News Details
Ecclestone avoids paying £1.2bn tax bill
Bernie Ecclestone has avoided paying a potential tax bill of £1.2 billion ($2bn, €1.45bn) to Revenue and Customs (HMRC) after agreeing a secret deal with the British government. A BBC Panorama investigation found Ecclestone paid a £10m ($16.8m, €12m) settlement in 2008 to end a nine year investigation by HMRC into his family's tax affairs. In 1995, when Ecclestone took control of Formula 1's TV rights, he handed the rights to then wife, Slavica, who set-up an offshore trust fund in Lichenstein to contain the profits. Because the trust is offshore, no UK tax is paid on the TV deals Ecclestone makes, avoiding huge tax bills - as long as Ecclestone had no hand in...
Full Story »
Full Story »
11y ago from TheF1Times.com
0
You May Also Be Interested In...
Revealed: Ecclestone's £300m payout from family trust
All eyes were on a court room in Munich on Thursday as the bribery trial...
11y ago from Pitpass.com
Ecclestone: It feels as though the vultures are...
Bernie Ecclestone arrives in Munich for his trial Troubles continue to...
11y ago from GrandPrix247.com
Formula One Bernie Ecclestone boss facing bribery...
Berlin: Formula One magnate Bernie Ecclestone faces bribery charges...
11y ago from NDTVSports.com
Ecclestone avoids potential £1bn tax
Formula 1 boss Bernie Ecclestone has avoided a potential £1.2bn tax bill...
11y ago from BBC.co.uk
Elsewhere On The Network
Popular On MGPToday.com
Enea Bastianini: 'You get scared at Balaton; changes...
No description available...
5h ago from Motorsport.com
Honda confirms Luca Marini to remain a factory rider...
Honda Racing Corporation has confirmed Luca Marini will remain as its...
10h ago from MotorsportWeek.c...
Luca Marini signs contract extension with Honda ahead...
No description available...
11h ago from Motorsport.com
Johann Zarco extends LCR Honda stay through 2027...
Johann Zarco will be staying with LCR Honda after agreeing to a two-year...
10h ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Scott McLaughlin praises Kyffin Simpson after titanic...
Two Team Penske drivers finished on the podium in IndyCar’s season...
1h ago from MotorsportWeek.c...
Louis Foster narrowly secures IndyCar Rookie of the...
After a season-long battle with two other rookies in the NTT IndyCar...
7h ago from MotorsportWeek.c...
Winners and Losers of the 2025 IndyCar Nashville...
No description available...
17h ago from Motorsport.com
Penske’s Josef Newgarden wins wild 2025 IndyCar...
No description available...
21h ago from Motorsport.com
Popular On TotalWRC.com
Sebastian Ogier wants WRC title by “winning...
No description available...
4h ago from Motorsport.com
Toyota’s Sebastien Ogier races to thrilling comeback...
No description available...
1d ago from Motorsport.com
WRC championship twist as Hyundai retires Adrien...
No description available...
20h ago from Motorsport.com
Sebastian Ogier and Vincent Landais win inaugural...
After dropping over half a minute on the opening day to winning Rally del...
1d ago from MotorsportWeek.c...
Popular On GunnersToday.com
Report: Arsenal pull off double deal on deadline day...
Arsenal outcasts Albert Sambi Lokonga and Fabio Vieira are now joining...
1h ago from CaughtOffside.com
What I learned from interviewing this former Arsenal...
It doesn’t really surprise me to see Emi Martinez looking for a move to...
5h ago from CaughtOffside.com
2 Arsenal stars closing in on move to surprise...
Bundesliga side Hamburg are reportedly set to sign Arsenal stars Albert...
5h ago from SportsKeeda.com
Arsenal intended to be attacking at Liverpool but...
t;li>Visitors only had one shot on target at AnfieldWe had to adapt...
7h ago from TheGuardian.com
Comments
Hottest News
Former Fernando Alonso F1 team-mate arrested
One of Fernando Alonso's former team-mates has... Read More »
6h ago from RacingNews365.com
McLaren identify cause of painful Lando Norris retirement
McLaren has accepted fault for Lando Norris'... Read More »
10h ago from RacingNews365.com
Lewis Hamilton offered lifeline after late FIA penalty...
As soon as Lewis Hamilton’s penalty was... Read More »
1h ago from GPFans.com