HMRC left red-faced as pursuit of tycoon collapses

THE former co-owner of Charlton Athletic Football Club has fended off a probe by the taxman, in a major embarrassment for HMRC.

Tony Jimenez has lived in Cyprus and Dubai since 2004 but has faced an investigation by the Revenue which began in 2012.

He has now successfully overturned HMRC demands for information about his tax affairs in the High Court.

Experts who advised 54-year-old Jimenez claim it is a wider victory for expats that could put thousands of people’s cash beyond the reach of the Exchequer.

HMRC had obtained an order from the Tax Chamber for the tycoon – who has also been involved in Newcastle United Football Club and is locked in a lawsuit with the club’s owner Mike Ashley – to hand over information on his affairs from 2004 to 2013. Failure to comply can lead to fines of up to £1,000 a day. But lawyers for Jimenez (pictured) have had the decision overturned – meaning his business can remain concealed from prying eyes.

In a ruling seen by the Mail, High Court judge Mr Justice Charles said: ‘The taxpayer notice given to him was not lawfully given and should be quashed.’ Adding insult to injury, HMRC was also ordered to pay Jimenez’s costs. The tycoon’s barristers argued he should not have to provide information about the period in question because he lived abroad and was therefore covered by a foreign tax regime. Jimenez said: ‘For a long time, HMRC have held the view that distance was no object to their powers meaning any expats were in HMRC’s sights long after they had left. ‘This ruling shows that is fundamentally not the case and that HMRC’s powers actually stop at the UK border,’ he said. Born in Brixton, South London, the businessman hails from a Spanish family and made a name for himself as a football agent with a gold-plated contacts book.

He co-owned Charlton from 2011 to 2013 and is no stranger to the British courts. He was sued by former Chelsea and England footballer Dennis Wise – once a close friend – over failure to invest £500,000 of Wise’s money in a golf course in France. Newcastle owner Ashley is taking Jimenez to court for £3.8m with similar claims.

Jimenez denies any wrongdoing and the case continues.

A HMRC spokesman said: ‘We are disappointed by the judgment and are considering whether to appeal.