Home Sport Formula 1 Lewis Hamilton Tax Fraud Case, Know Every Details of Case

Lewis Hamilton Tax Fraud Case, Know Every Details of Case

- Advertisement -

Mercedes driver Lewis Hamilton came under the scanner and not in a good way in 2017. That year, the Paradise Papers Were leaked so he had been under investigation for preventing taxes by British taxation authorities and the Briton’s name cropped up on the listing.

In 2013, the world champion was on an elaborate plot that included Moving his private jet. As he’d be the receiver of a VAT yield upwards of 3 million, according to the Guardian and the BBC, the move was financially strategic.

- Advertisement -

According to allegations in the International Consortium of Investigative Journalists (ICIJ), Hamilton procured aid by EY and Appleby. What Happens additional bad news for Lewis Hamilton was that Ey and Appleby are in the epicenter of the ‘Paradise Papers’ leaks.

The Bermuda-based law company allegedly set up’ artificial leasing Companies’ and began the VAT rebates. It is thought that the jet is worth around 16.5 million lbs and Hamilton had posted pictures on social websites of it.

Also Read:  What with Williams after shocking Financial News?

He made some arrangements and bought the airplane using a company in the British Virgin Islands, who leased it out to a different company in the Isle of Man. Lewis Hamilton employed this procedure to get VAT refunds on his use of this jet, which he sold.

According to The Guardian, there was no evidence Hamilton himself involved with the scheme but was following the recommendation of Appleby and EY.

The driver’s lawyers told BBC that the practice was not against the law, as per a review by some, and a tax barrister VAT had been paid through the arrangements.

“All our information, whether in planning or compliance, is based on our knowledge of tax law and providing transparency to tax authorities,” EY stated in a statement.

But when he had been asked about the case, he insisted it would not influence him on the course.

- Advertisement -
Anoj Kumar
Anoj Kumar is the Editorial Director for the AutoFreak. Anoj has been consistently named one of the top Influencers and Author by independent organizations. He is a frequently quoted source in Auto-Mobile.
2,728,005FansLike
41,445FollowersFollow
19FollowersFollow
228SubscribersSubscribe

Must Read

2020 JEEP GLADIATOR: INTERIOR, EXTERIOR, PRICING, MECHANICALS EVERYTHING TO KNOW ABOUT IT!!!!!!!

Jeep eventually brings a pickup truck lower back to its lineup, and even though the Gladiator is based heavily on its Wrangler relative, that...

2020 HONDA CIVIC: FEATURES, ENGINE, FUEL EFFICIENCY, PRICE REVEALED!!!!

The 2020 Honda Civic is one cool cat – and prefer with all Hondas and satisfactory wine – it's going to get better because...

The 2020 Ferrari SF90 Stradale: the sleek style and electric talks all

We can view the automobile industry moving towards the electric versions. And it is surely the safe future of this as well. And in...

The 2021 Audi RS 6 Avant: A new Performer

The 2021 Audi Rs 6 Avant is a car, which connects itself emotionally with the drivers. And it goes readily with the drivers that...

2020 Chevrolet Blazer: the crossover you must have a look at.

The 2020 Chevrolet Blazer isn't much of Jeep chasing wilderness car. But rather it gives us an impression of slick, and decidedly street-oriented crossover...

Dodge launches Charger SRT Hellcat Redeye, world’s fastest sedan…

Dodge has been famous for juicing up its cars. Big blocks that have some pretty huge turbochargers peeking up the hood. If not that,...

BMW plans ahead of time and is surely going to rain new vehicles

Well, the image was just a clickbait, but if you are here you won't regret it. Here a glimpse of recent spotting of various upcoming...

2020 Subaru Outback: Here Is Everything We Need to Know About New Subaru Model !!!

The 2020 Outback supplies 260 horsepower, 277 pound-feet of torque, and a variable transmission for 23 miles according to gallon metropolis and 30 mpg...

Know About 2020 Toyota Highlander Hybrid Review, Mileage, Specs, Picture, And Latest Updated News !!!

2020 Toyota Highlander Hybrid Reliability Score: 4.5/5 USN Overall Score: 8.1/10 the usual gas-powered model, the Toyota Highlander Hybrid is fully redesigned for 2020. While...

Nissan 370Z: Know Price, Specs, Mileage, Picture, and Many other Notable features !!!

The Nissan 370Z is a sound level sports car, and very true to its profession. And it is the sixth generation version in the...