LONDON — Renowned Italian jockey Frankie Dettori has stated that he is “working closely” with the UK tax authorities following a setback in a legal matter regarding his tax obligations.
Dettori is currently embroiled in a dispute with HM Revenue and Customs (HMRC), which has questioned certain tax deductions he claimed.
In a ruling from 2022, a judge had granted Dettori the right to remain anonymous in this case. However, that changed recently when a court denied his request to keep his name confidential, leading to his identification in a ruling published on Monday.
The Press Association, among other media outlets, contested Dettori’s anonymity, and he subsequently released a statement indicating that he has sought the assistance of new advisers to address the complex situation surrounding his financial affairs.
In his statement, Dettori explained that a few years back, he employed professional tax advisers to manage his family’s financial matters. He claims they established a financial structure that was considered acceptable by HMRC at the time.
However, Dettori noted that years later, HMRC began to challenge that very structure. He has since parted ways with his original advisers, asserting that he felt they had mismanaged his affairs.
He conveyed that his new team is actively engaging with HMRC to expedite the resolution of the issue.
Hui Ling McCarthy, the legal representative for HMRC, stated that Dettori’s status as a public figure does not sufficiently justify withholding information from the public regarding his financial matters, emphasizing the importance of open justice.
Dettori had previously announced his plans to retire following the conclusion of the 2023 racing season but later retracted that decision and opted to continue his career in the United States.