U2 go Dutch on royalties ahead of tax crackdown

A FLIGHT of the stars is feared after it emerged U2 are transferring some business dealings to the Netherlands ahead of the tax crackdown on artists’ earnings.

The band have set up a company in Amsterdam to handle their income from royalties — the lucrative earnings from record sales, radio play of their songs and cover versions of their work.

About a third of the famous foursome’s multi-million-euro fortune is believed to come from royalties but this tax-free stream of income would be seriously dented under Government plans to cap the tax relief known as the artists’ exemption next January.