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One Direction - 5 directors

One Direction are not only breaking America, they are looking after their career in a particularly astute manner. Well, that’s the generous way of looking at it. Others might find their tax manoeuvres a little distasteful.

The Sun reports that the X-Factor also-rans who are coining it in as a global boy band, have opted to pay themselves through their companies ID Media and PPM Music. This allows them to pay tax on their profits at 28% instead of income tax at 50%. In addition all their expenses will be tax deductible.

They have received help from an Irish accountancy firm Live Wire Business Management that also works with Ronan Keating, The Cranberries and Girls Aloud. Ireland seems to have mastered the art of artists avoiding paying tax at the full rates, with U2 notorious for their careful management of their tax affairs.

All of this financial acumen will be of little interest to One Direction’s millions of adoring fans. The boys are creating the biggest teen storm in the USA since The Beatles nearly half a century ago.

Sales of their debut US album release Up All Night look set to hit 180,000 copies in the first week on sale. Today, the favourite US breakfast show, made the comparison with the 60s legends, calling One Direction "the group that some people are saying are inspiring the next case of Beatlemania. Odds are if you do have a teenager in your house or a pre-teen girl, she's already obsessed with One Direction."

Ker-ching, as the group’s accountants are no doubt cackling.

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