A Frankie Dettori tax avoidance scheme, that the Italian jockey entered a few years ago, has landed the top jockey in hot water – with HMRC now unmasking him to the public and having a battle for unpaid taxes.
Dettori Tried To Keep His Tax Avoidance Scheme Out Of The Public Eye
It’s believed that Frankie Dettori, who now rides in California in the US, had a tax tribunal with his lawyers that tried to stop him being revealed to the public – but this was challenged by the HMRC, which led to his unmasking this week.
Dettori has said that he was told the tax avoidance scheme that he entered was approved by his old advisors by the taxman.
Initially judges had agreed to keep Dettori’s name out of the public eye, but this was disputed with HMRC – who challenged the anonymity order.
We finally know the name of the mystery taxpayer who bought a dodgy tax avoidance scheme and tried to obtain an anonymity order to keep his fight with HMRC out of the press.
It's Frankie Dettori. pic.twitter.com/sm02pFKvEQ
— Dan Neidle (@DanNeidle) December 9, 2024
Frankie Dettori Trying To ‘Unravel’ His Tax Avoidence Mess
Frankie Dettori said on the tax avoidance incident “A few years ago, I employed the services of professional specialist tax advisers to look after mine and my family’s financial affairs.
“A structure was created and I was told that it had been approved by HMRC. My former advisers have since been dismissed.
“My new advisers and management team are working hard to unravel the mess that I have been put in. They are also working closely with HMRC to resolve the matter as swiftly as possible.
HMRC responded: “We welcome this decision, which represents an important win for the principle of open justice. We’re committed to ensuring everyone pays the right tax under the law, regardless of wealth or status.
Frankie Dettori Has Won Over £153m In Prize Money For Owners
It’s not known how much unpaid tax Frankie Dettori, who has a net worth of between £15m-£18m, is being chased for by the HMRC
Dettori was due to retire as a horse racing jockey at the end of the 2023 season – but famously did a U-turn to carry on his riding career in the US, where he still rides.
He’s got no plans of hanging up his riding boots at the end of 2024 and is expected to race on into 2025 – still based in California.
While, having first started riding back in 1987, has won over £150m in prize money the owners of the horses he’s ridden.
