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Home Formula 1

Bernie Ecclestone UK’s second biggest taxpayer after £650m fraud settlement

January 30, 2024
in Formula 1
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Bernie Ecclestone UK’s second biggest taxpayer after £650m fraud settlement


Ex-F1 supremo Bernie Ecclestone has been named as the UK’s second-biggest taxpayer final yr following his £650 million fraud settlement.

Ecclestone was pressured to pay the hefty settlement after he was discovered responsible of failing to declare greater than £400 million held in a Singapore belief.

The 93-year-old was spared jail after he agreed to settle £652.6m in tax that he was meant to pay HM Income & Customs.

Ecclestone was narrowly overwhelmed to prime spot by Russian-born monetary dealer Alex Gerko, who paid £664.5 in tax.

“I’ve all the time paid tax within the UK, yearly I all the time have,” he informed the Occasions.

“The problem was in regards to the tax I earned abroad that the (UK) taxman thought I ought to pay UK tax on.

“It was an sincere mistake and I feel everybody knew that.”

Ecclestone was answerable for F1 for over 40 years, along with his tenure coming to an finish in 2017 when Liberty Media acquired possession.

The 93-year-old nonetheless makes sporadic paddock appearances.



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Tags: 650mBerniebiggestEcclestoneF1 2024fraudsettlementtaxpayerUKs
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