Roman Abramovich tax dodge must be probed, HMRC urged

Published On Jan 30, 2025, 12:49 PM

A group of UK MPs, led by Labour MP Joe Powell, is urging the HMRC to investigate sanctioned Russian oligarch Roman Abramovich for potential tax liabilities amounting to £1 billion related to offshore investments. Reports suggest that while Abramovich's investments were routed through companies in the British Virgin Islands (BVI), they were managed from the UK, which may mean they are subject to UK tax. The investigation arises from leaked documents showing connections between Abramovich's funds—all traced back to investments that funded Chelsea FC during his ownership—and raises questions about tax compliance. The MPs stress the public interest in recovering any unpaid taxes, especially given current needs for public funds. HMRC, while investigating, remains focused on improving global transparency regarding tax obligations.