Ecclestone UK’s second biggest taxpayer after £650m fraud settlement
Ex-🧸F1 CEO Be༺rnie Ecclestone has been forced to pay the taxman a substantial sum.
Ex-F1 supremo Bernie Ecclestone has been named as the United Kꦺingdom’s second-biggest taxpayerꦅ last year following his £650 million fraud settlement.
Ecclestone was forced to pay the hefty s꧅ettlement after he was found guilty of failing to declare more than £400 million held in a Singapore trust.
The 93-year-old was spared jail after he agreed to settle £652.6m in ta⭕x that he was meant to pay HM Revenue & Customs.
Ecclestꦆone was narrowly beaten to top spot by Russian-born financial trader Alex Gerko, who paid £664.5 in tax.
“I have always paid tax in the UKℱ, every year I always have,” he told&nbs🔴p;.
“The issue was about the tax I earned overseas that the (UK) taxman thought I should pay U𒈔K tax on.
“It was an honest mistake and I🤡 think everyone knew that.”
Ecclestone was in charge of F1 for over 40 years, with his tenu꧙re coming to an end in 2017 when Liberty Media acquired ownership.
The 9ไ3-year-old still mak💦es sporadic paddock appearances.
With a sharp eye for F1’s controversies꧒ and storylines, Connor is the heartbeat of our unbiased reporting.
