Thursday, November 06, 2008
Gazza escapes bankruptcy
Former England star Paul Gascoigne has been given nine weeks' breathing space to file his late tax returns and fend off a bankruptcy petition by Revenue and Customs.
Gascoigne has not filed any returns for the past two years and the taxman is petitioning on the basis of an estimated £200,000 liability.
At London Bankruptcy Court on Thursday the case was adjourned until January 9 with the Revenue's agreement.
Gascoigne's solicitor Craig Montgomery told Deputy Registrar Kyriakides the former player's financial affairs were complex, involving interests overseas, and time was needed to submit returns and liquidate assets to meet his liabilities.
Gascoigne did not attend the hearing and outside court Mr Montgomery stressed: "There is no suggestion that he doesn't have the funds to meet his tax liabilities. It is just a question of having time to make the returns. It takes time to work out where everything is."
Gascoigne has not filed any returns for the past two years and the taxman is petitioning on the basis of an estimated £200,000 liability.
At London Bankruptcy Court on Thursday the case was adjourned until January 9 with the Revenue's agreement.
Gascoigne's solicitor Craig Montgomery told Deputy Registrar Kyriakides the former player's financial affairs were complex, involving interests overseas, and time was needed to submit returns and liquidate assets to meet his liabilities.
Gascoigne did not attend the hearing and outside court Mr Montgomery stressed: "There is no suggestion that he doesn't have the funds to meet his tax liabilities. It is just a question of having time to make the returns. It takes time to work out where everything is."
