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 »
11mo 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...
11mo ago from Pitpass.com

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

Bernie Ecclestone arrives in Munich for his trial Troubles continue to...
11mo ago from GrandPrix247.com

Formula One Bernie Ecclestone boss facing bribery...

Berlin:  Formula One magnate Bernie Ecclestone faces bribery charges...
11mo ago from NDTVSports.com

Ecclestone avoids potential £1bn tax

Formula 1 boss Bernie Ecclestone has avoided a potential £1.2bn tax bill...
11mo ago from BBC.co.uk

Elsewhere On The Network

Popular On MotoGPToday.com

Ducati's fuel allowance reduced after Qatar race

The Ducati MotoGP team's fuel allowance has been reduced following its...
5h ago from Motorsport.com

Miller: "I was in too much of a rush to pass"

CMW LCR Honda’s Australian rider Jack Miller crashed out of his debut...
9h ago from MotoGP.com

Hernandez: “Fighting with the leading group felt...

Pramac Racing’s Yonny Hernandez achieved his first ever top ten finish...
9h ago from MotoGP.com

Ducati fuel allowance reduced after Qatar podiums

Following the Ducati Team’s results at the Commercial Bank Grand Prix...
8h ago from MotoGP.com

Popular On IndyCarToday.com

Honda's IndyCar aero kit dilemma

Just one event into 2015 and it appears that Chevrolet has a clear edge...
49m ago from Motorsport.com

Fan suffers fractured skull from debris at St Pete

A race fan attending Sunday's IndyCar season opener at St Petersburg on...
7h ago from Crash.net

A lot of debris raises a lot of questions following...

The new aero kits had an unintended consequence Sunday ... A lot of...
1d ago from Motorsport.com

Montoya snatches St Pete win from Power

Juan Pablo Montoya claimed the first win of the 2015 Verizon IndyCar...
2d ago from Crash.net

Popular On TotalWRC.com

ERC: Circuit of Ireland is big in my heart, says Breen

Craig Breen says it would be a dream come true if he could add his name...
10h ago from Crash.net

Wilson: I'll never forget Tanak's 'splashdown'

In the latest exclusive M-Sport World Rally Team column on Crash.net for...
14h ago from Crash.net

Toyota signs Suninen to junior squad

The 21-year-old (pictured above) joins Frenchman Eric Camilli and they...
15h ago from WRC.com

Toyota reveals its junior line-up

Personally, I am having a great time following the progress of Toyota...
15h ago from WorldRallyBlog.c...

Popular On GunnersToday.com

Arsenal attempt awful April fools joke: starring Mesut...

Arsenal attempted an early April fools joke by trying to convince fans...
1h ago from CaughtOffside.com

Arsenal's Renaissance Men: Part 2 – Coquelin and...

In part 2 of the article we have covered two entirely different players...
3h ago from AllArsenal.com

England player ratings from 1-1 draw with Italy:...

England maintained their unbeaten run on Tuesday night by coming from...
3h ago from CaughtOffside.com

Mesut Ozil Hails The Contribution Of Santi Cazorla...

It has been reported that Mesut Ozil has hailed Arsenal teammate Santi...
2h ago from Nastytackle.com

Comments

comments powered by Disqus

Hottest News

Ecclestone reveals out of this world plans for F1

At unscheduled press conference Bernie Ecclestone... Read More »
2h ago from Pitpass.com

Coulthard: Rosberg is showing “worrying signs”

After two grands prix, Rosberg is already 10... Read More »
15h ago from Motorsport.com

Robin Raikkonen joins Red Bull Young Driver Academy

Robin Raikkonen has been signed up by Red Bull to... Read More »
1h ago from FormulaSpy.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.