Mr Blunt, a public school educated former Army officer, deposited more than £2 million in the offshore tax haven and registered the account at his parents’ British address.
The singer has previously denied that he is a tax exile after buying a property in Switzerland and states on official company records that his nationality is British.
His management company declined to comment on Blunt’s tax and financial affairs and it is not known if the Jersey account has been declared to British tax authorities.
There is no suggestion he has done anything illegal.
Let\’s see if we can construct a scenario in which an international pop star can have £2 million in an account in Jersey without owing the British taxman a single penny: even if no UK tax has been paid on that sum.
So, international pop star is international. Goes off and plays gigs around the world to promote his records, to earn money doing live gigs. I know, I know, this is James Blunt, the idea that anyone would pay to see him is odd, but there we are, no accounting for taste.
Leave aside whatever he might get paid in the UK from UK sales. Think only of his foreign income, from those deluded foreigners who like his music.
Now if our international pop star is indeed international, working outside the UK for more than 270 days a year (which, when you include his rest and recreation breaks in Ibiza and Verbier, is entirely possible, if not likely) then he\’s most unlikely to be resident in the UK for tax. It wouldn\’t even need to be a conscious decision to stay away for long enough not to be resident: could just be one of those things, that\’s how the touring schedule works out.
UK sourced income would be different. But those foreign earnings, so long as they stay foreign, wouldn\’t be subject to UK tax. There just isn\’t any owed at all: this isn\’t even tax avoidance, this is just straight, simple, tax compliance.
And that\’s how an international pop star can have £2 million in a Jersey account without owning any tax. Simply by working hard and obeying the law of the land.
The Telegraph disclosed on Friday that a whistle-blower has provided HM Revenue and Customs with full details of every HSBC client who has an account in Jersey. More than 4,000 people based in Britain
That\’s much more shocking claim. If HSBC only has 4,000 accounts there they might as well shut up shop and go home.