Paisley singer Nutini dissolves company for £2.5m payday

Scottish pop singer Paolo Nutini has dissolved a company that handles his profits and scooped £2.5 million in the process.

The Paisley singer put Paolo Nutini Touring Limited into voluntary liquidation last month, it has emerged.

The star, who has sold more than five million records after bursting on to the music scene as a teenager 10 years ago, signed a statement of solvency to close it down, according to Companies House documents.

The records show that the firm, which he set up in 2006, has assets of £2,515,803.

His company’s accounts show he has £1,296,006 in a directors’ loan account, £1,064,958 in the bank and is owed almost £150,000 in tax refunds.

Liabilities were listed at £12,043 and liquidator expenses at £6,500.

The singer songwriter, whose family run a fish and chip shop in Paisley, was a director of the firm along with his mother Linda.

He has set up a new company called P N Touring which took in £1.3m last year.