Lewis Hamilton avoided taxes on £16.5m jet using Isle of Man scheme

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Paradise Papers reveal F1 champion’s advisers set up offshore structure that experts say may be open to legal challenge

The Formula One world champion, Lewis Hamilton, one of the world’s richest sportspeople, avoided paying European taxes on his private jet using an Isle of Man scheme that is to be investigated by HM Revenue and Customs.

The big four accountancy firm EY and Appleby, the law firm at the centre of the Paradise Papers leak, helped Hamilton and dozens of other clients set up seemingly artificial leasing businesses through which they rented their own jets from themselves.

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view The Guardian: World News
#tax havens
#tax avoidance
#formula one
#isle of man