HMRC

Frankie Dettori has been forced to file for bankruptcy after failing to reach an agreement with His Majesty's Revenue and Customs (HMRC) over a long-running tax avoidance case. The Italian released a statement to confirm this latest development on Thursday. "For the last six-months, my advisors have been working with HMRC in an attempt to find a solution to my financial situation," the statement read. "Regretfully, I will be filing for bankruptcy. "I am saddened and embarrassed by this outcome and would advise others to take a stronger rein over...

Frankie Dettori has been involved in a legal battle with HMRC over his anonymity, after using a "tax avoidance scheme", it can now be reported. After the lifting of his anonymity on Monday, Dettori said in a statement, "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. Years later HMRC is now challenging that structure. My former advisers have since been dismissed."...

Following continued representations to Her Majesty's Revenue and Customs (HMRC) by the Thoroughbred Industries Brexit Steering Group, a change to customs procedure has been made which will facilitate movement of horses into Britain for breeding and racing. A new, industry-specific, facilitation has now been agreed by HMRC to the Temporary Admission procedure, allowing intermediaries (such as a transporter or shipper) to apply for an authorisation enabling them to move Thoroughbreds under multiple ownerships, without the need for a financial guarantee. Previously, in the majority of cases, Thoroughbreds entering Great Britain...