Roman Abramovich could owe UK £1bn in unpaid tax

Scheme to avoid tax on offshore billions may have been botched because money was managed from the UK, BBC learns.

British Broadcasting CorporationWatch LiveHomeNewsSportBusinessInnovationCultureArtsTravelEarthVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifySportBusinessExecutive LoungeTechnology of BusinessFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureArtsTravelEarthVideoLiveAudioWeatherNewslettersRoman Abramovich could owe UK £1bn over tax dodge that helped bankroll Chelsea FC1 day agoJames Oliver, Harriet Agerholm and Will DahlgreenBBC News and File on 4 InvestigatesBBCSanctioned Russian oligarch Roman Abramovich could owe the UK up to £1bn after a botched attempt to avoid tax on hedge fund investments, evidence seen by the BBC suggests.

Leaked papers reveal investments worth $6bn (£4.7bn) were routed through companies in the British Virgin Islands (BVI). But evidence suggests they were managed from the UK, so should have been taxed there.

Some of the money that funded Chelsea FC when Mr Abramovich owned it can be traced back to companies involved in the scheme, the BBC and the Bureau of Investigative Journalism (TBIJ) also found.

The oligarch's lawyers said he "always obtained independent expert professional tax and legal advice" and "acted in accordance with that advice".

Mr Abramovich - who now reportedly divides his time between Istanbul, Tel Aviv and the Russian resort of Sochi - denies having any knowledge of or being personally responsible for any unpaid tax.

https://www.bbc.com/news/articles/cgrnqvqek4ro

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