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 »
2y ago from TheF1Times.com 0
Share

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...
2y ago from Pitpass.com

Ecclestone: It feels as though the vultures are...

Bernie Ecclestone arrives in Munich for his trial Troubles continue to...
2y ago from GrandPrix247.com

Formula One Bernie Ecclestone boss facing bribery...

Berlin:  Formula One magnate Bernie Ecclestone faces bribery charges...
2y ago from NDTVSports.com

Ecclestone avoids potential £1bn tax

Formula 1 boss Bernie Ecclestone has avoided a potential £1.2bn tax bill...
2y ago from BBC.co.uk

Elsewhere On The Network

Popular On MGPToday.com

Lorenzo: Points gap to Marquez could be "much...

Reigning MotoGP champion Jorge Lorenzo has said that, despite two bad...
3h ago from Motorsport.com

MotoGP: Lorenzo – ‘I considered stopping’

Jorge Lorenzo has admitted that he considered pulling into the puts...
51m ago from MotorcycleNews.c...

Rossi laments “stupid mistake” that cost Assen...

Valentino Rossi was left to lament his own “stupid mistake” after...
20h ago from Motorsport.com

Assen MotoGP: Jack Miller stuns in wet and wild...

Jack Miller scored his maiden MotoGP race victory in a sensational wet...
23h ago from Motorsport.com

Popular On IndyCarToday.com

"What They're Saying" from KOHLER Grand Prix

Top 10 quotes from the Kohler Grand Prix Verizon IndyCar Series race on...
15h ago from Motorsport.com

Road America - Qualifying results

Full qualifying results for the ninth round of the 2016 Verizon IndyCar...
1d ago from Crash.net

INDYCAR: Power holds off Kanaan at Road America

Team Penske's Will Power mastered the Road America circuit on IndyCar's...
17h ago from Racer.com

Will Power takes dominant victory at Road America Indy

Will Power has taken a dominant victory at the Road America IndyCar race,...
17h ago from GrandPrixTimes.c...

Popular On TotalWRC.com

Paddon targets Poland bounce back

Kiwi keen to put recent disappointment behind him
2d ago from WRC.com

Craig Breen and Stéphane Lefebvre to represent Abu...

Winners of Rally de Portugal with Kris Meeke and Paul Nagle, the Abu Dhabi...
2d ago from Motorsport.com

Ogier draws 'additional strength' from fatherhood

Will Tim make the champ even faster?
3d ago from WRC.com

Hyundai Motorsport targets podium at fast and furious...

Hyundai Motorsport is ready to challenge for another podium result in...
2d ago from Motorsport.com

Popular On GunnersToday.com

N Brazil says Arsenal after Gabigol

N Brazil have linked Arsenal with Santos forward, Gabriel Barbosa, known...
2h ago from News.ArseBlog.com

Arsecast Extra Episode 129 – 27.06.2016

Welcome to another Arsecast Extra, the Arsenal podcast, with myself and...
2h ago from Arseblog.com

Mesut Ozil urges Germany team-mates to move to EPL as...

Mesut Ozil urges Germany team-mates to move to the Premier League as...
4h ago from DailyMail.co.uk

Picture: Manchester United midfielder is modelling...

Olivier Giroud is a good looking chap. I’m not afraid to say it. As the...
2h ago from CaughtOffside.com

Comments

Hottest News

WATCH: Brawn GP returns!

Seven years after completing a sporting fairytale... Read More »
2h ago from SkySports.com

Bernie looking to lose tracks – 'It's not my fault,“

Bernie Ecclestone is looking to move away from... Read More »
2h ago from F1.co.uk

Kimi 'not inferior to anybody' with right car - Arrivabene

Ferrari team principal Maurizio Arrivabene says... Read More »
5h ago from F1i.com

Recent News

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.