One of the most wealthy people in motorsports history has recently been put under the microscope with the recent leak and release of the “Paradise Papers.” The Guardian reports that Hamilton possibly sidetracked paying taxes on his private red Bombardier Challenger 605 using an offshore accounting structure. The taxes would potentially should have went to Europe but this is currently under investigation by HM Revenue and Customs.Source:Instagram
This whole situation for Hamilton has come to the surface due to the accounting firm Appleby who handles many wealthy or celebrity accounts. Appleby is at the center of the Paradise Papers leak which shows dozens and dozens of clients and how their accounting is setup all across the world with potentially artifical leasing businesses through which the client rents their own properties for themselves.Source:Instagram
What should be known is that legitimate tax avoidance operations are not at all illegal, creative accounting at its best for the client. There is zero suggestion that Lewis is directly involved with what happened, just more interesting than anything out there with the champion just wrapping up his 4th Formula 1 World Championship last weekend in Mexico.