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 »
3y 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...
3y 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...
3y 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...
3y ago from PlanetF1.com

Ecclestone trial begins in Germany

Bernie Ecclestone's high-profile trial on bribery charges has begun in...
3y ago from F1Zone.net

Elsewhere On The Network

Popular On MGPToday.com

MotoGP Aragon: Vinales snatches pole with Rossi third

Vinales takes MotoGP pole away from Rossi with his last lap as Marquez...
19h ago from BikeSportNews.com

Rossi labels front row spot 'big surprise'

– Valentino Rossi labelled his front-row grid spot for the Aragón...
18h ago from GPUpdate.net

Márquez 'pushed too much' in pole pursuit

– Repsol Honda rider Marc Márquez accepted that he "pushed...
16h ago from GPUpdate.net

MotoGP Aragon: Marquez tops third session, Rossi into...

Marquez heads into MotoGP Aragon qualifying with a 0.3s lead as Rossi...
23h ago from BikeSportNews.com

Popular On IndyCarToday.com

Ganassi Racing cuts more than 40 staff

Most everyone at Chip Ganassi Racing had heard for the past few weeks...
2d ago from Racer.com

PUMPELLY: The case against gravel

During the opening laps of the 1999 British Grand Prix, Michael...
1d ago from Racer.com

Boston GP organizer sues city for $15.5m

For a race that never actually took place, the Boston Grand Prix sure...
1d ago from Racer.com

Chip Ganassi Racing Down to Two Full-time Entries for...

Scott Dixon will only have one team-mate in 2018 after Chip Ganassi Racing...

Popular On TotalWRC.com

Spotlight: Nil Solans

Spotlight: Nil Solans What do the following WRC drivers have in common?...
1d ago from WRC.com

Loeb open to WRC return

Loeb open to WRC return Sébastien Loeb has hinted that he could make...
2d ago from WRC.com

DMACK unveils new gravel tyre

New rubber for rounds in Spain, GB and Australia
1d ago from WRC.com

WIN A CO-DRIVE WITH MADS ØSTBERG

WIN A CO-DRIVE WITH MADS ØSTBERG
1d ago from WRC.com

Popular On GunnersToday.com

Reports: Premier League superstar keen on joining...

What’s the story? The 'shock' of Manchester United signing Robin Van...
54m ago from SportsKeeda.com

Jonny Evans decision highlights Arsene Wenger's fatal...

As debate swirls around Arsene Wenger's team selections, Paul Mariner...
54m ago from ESPNFC.co.uk

Tottenham Hotspur star boasts better record than...

Tottenham Hotspur striker Harry Kane has had a remarkable few years on...

Everton will return with January bid for Arsenal...

Everton will return with January bid for Arsenal striker Olivier Giroud...
2h ago from DailyStar.co.uk

Comments

Hottest News

McLaren and Honda: The Big F1 Quiz

McLaren and Honda have confirmed they will split... Read More »
2h ago from SkySports.com

Video: Toto Wolff tackles the Nürburgring

Watch as Mercedes boss Toto Wolff tackles the... Read More »
3h ago from GPUpdate.net

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.