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Hamilton named in Paradise Papers leak
Formula 1 World Champion Lewis Hamilton avoided paying taxes on his £16.5m private jet, according to documents that form part of the Paradise Papers leak. The papers show that Hamilton used shell companies to avoid paying £3.3m in VAT when the red Bombardier Challenger 605 was imported from England to Canada in 2013. A lease deal set up by financial advisers is alleged to have been artificial and does not comply with an EU and UK ban on refunds for private use. If the jet is used strictly for business purposes then a complete refund is legal. The Paradise Papers comprises a leak of 13.4m files from two offshore financial service providers concerning the financial dealings of...
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6y ago from PlanetF1.com
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