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Gary Lineker, the former England footballer turned television presenter, has strategically placed his television production company, Goalhanger Films, into voluntary liquidation ahead of upcoming capital gains tax increases.
The company was co-owned by former ITV controller Tony Pastor and reported net assets of more than £440,000 in its last published accounts.
The decision comes after the UK government announced in the recent budget that capital gains tax rates will rise from 10% to 14% from April, with a further increase to 18% in 2025. By liquidating the company now, Lineker and Pastor can benefit of the current lower tax rate on distributions from the company’s assets.
Tony Pastor confirmed that Goalhanger Films is being “mothballed”, allowing the duo to focus on their fast-growing business, Goalhanger Podcasts. The podcast platform hosts popular series such as The Rest Is History and The Rest Is Football, and earlier this year reported a net worth of almost £591,000.
Lineker’s move is in line with the practice of Members’ Voluntary Liquidation (MVL), a process that enables solvent companies to close their activities in a tax-efficient manner. An MVL allows business owners with significant retained earnings to treat the distributed funds as capital gains rather than income, potentially resulting in significant tax savings under the Business Asset Disposal Relief framework.
Goalhanger Films originally launched in 2014, producing high-profile sports documentaries featuring stars such as Mohamed Salah and Serena Williams. However, the shift to the more successful podcast division reflects Lineker’s adaptation to changing market dynamics.
Despite retiring from hosting Match of the Day after 26 years, Lineker remains a prominent figure at the BBC, with contracts to cover the FA Cup and the 2026 World Cup.
Lessons for entrepreneurs
Lineker’s financial move offers insights for entrepreneurs and business leaders:
Trade early
: Anticipating tax changes and making timely decisions can maximize financial benefits.
Consider MVL: For solvent companies planning to close, an MVL can be an effective tool to efficiently unlock value.
Adapt to growth: Shifting focus to more successful ventures ensures resources are allocated to areas with the greatest potential.