Connect with us

Four-time World champion Lewis Hamilton has found himself at the centre of an international tax avoidance scandal.

A trove of documents known as the ‘Paradise Papers’ reveals that the Mercedes driver as well as wealthy peers including Bono, Apple, Nike and even the Queen avoid tax through a series of secret offshore deals.

The Hamilton accusation centres around his private jet, in which Hamilton actually received a more than $4 million tax refund by importing it into the Isle of Man and claiming it was mainly used for business.

“We are talking about tens of billions that are effectively being leached from our vital public services by a super-rich elite that holds the taxation system and the rest of us in contempt,” said British politician Jeremy Corbyn.

A lawyer representing Hamilton insists the tax arrangement is legal.

According to the BBC, Hamilton’s lawyers said there had been no illegal activity but admitted no VAT had been paid on the plane.

“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,” Rita De La Feria, professor of tax law at Leeds University, told the BBC.

“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.”

A spokesman for Hamilton told Press Association Sport: “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.”

Comments

Latest Results




Latest F1 News

2018 F11 day ago

Ferrari to reveal 2019 car on February 15

Ferrari will reveal its 2019 challenger on February 15, team boss Maurizio Arrivabene said on Thursday. The Italian attended an...

2018 F12 days ago

F1 teams worried about Brexit crisis

F1 teams admit they are worried about the Brexit crisis that is occurring in Britain. After British people voted in...

2018 F12 days ago

‘I have mixed feelings’ about Kubica return – Vettel

Sebastian Vettel says he has “mixed feelings” about Robert Kubica’s return to formula one. Former grand prix winner Kubica, now...

2018 F12 days ago

Monza seeking EUR 100m for upgrade

Monza is looking for EUR 100 million to upgrade the Italian grand prix venue and secure a new grand prix...

2018 F13 days ago

Sirotkin to test DTM, Hartley to Porsche

Sergey Sirotkin could keep his motor racing career alive in the German touring car series DTM. SMP Racing, his Russian...

2018 F13 days ago

McLaren not ‘copying’ Red Bull car – Sainz

Carlos Sainz has played down claims McLaren is ‘copying’ Red Bull’s chassis concept for 2019. With Red Bull moving to...

2018 F13 days ago

Barcelona hopes for new F1 contract

Organisers of the Spanish grand prix are still not sure they will reach a new agreement with Liberty Media. Vicenc...

2018 F14 days ago

Berger sees F1 chance for nephew Auer

is hoping his nephew may have a future in formula one. One the one hand, the F1 legend said he...

2018 F14 days ago

Hamilton teammate Bottas ‘is not there’ – Verstappen

Max Verstappen has admitted he will try to emulate Lewis Hamilton and Mercedes’ approach to winning the world championship. The...

2018 F14 days ago

Mexico GP future in doubt

A cloud has moved above the future of the highly popular Mexican grand prix. The rejuvenated race at the iconic...




Most Popular

ThisisF1.com is not affiliated with Formula 1, Formula One Management, Formula One Administration, Formula One Licensing BV, Formula One World Championship Ltd or any other organization or entity associated with the official Formula One governing organizations or their shareholders. Copyrighted material used under Fair Use/Fair Comment.

References
We could use the following leading F1 news sources for stories: SkyF1, BBC F1, Autosport, ESPN F1, FIA Media Center, MotorSport, JamesAllen and others leading authors blog.

All Rights Reserved © 2017 Prime Sport Media