Roman Abramovich, the sanctioned Russian Oligarch, is confronted with renewed control after a group of MPs has insisted HM Revenue & Customs (HMRC) to investigate accusations that he owes up to £ 1 billion in unpaid taxes.
The intervention follows reports from the BBC and the Bureau of Investigative Journalism that indicates that offshore investments that are worth billions of pounds are possibly managed from the UK, creating a domestic tax obligation.
In a letter to HMRC, Joe Powell, the Labor Member of Parliament who leads a parliamentary group on fair taxes, insisted on a “good investigation” in the light of the evidence that suggests that some of Abramovich’s British Virgin islands (BVI) companies in the practice had been administered, administered, administered, administered, administered, administered, administered, administered, administered, administered, administered, administered, administered, administered, administered, in practice, administered , administered, in practice, administered, administered, administered. On home floor. The letter pointed out to leaked files that reveal investments worth $ 6 billion that are routed through the BVI, but reportedly under the supervision of persons established in the VK, making it possible to activate British tax obligations.
HMRC replied by stating that it is “dedicated to ensure that everyone pays the correct tax under the law, regardless of wealth or status.” In the meantime, Abramovich’s lawyers claim that “he has always obtained professional tax and legal advice” and “acted in accordance with that advice acted.”
The leaked articles- investigated by the BBC, The Guardian and the Bureau of Investigative Journalism as part of the ‘Cyprus Confidential’ project-suggested that a close employee of Abramovich, the British citizen Eugene Shvidler, has carried out a significant authority about BVI registered investment vehicles. According to British legislation, if the strategic decision -making of an offshore company occurs within the VK, that company may be subject to British taxes.
Abramovich, known for a long time for his ownership of Chelsea FC – whose financing is also linked to the offshore structure – was sanctioned by the British government in 2022 about his ties with the Kremlin. While offshore companies can lower the tax accounts legitimate if they are fully managed and controlled outside the UK, MPs claim that the questions in question require a full investigation.
“Given the size of the amounts involved, it is that unpaid taxes are recovered a matter of general interest,” is Powell’s letter, referring to the need for extra public financing in the light of current economic pressure.
Lawyers who represent Shvidler and Abramovich insist that the schemes were supported by professional advice and fully meet relevant regulations. However, critics claim that leaked documents contain a “tax dodge” as a standard offshore investment, so that new calls for HMRC are urged to reclaim the efforts to reclaim all the justified income.