It has been revealed that seven-time World Champion Lewis Hamilton’s £16.5 million UK home is actually owned by an offshore company, something that was discovered after the Formula 1 star declared himself as a beneficial owner of an overseas company that owns a property in the UK.
Hamilton was one of several celebrities to feature on the list, with the 38-year-old’s spokesperson declaring that it doesn’t give him “any UK tax advantage”.
It was discovered following a scheme conducted by the government to ensure that HMRC are collecting the right amount of tax, with Hamilton being “supportive of the new register”.
Owning a property in the UK through an offshore company is completely legal and well within anyone’s rights should they wish to do so, with the 103-time Grand Prix winner owning three properties in the UK through three companies he owns, all of which are registered in the British Virgin Islands.
“The ownership of Lewis Hamilton’s UK properties via the companies listed on the register of overseas entities does not give him any UK tax advantage or other financial benefit,” Hamilton’s spokesperson told The Guardian.
“Lewis is supportive of the new register, demonstrated by his inclusion of the UK properties and associated companies, along with his beneficial ownership on the register.”
The Mercedes driver is currently gearing-up for yet another attempt at claiming an unprecedented eighth Drivers’ World Championship, with the Brit having endured a miserable 2022 campaign.
Ahead of the season, though, the Briton made an incredibly rare podcast appearance, where he discussed how people “shouldn’t be able to have billions”.
“One of the things I struggle with every day is, and it’s just how life is and it’s been the way for thousands of years, is there is such a disparity between the wealthy and the poor,” he said on the ‘On Purpose with Jay Shetty’ podcast.
“When you drive around L.A., there’s still so many people living on the streets.
“You shouldn’t be able to have billions. There should be a limit to how much you can have. Because there’s enough to go around to everyone. So somehow creating a law that creates more equality and equal access for everyone. I don’t know how you would implement that law.”