Revealed: One Direction resign as directors of 1D Media over tax probe

ONE DIRECTION have resigned as directors of company 1D Media after our exclusive story revealing they put a controversial share structure in place.

Tax experts had claimed that the lads – LOUIS TOMLINSON, NIALL HORAN, HARRY STYLES, LIAM PAYNE and their departed member ZAYN MALIK – could face a probe from HM Revenue and Customs for setting up an elaborate “alphabet” share structure, which is frowned upon by inspectors.

And now they will no longer be on the board of the potentially under-fire business as official paperwork shows they have stepped down while still remaining shareholders. We asked experts to explain the technical side to all this.

They revealed that, sadly, it could mean bad news for all the Directioners desperate to see their favourite foursome reunite soon.

Tax expert Jim Lee said: “They have stepped back from their director roles but their new, complicated alphabet share structure will ensure they receive all the money they are entitled to.

“The band is on a hiatus at the moment, so for them to step back in this way indicates a reunion could be long off. It shows they are not interested in being hands-on with the band any more.

“It also could be viewed as them distancing themselves from any potentially controversial decisions they make in the future, such as further implementation of the alphabet share structure.”

Well, you know what they say – bands that file year-end tax returns together stay together.