Coronation Street star Bill Roache facing bankruptcy despite earning £250,000-a-year as Ken Barlow
26.01.2024 - 09:03
/ manchestereveningnews.co.uk
Soap star Bill Roache, famed for his role on Coronation Street, is facing bankruptcy after HMRC filed a petition against him. It is understood Roache, 91, who has played Ken Barlow in the soap since 1960, is the highest-paid member of the cast, earning around £250,000 a year.
HMRC said it does not comment on individual cases, the Mirror reports. But a spokesperson said tonight: "We take a supportive approach to dealing with customers who have tax debts, and do everything we can to help those who engage with us to get out of debt, such as offering instalment plans.
“We only petition for bankruptcy as a last resort.” A spokesperson for Coronation Street said: "We're really sorry to hear of Bill's financial situation. Bill has an ongoing contract with Coronation Street and remains a much-loved member of the cast."
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In 2018 the Mirror told how the actor faced a huge bill after investing in a £500million Cayman Islands tax avoidance scheme. It was not known how much he had invested in Twofold First Services LLP, owned by a company in the Caymans. But he was one of 288 investors who entered the scheme and put in, on average, £1.75million.
Papers seen by The Mirror showed he joined the scheme in March 2012. It involved claiming tax relief from the artificial losses of a land-owning business. The complex arrangement meant investors could use the paper loss to reduce their income tax.
A tribunal later ruled in favour of HMRC, which successfully argued Twofold was "a tax avoidance arrangement". It was branded "abusive and artificial" by the Treasury.
Explaining why a bankruptcy petition is issued, a HMRC spokesman said yesterday: “When we file a petition for