Bernie Ecclestone, pictured at the High Court during Petra’s divorce case, was reportedly quizzed under caution
Former racing chief Bernie Ecclestone has been questioned as authorities intensified scrutiny in a £1billion probe, it has emerged.
The 87-year-old was reportedly quizzed under caution by HMRC in central London at a police station.
The ex-Formula 1 boss has consistently denied owing up to £1billion and was allegedly quizzed over his £2.5billion empire.
He was questioned as his 33-year-old daughter, Tamara, was called to an HMRC base, according to The Sun.
‘Bernie was given a date to be questioned by HMRC officials under caution about tax affairs,’ a source told the paper.
‘This is the first time he has been called in to face taxmen at a police station. It signals a significant move by HMRC in their long-running battle with Bernie.’
There is no suggestion Bernie has broken tax laws but investigators have been looking into his family’s Bambino trust for more than 10 years.
It was set up in 1997 by ex-wife Slavica and is based on Liechtenstein. Bambino trust is thought to have raised £3billion from selling F1 stakes.
Slavica, Tamara and her 28-year-old sister, Petra, are all beneficiaries of the trust.
When Bernie had a triple heart bypass in 1999, all of the share capital of F1’s parent company was transferred to a business called Petara in Jersey.
Slavica transferred the asset – his most valuable – in case he died.
She then moved the shares to the trust. The trust’s offshore location meant no tax was paid on the cash raised from selling the shares.
Bernie Ecclestone, pictured in Mayfair, London, with wife Fabiana, was questioned at a police station by HMRC
Bernie is prevented from controlling the trust because he is a UK resident. Were he to take control, he would be required to pay tax on the money raised from selling the shares.
If UK residents transfer assets to a non-domicile and income becomes payable to that person, the law states that the person making the transfer must not enjoy it.
The ex-F1 boss claims to have never controlled Bambino
The ex-F1 boss claims to never have controlled Bambino and in 2008 it was found he had not breached rules when transferring the shares.
Six years later investigators argued in court they had been ‘misled and relied on representations that were false’ and rescinded the settlement agreement.
In 2015 Bernie’s lawyers appeared at the High Court and it was found he filed three lawsuits in an attempt to block a bill issued by HMRC.
The bill he was trying to block related to 13 years of income the trust had earned that totalled £674million with another £349million in interest.
At the time Bernie said he was ‘effectively suing’ the government department for ‘breach of contract’ due to their assessment of him.
Tamara visited HMRC’s base in East London in December. It is not suggested that she broke tax laws.
The body is granted the use of police interview facilities to question people they suspect of tax irregularities under caution.
Any evidence that is discovered can then be handed to the Crown Prosecution Service.
A spokesman for HMRC refused to comment about the interview, which reportedly took place last summer.