News Details

Ecclestone avoids potential £1bn tax

Formula 1 boss Bernie Ecclestone has avoided a potential £1.2bn tax bill as a result of a secret deal with HMRC. The deal involved a payment of just £10m, according to legal transcripts obtained by BBC Panorama. Revenue & Customs spent nine years investigating the Ecclestone family's tax affairs before offering to settle in return for the payment from the family trusts in 2008. Mr Ecclestone said he paid more than £50m in tax last year. Mr Ecclestone, the chief executive of Formula 1, is currently on trial in Germany facing corruption charges. It is alleged he was behind a £26m bribe paid to a bank official. Prosecutors allege the bribe was paid to ensure that Mr Ecclestone retained...
Full Story »
10mo ago from BBC.co.uk 0
Share

You May Also Be Interested In...

Ecclestone denies bribery as trial begins in Munich

Bernie Ecclestone and his legal team have denied all charges of bribery...
10mo ago from TheF1Times.com

Revealed: Ecclestone's £300m payout from family trust

All eyes were on a court room in Munich on Thursday as the bribery trial...
10mo ago from Pitpass.com

Senna's family 'didn't expect the worst'

Watching on TV, Ayrton Senna's family expected him to walk away from the...
10mo ago from PlanetF1.com

Ecclestone trial begins in Germany

Bernie Ecclestone's high-profile trial on bribery charges has begun in...
10mo ago from F1Zone.net

Elsewhere On The Network

Popular On MotoGPToday.com

Suzuki presents 2015 MotoGP racer

Suzuki officially launched its 2015 MotoGP comeback with a presentation...
5h ago from Crash.net

Aprilia unveils RSGP MotoGP race bike

APRILIA'S RS-GP 2015 MotoGP race bike has been officially unveiled by...
1h ago from VisorDown.com

Suzuki MotoGP team to be known as Suzuki Ecstar

Suzuki announced the partnership with Ecstar, the Japanese manufacturers...
1h ago from MotoGP.com

Aprilia unveil RS-GP MotoGP contender

Aprilia officially unveiled their 2015 MotoGP bike today in Italy with...
23h ago from MotorcycleNews.c...

Popular On IndyCarToday.com

IndyCar: Primary sponsor for Hinchcliffe's SPM entry...

Schmidt Peterson Motorsports has announced that Denver-based technology...
20h ago from Racer.com

IndyCar: Teams take delivery of aero kits ahead of...

Teams aligned with either Chevrolet or Honda have taken delivery of the...
2d ago from Racer.com

Ed Jones and Carlin Racing Shine at Soggy Barber Test

Indy Lights Presented by Cooper Tires made the prudent decision to...

Testing IndyCar's aero kits with Tony Kanaan

Tony Kanaan spoke in an interview with Motorsport.com about his time...
3d ago from Motorsport.com

Popular On TotalWRC.com

SS2: Ogier leads overnight in Mexico

SS2: Ogier leadsovernight in Mexico Sébastien Ogier set fastest time in...
7h ago from WRC.com

It's time to Mexico!

Counting down hours before the start of round three of 2015 World Rally...
13h ago from WorldRallyBlog.c...

Dakar Series 2015: in Argentina and Paraguay

The Dakar Series has become the way to go in preparing for the Dakar. This...
7h ago from Motorsport.com

Mads Østberg on course for podium spot in Sweden!

Mads Østberg and Jonas Andersson ended day one of Rally Sweden third...
7h ago from Motorsport.com

Popular On GunnersToday.com

Coral Daily Download - FA Cup misery for Arsenal?

Simon Clare joins the Alan Brazil Sports Breakfast to round up the latest...
2h ago from TalkSport.com

Arsenal news roundup 06/03/15 : Boss confirms...

In today’s news roundup, Arsene Wenger confirms Gabriel Paulista’s...
3h ago from AllArsenal.com

Transfer rumours and paper review - Friday, March 6

Here's the top transfer-related stories in Friday's newspapers... Arsenal...
3h ago from TalkSport.com

Arsenal Given Green Light To Make £60m Serie A...

Spanish hit man could finally be heading to London after all. Arsenal...
10h ago from CaughtOffside.com

Comments

comments powered by Disqus

2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.