CORONATION Street legend Bill Roache’s money woes began 30 years ago – and have included a Cayman Islands tax relief scheme.
Roache, 91, has played Ken Barlow in Corrie since 1960 – but is now facing bankruptcy for the second time.
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HMRC lodged papers against the father-of-five at London’s High Court on Tuesday.
Details of the taxman’s petition over unpaid arrears remain confidential.
But Roache is known to be among 288 high-earners who invested an average £1.75million each in an off-shore firm deemed a “tax-avoidance arrangement”.
His financial woes date back to 1991, when he won a libel action after The Sun described him as “boring”.
He was awarded £50,000 in damages after turning down the same amount in an out-of-court settlement – and had to pay £120,000 costs.
The actor then spent more money suing his lawyers – and lost.
He was declared bankrupt in 1999, and two years later his creditors estimated he had unpaid debts of £600,000.
In 2012 he became a “designated member” of Twofold First Services LLP, which was owned by a company registered in the Cayman Islands.
It ran a scheme which involved claiming tax relief from the artificial losses of a land-owning business.
In a landmark victory for HMRC in 2018, a tribunal ruled Twofold was “a tax-avoidance arrangement”.
It was branded “abusive and artificial” by the Treasury and a London court rejected the prospect of further appeals.
HMRC said: “We take a supportive approach to dealing with customers who have tax debts.
“We do everything we can to help those who engage with us to get out of debt.
“We only petition for bankruptcy as a last resort.”
The actor declined to comment.
