Hamilton 'dodged' VAT on £16.5m private jet

By Daily Sports on November 7, 2017

Views: 3,294

Formula 1 champion Lewis Hamilton avoided tax on his £16.5m luxury jet, according to Paradise Papers documents.

They show a £3.3m VAT refund was given after the Bombardier Challenger 605 was imported into the Isle of Man in 2013.

It appears a leasing deal set up by advisers was artificial and did not comply with an EU and UK ban on refunds for private use - although he may have been entitled to one for business.

Hamilton's lawyers say a tax barrister review found the structure was lawful.

They added it was not correct to say no VAT had been paid on any of the arrangements.

A statement later issued by the racing driver's representative said: "As a global sportsman who pays tax in a large number of countries, Lewis relies upon a team of professional advisers who manage his affairs.

"Those advisers have assured Lewis that everything is above board and the matter is now in the hands of his lawyers."

At 06:15 on 21 January 2013, Hamilton touched down at Ronaldsway airport on the Isle of Man in his new jet with his then-pop star girlfriend Nicole Scherzinger to finalise the paperwork with customs.

While Hamilton's planned use of the jet was predominantly for business purposes, the BBC's Panorama programme has seen documents which suggest the 32-year-old F1 Mercedes driver intended to make private flights about a third of the time.

Hamilton's plane carries the private registration G-LCDH (Lewis Carl Davidson Hamilton)
Hamilton's social media accounts provide evidence he has used the candy apple red Challenger for holidays and on other personal trips around the world.

He has posted a number of photographs of himself on the plane on Instagram - including one sowing his bulldogs Roscoe and Coco on board.

"If private usage of the jet is being disguised as business usage of the jet, then what you essentially have is a tax avoidance scheme," says Rita De La Feria, professor of tax law at Leeds University.

"You're using it for your own private interests, you're going on holidays, meeting friends. You're supposed to pay the tax on private consumption." (BBC)

•Photo shows Lewis Hamilton.

Source Daily Sports

Posted November 7, 2017


 

You may also like...
Mass turnout of fans in Kano as Pillars...

Djokovic, Nadal, Federer Into Last 32 As Barty...

Former German FA President banned for One year...

Zimbabwe captain retires from international duties

Usain Bolt emerges Best Male Athlete of 2015,...

CHAN: Salisu Yusuf says no cause for alarm...

 

Latest News Nigeria is third best nation at 19th UFAK WAC Nottingham Forest bid £20m for Super Eagles’ Emmanuel Dennis FIFA U- 20 Women’s World Cup: Nigeria pips France 1-0 ‘Asaba ready to host first Diamond Superstars Kickboxing Championship’ Former Portugal midfielder Chalana dies aged 63 First batch of athletes arrive to rousing reception in Abuja Barcelona sell off assets to make signings in attempt to restore glory days Even in victory Bencic feels Serena’s aura Real Madrid Vs Frankfurt – Preview And Predictions Akwa United begins three weeks end-of- season break Baka is MVP as Raptors win OBN HOOP Summit Championship Serena Williams bids farewell to tennis after U.S. Open

 

Most Read Rangers International going, going . . . (50,075 views) Amaju Pinnick: A cat with nine lives (41,260 views) Second Term: Amaju Pinnick, Other NFF Heavyweights Home to Roost •How Pinnick Broke the Jinx (39,661 views) Missing $150,000 IAAF Grant: Solomon Dalung’s Hide and Seek game (39,648 views) Sports Development: Zenith Bank on the zenith (39,378 views) Gov. Abdullahi Ganduje’s solid footprints, commitment to sports development in Kano State (39,226 views) Current issues in Nigerian sports: Matters arising (38,933 views) NFF Presidency: Pinnick, Maigari, Ogunjobi, Okoye in Battle for Supremacy (38,320 views) Olopade, BET9A wave of revolution in NNL (37,695 views) Commonwealth Games 2018: Shame of Muhammadu Buhari, Solomon Dalung (36,604 views) Ibrahimovic’s Man U exit: Whose decision is it? And in whose interest? (34,968 views) John Mikel Obi: Segun Odegbami’s Outrageous Call! (34,435 views)

 

 


 

News Athletics (445) Basketball (304) Boxing (736) Columnists (674) Euro Soccer Update (13655) Fans Assembly (6) From the Grassroots (68) Golf (124) Interviews (17) Live Commentary (7) News (8168) NPL Glo Premier League (1316) People and Places (22) Readers Parliament (10) Tennis (940)

 

 

 

Phone numbers

Tel: +234(0)8066020976
+234(0)8055068145
+234(0)7013416146
+234(0)8094272884

Email addresses

info@dailysportsng.com
support@dailysportsng.com
publisher@dailysportsng.com

Office address

No 3, Adetoun Close, Off College Road, Ogba, Ikeja Lagos.
Website: www.dailysportsng.com

Social Media