Cross-party group on tax calls for HMRC to act after Guardian investigation finds former Chelsea owner may owe up to £1bn. The government and HM Revenue and Customs should urgently examine whether Roman Abramovich owes British tax authorities up to £1bn, more than 40 MPs and peers have said, after an investigation by the Guardian and media partners found that his companies may have failed to pay tax on profits from an elaborate offshore investment scheme.
The intervention, from both Conservative and Labour MPs, comes after leaked papers and court filings shed new light on how the income from a $6bn (£4.8bn) cash pile amassed by the former Chelsea FC owner was managed. Analysis, which was reviewed by experts, suggests his overseas investment companies failed to pay corporation tax and could be liable for up to £1bn including interest and late payment penalties.
If HMRC determined that such a sum were due, it would outstrip the record £652m paid by the former Formula One boss Bernie Ecclestone to settle a tax case in October 2023. On Thursday, 43 MPs and peers who are members of a all-party parliamentary group examining responsible tax wrote to HMRC, calling on the tax authority to review the investigation’s findings and determine whether it could “reclaim any funds potentially owed by Roman Abramovich to the UK tax authorities”.
They also called for an update on the status of Abramovich’s UK assets, after he was placed under sanctions by the government in response to Russia’s invasion of Ukraine. In its sanctions notice, the Foreign Office said the former Chelsea FC owner was “involved in obtaining a benefit from or supporting the government of Russia”.
