• Text size
  • Send this article to a friend
  • Print this article

tax heaven

What a result for football manager Harry Rednapp against the Revenue.

Turns out the £200k in his Monaco bank account was not taxable income. Just a gift from his grateful friend Milan Mandaric who happened also to be chairman of the club where Harry worked.

Harry's case sets an important precedent. The way is now clear for wealthy individuals to lodge large sums of money in any of my bank accounts without interference from Her Majesty's Revenue and Customs.