Wednesday 22 November 2017

I paid £1m in taxes -- Redknapp

Tottenham manager Harry Redknapp told officers investigating allegations of tax evasion against him that he didn't need to "fiddle" after saying he paid £1m (e1.19m) in taxes.

Redknapp (64) and Sheffield Wednesday owner Milan Mandaric (73) are denying two charges of tax evasion over $295,000 (e223,000) paid into a bank account in Monaco when the two worked at Portsmouth soccer club.

Redknapp's comments came in tapes played on the fifth day of their trial in London.

Redknapp told a police officer and a tax official about how being "disorganised" led to his not being paid back £250,000 (e297,000) lent to a friend to buy soccer team Oxford United and a bigger loss after signing away half the rights to a £8.5m (e10.1m) property investment for nothing in return.

Redknapp said Mandaric assured him the taxes on the Monaco account in the name of the manager's dog, Rosie, had been paid.

He also said he'd given up the account as "dead" when, 18 months after it was opened in 2001, Mandaric told him investments made using the funds on Redknapp's behalf had been a "disaster."

"I could tell you stories that could blow your brains away," Redknapp told police in June 2009. "The money I've squandered trusting people. Unfortunately that's the way I live my life."

Redknapp said Mandaric told him to open the Monaco account so he could make some investments on his behalf in lieu of a bonus payment the coach claimed for selling former Portsmouth striker Peter Crouch to Aston Villa in 2002.

On the tapes, Redknapp is heard telling investigators he didn't declare the account on his tax return or tell his financial advisers about it because he thought it was empty.

Redknapp told police if he's done anything wrong it wasn't intentional, adding that he paid a "fortune" in tax, totalling about £1m in 2008.

"I've not purposely gone out to try and avoid paying some income tax, why should I do that, I'm not going to ruin my life, and my wife's life and my boys," Redknapp said.

The trial continues.


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