Frankie Dettori's liquidated companies will be unable to pay over £765,000 owed to HM Revenue and Customs (HMRC), according to a recent Companies House filing.
The 55-year-old jockey filed for bankruptcy last March due to unpaid tax from a 'tax avoidance scheme', stating he was 'saddened and embarrassed' after being left to 'unravel the mess' by a previous financial adviser.
An update on the liquidation of Frankie Dettori Limited and Newmarket Activities Limited, published on Tuesday, confirmed there were no funds to repay the debts, with £765,542 owed to HMRC as of October last year.
The report stated: 'Assuming that realisations and expenses are as anticipated, it is not expected that there will be a return to unsecured creditors due to insufficient funds.' An additional £115,429 is owed in liquidator's fees.
HMRC has raised 'significant concerns' that the companies were used for tax avoidance, and liquidators are investigating, though inquiries are 'in their infancy' with 'no realisations made'.
Dettori lost a challenge over anonymity in a tax tribunal in December 2024, allowing his name to be published. He is due to be released from bankruptcy on 17 March.
