(Daily Mail): Olympic gold medallist and Tour de France winner Bradley Wiggins is slashing his tax bill by using an offshore scheme branded ‘abusive’ and ‘artificial’ by the Treasury. The Mail on Sunday has learned that the seven-time Olympic medallist has joined a partnership that will save him thousands in income tax. The 32-year-old cycling hero who climbed to the top of his sport partly thanks to Lottery funding, earned an estimated £5 million this year. He has joined a complex tax-avoidance partnership, Twofold First Services, which takes advantage of farming tax reliefs. Twofold is controlled by another company, Twofold Partnership  Management, based in the Cayman Islands. The Treasury has taken action to close the loophole and the taxman has pledged to ‘investigate and challenge’ any arrangements put in place before the change in the law. 

But the firm believed to have set it up, York-based Tax Trade Advisors, is also linked to NT (‘No Tax’) Advisors, the firm criticised for similar schemes involving comedian Jimmy Carr and Coronation Street star Bill Roache.

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