Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

John Barnes banned from company directorships over unpaid taxes

by April 25, 2024
April 25, 2024
John Barnes banned from company directorships over unpaid taxes

John Barnes, the former England footballer, has been barred from serving as a company director due to unpaid taxes amounting to over £190,000 after his media firm, which provided media representation services, failed  to pay taxes on income exceeding £400,000.

Barnes, renowned for his football career with 79 caps for England and stints at prestigious clubs such as Liverpool and Newcastle United, faces a three-and-a-half-year disqualification from directing businesses, as decreed by the Insolvency Service.

The service disclosed that Barnes’s company, John Barnes Media Limited, failed to fulfil tax obligations spanning from 2018 to 2020, culminating in its liquidation in May of the previous year following a winding-up petition by HM Revenue and Customs. Subsequently, an investigation by the Insolvency Service ensued from September onwards. Barnes, as the sole director, established the company in September 2012.

In response, Barnes has consented to a disqualification undertaking, precluding his involvement in company promotion, formation, or management without judicial sanction.

Mike Smith, chief investigator at the Insolvency Service, said Barnes had a “legal duty” to ensure his company was paying the correct corporation tax and VAT.

“Individuals and businesses not paying the tax they should deprives the government of the funding it needs to provide vital public services and investment in areas such as schools, hospitals and roads,” he said.

Barnes, whose football career spanned from playing for Watford to managing Celtic, and who was honoured with an MBE in 1998, ventured into entrepreneurial pursuits post-retirement. Notably, he co-founded Team 48 Motorsport with former footballers Les Ferdinand and Luther Blissett, aimed at supporting young racing drivers from African-Caribbean backgrounds. However, this initiative was eventually dissolved.

Barnes has openly acknowledged his past financial management challenges, admitting to imprudent spending habits during his football career. Reflecting on his earlier years, he candidly acknowledged extravagant purchases like an Aston Martin and lavish attire.

Read more:
John Barnes banned from company directorships over unpaid taxes

0
FacebookTwitterGoogle +Pinterest
previous post
Labour set to renationalise most rail services within five years
next post
Rachel Reeves: Labour Will Prioritise Pro-Business Policies, Aiming to Boost UK Economy

You may also like

Living with long covid set to be improved...

May 16, 2023

Lord Frost urges UK to ‘fully and enthusiastically...

February 14, 2023

Is Monetary Policy the Force Behind Shifting Exchange...

January 29, 2025

Deliveroo raises profit guidance on back of surging...

January 17, 2025

Supply chain recovery feeds optimism among companies

April 11, 2023

Government borrowing rises higher than expected to £55bn

August 19, 2022

Amazon workers stage first British warehouse strike in...

January 25, 2023

Uber investigating computer network breach

September 16, 2022

Chapel Down on the Market Amid Soaring Demand...

June 25, 2024

Labour’s economic pessimism halts UK equity market recovery,...

October 4, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved