praised in April when he refused to furlough the staff who work at his west London restaurant and bar in Notting Hill.
Rather than using the government’s taxpayer-funded scheme to keep staff jobs open, Ed swallowed the cost himself and paid their salaries from his own pocket – despite Bertie Blossoms having to shut its doors in March thanks to the coronavirus crisis.
“The business, co-owned by Ed Sheeran and Stuart Camp, is not, and will not, be accessing any Government scheme of any kind, including furloughing, grants, loans and so on,” his rep said at the time.