Frankie Dettori, the renowned three-time champion Flat jockey in the UK, currently faces a significant tax debt, totaling £765,000. This debt stems from the liquidation of his companies, Frankie Dettori Limited and Newmarket Activities Limited.
Background on Bankruptcy and Tax Debt
In March of last year, Dettori revealed that he had been declared bankrupt by HM Revenue & Customs (HMRC) due to unpaid taxes related to a tax avoidance scheme. Following a court case with HMRC, he worked to mitigate the financial difficulties attributed to advice from a financial adviser.
Liquidation Details
A report released on Companies House indicated that there will be no funds available to repay the debt owed to creditors….