Sigur Rós have been cleared of tax evasion in a major case that has taken place in their native Iceland.

The band – Georg “Goggi” Holm, Kjartan “Kjarri” Sveinsson, Orri Páll Dýrason and frontman Jónsi Birgisson – were indicted on tax evasion charges in 2019 by Iceland’s directorate of Internal Revenue after an investigation that began back in 2016.

Sigur Rós admitted they evaded payment of 151 million Icelandic krona – amounting to £840,000 – in taxes between 2011 and 2014 and paid back the full amount, along with fines and interest.

Throughout the case, the band members maintained their innocence and said their financial affairs had been mishandled by an accountant.

They faced additional punishment through the District Prosecutor, who has now acquitted the group.

Frontman Jonsi was accused of evading around £170,000 in income taxes and around £75,000 on his investment taxes.

The other band members had their assets frozen during the trial, including houses and apartments worth £4.9 million.

Hólm, Sigur Rós’ bassist, previously said the case was “one of the strangest farces I’ve ever encountered”.

“We do not feel like we have done anything wrong and from day one when we started signing contracts it was specifically stated that we were going to be very honest about such matters and pay all our taxes here in Iceland.”

Their legal costs, which reportedly amount to roughly £330,000, will be paid by the State Treasury of Iceland.