Former Formula 1 Champion Loses £1.4m HMRC Tax Bill Appeal

Former Formula 1 champion loses £1.4m HMRC tax bill appeal

Former Formula 1 world champion Jody Scheckter has been forced to stump up £1.4m in unpaid tax after an appeal against an HMRC ruling on his buffalo farm failed in court. The 1979 F1 title-winner was forced to close the buffalo farm business in 2024 due to “significant increases in costs, a reduction in milk [...]

F1 world champion loses £1.4m tax bill fight over his buffalo farm

South African born driver Jody Scheckter, 76, retired from a highly successful career on the racetrack in 1980 and went on to become a biodynamic farmer.

Formula One champion Jody Scheckter loses £1.4m tax battle over failed buffalo farm

The farm failed to qualifiy for tax relief as it registered a loss year after year