Chris Moyles claimed to be used car dealer to avoid tax

clock

Former Radio 1 breakfast show host Chris Moyles tried to avoid paying £1m tax after signing up to a scheme which saw him claim he was a used car salesman.

The DJ said he had learned a "valuable lesson" after a tribunal ruling on the scheme, called Working Wheels, which he said he was advised to join. The Tax Chamber of the First-tier Tribunal ruled he and two others had been part of the scheme between 2006 and 2008. The report explained the scheme worked by allowing its members - said to include other high profile stars - to say they had incurred large fees while working in the second-hand car trade. They then claimed these costs back against their tax bill. Some 450 celebrities, fund managers and other high profile earners were repo...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Partner Insight: The attractions of the small-mid private equity segment

Partner Insight: The attractions of the small-mid private equity segment

New empirical research from Schroders Capital reveals that small and mid-sized private equity funds have outperformed large funds with greater resilience through economic cycles

Viswanathan Parameswar, Eufemiano Fuentes Perez and Verity Howells at Schroders
clock 19 November 2024 • 4 min read
Partner Insight: Is it time to rebalance portfolios as the UK economy stabilises?

Partner Insight: Is it time to rebalance portfolios as the UK economy stabilises?

Brooks Macdonald
clock 18 November 2024 • 2 min read
Partner Insight: The case for value in a balanced portfolio

Partner Insight: The case for value in a balanced portfolio

It’s been an anemic time for value stocks but the managers of Vanguard’s active multi-asset range think a focus on valuations could be rewarded.

Madison McCall Active Product Specialist, Vanguard, Europe
clock 18 November 2024 • 5 min read
Trustpilot