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Racing legend Frankie Dettori files for bankruptcy & admits he’s ’embarrassed’ after secret ‘tax avoidance battle’


FRANKIE Dettori will file for bankruptcy as he admitted “I am saddened and embarrassed by this outcome”.

The legendary jockey, 54, was previously named as the “tax avoidance scheme” star in a battle with HMRC.

Frankie Dettori at the QIPCO British Champions Day.

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Racing legend Frankie Dettori will be filing for bankruptcyCredit: Getty
Jockey Frankie Dettori winning the G3 Dinner Party Stakes.

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The world’s most famous jockey bid farewell to Blighty in October 2023Credit: Getty
Couple on a beach selfie.

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Dettori and wife Catherine are said to be absolutely loving life in the States

Dettori said: “For the last six-months, my advisors have been working with HMRC in an attempt to find a solution to my financial situation. 

“Regretfully, I will be filing for bankruptcy.

“I am saddened and embarrassed by this outcome and would advise others to take a stronger rein over their financial matters. 

“Bankruptcy is a major decision and its consequences will affect me for many years.

“I am relieved to be drawing a line on this long-term matter, which enables me to reset and focus on my international riding career.”

He and his lawyers at a tax tribunal tried to stop his ­anonymity from being lifted and said he was told the scheme was approved by the taxman.

Dettori was named in public court documents last year.

He originally brought the legal case against HMRC after he was rejected for some deductions in income tax.

Judges had ruled his identity could be kept private but media organisations and HMRC challenged the anonymity order.

After the lifting, the Italian said: “A few years ago, I employed the services of professional specialist tax advisers to look after mine and my family’s financial affairs.

Frankie Dettori rides SIX winners in a row at stunning combined odds of 77,000-1 then looks visibly shocked in interview

“A structure was created and I was told that it had been approved by HMRC.”

He added: “My former advisers have since been dismissed.”

HMRC said: “We welcome this decision, which represents an important win for the principle of open justice.”

The world’s most famous jockey bid farewell to Blighty in October 2023 with one last unforgettable ride.

His last-to-first heroics on King Of Steel in the Champion Stakes came at Ascot – the same track where he became a household name with his Magnificent Seven back in 1996.

Dettori then jetted off to start a new life in the States with wife Catherine.

He said: “I should have done this ten years ago.”

But not before a rotten stint on I’m a Celeb… where he was the first to be voted off.

Dettori loves the lifestyle on the West Coast – he said he feels like Tom Cruise strutting his stuff in front of “stupendous” US fans.

Frankie Dettori on his last day of riding in the UK.

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He was previously named as the ‘tax avoidance scheme’ star in a battle with HMRCCredit: Splash
Man in hospital gown with dislocated shoulder.

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He suffered a dislocated shoulder after he was unseated before a race at Aqueduct racecourse in New York
Frankie Dettori at Newmarket Racecourse.

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Dettori was named in public court documents last yearCredit: Getty



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