Formula One champion Lewis Hamilton avoided paying taxes on his private jet using an elaborate scheme now under investigation by British tax authorities, new leaked documents revealed. The driver received a £3.3 million ($4.4 million, EUR3.7 million) VAT refund in 2013 after his luxury plane was imported into the Isle of Man -- a low-tax British Crown Dependency, according to the BBC and Guardian newspaper. There is also no indication Hamilton was directly involved in creating the scheme, and simply followed professional advice, the Guardian said. "All our advice, whether in planning or compliance, is based on our knowledge of tax law and providing transparency to tax authorities," it added in a statement. Hamilton, recently crowned world champion for a fourth time and one of richest sportsperson in the world, bought the jet -- a Bombardier Challenger 605 -- for £16.5 million.

Source: dna November 07, 2017 05:20 UTC