The superstar jockey revealed last year that he had been declared bankrupt over unpaid tax which resulted from his involvement in a tax avoidance scheme
12:27, 14 Jan 2026Updated 12:27, 14 Jan 2026
Frankie Dettori: owes HMRC over £760,000(Image: AFP via Getty Images)
Frankie Dettori is “not expected” to be able to pay the huge tax debt he has racked up as a result of his involvement in a tax avoidance scheme, according to liquidators.
It emerged at the end of 2024 that the world famous jockey, who relocated to the US in 2023, had been attempting to untangle his tax affairs in Britain after they were challenged by HMRC. The 55-year-old lost a legal battle over his anonymity in proceedings at a specialist tax tribunal, after which Dettori revealed issues had arisen after he had employed specialist tax advisers to look after his and his family’s financial affairs.
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“A structure was created and I was told that it had been approved by HMRC,” he said in a statement. “Years later HMRC is now challenging that structure. My former advisers have since been dismissed.”
In March the jockey made the shock announcement that he was filing for bankruptcy.
Dettori said: “For the last six-months, my advisors have been working with HMRC in an attempt to find a solution to my financial situation. Regretfully, I will be filing for bankruptcy. I am saddened and embarrassed by this outcome and would advise others to take a stronger rein over their financial matters.
“Bankruptcy is a major decision and its consequences will affect me for many years. I am relieved to be drawing a line on this long-term matter, which enables me to reset and focus on my international riding career.”
Frankie Dettori raced the majority of his career in the UK(Image: PA)
A progress report on the voluntary winding up of Frankie Dettori Ltd by liquidator Scott Bevan was published by Companies House on Tuesday.
This detailed that Dettori’s company was placed into Members Voluntary Liquidation in October 2024, then in April 2025 this was converted into a Creditors’ Voluntary Liquidation at the request of HMRC.
The update said: “HMRC have raised significant concerns that the company and its associated company, Newmarket Activities Limited, have been utilised for the purposes of tax avoidance.”
Frankie Dettori: rode in his final race at the Breeders’ Cup(Image: PA)
It said investigations were ongoing and there are “several lines of enquiry which require further review”.
The report added: “Accordingly, we have instructed solicitors Nelsons Law to assist with our ongoing investigations and provide further legal advice”. The investigations are “still in their infancy”.
Dettori owes £765,542 to HMRC, £6,391 to a car leasing company while the liquidators’ fees will take the debt to nearly £900,000.
Frankie Dettori: rode a winner in Uruguay in January on his South American tour(Image: YouTube)
The report continued: “According to the directors’ statement of affairs, the company had two unsecured creditors with debts totalling £771,993.
“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. This is subject to change based on the final outcome of our investigations.”
Dettori, who had his final rides in the US at the Breeders’ Cup in November, is in the midst of a farewell tour to South America. He plans to retire permanently after riding in Brazil in February then take up a role as a global brand ambassador for Kia Joorabchian’s Amo Racing.