Lawrence Dallaglio asks for additional time to enter into voluntary agreement to repay business debts after HMRC files application to liquidate former England rugby legend’s company
Lawrence Dallaglio asks for additional time to enter into voluntary agreement to repay business debts after HMRC files application to liquidate former England rugby legend’s company
- Lawrence Dallaglio’s accountants have filed a petition with the Supreme Court
- The English rugby legend’s company is under increasing pressure to pay debts
- HMRC has recently applied to dissolve its Lawrence Dallaglio Limited firm
Rugby legend Lawrence Dallaglio has been given more breathing space to keep his business afloat despite taxpayer action.
HMRC has applied to dissolve its company Lawrence Dallaglio Limited, but accountants are seeking additional time to repay the money owed.
The IRS and other creditors will now vote on whether the company will be allowed to enter the legally binding voluntary arrangement under which debts will be repaid within an agreed timeframe.
Insolvency practitioners Turpin Barker Armstrong have applied to the High Court in London to ask his company Lawrence Dallaglio Ltd to enter into an arrangement with creditors.
Dallaglio was part of England’s Rugby World Cup winning team in 2003 and is also facing personal bankruptcy proceedings also brought against him by the tax authorities.
Lawrence Dallaglio seeks extra time to pay back money from his company
The rugby legend is under pressure after HMRC filed an application to dissolve his firm Lawrence Dallaglio Limited
He owes £700,000 in personal back taxes to HMRC, which is undertaking bankruptcy proceedings against the ex-star.
In June, he was given more time to pay this back after saying he was trying to raise money by selling a property.
Dallaglio, 50, and wife Alice, 47, own a house worth an estimated £3.2 million in Richmond, Surrey.
Last month, he filed accounts for Lawrence Dallaglio Limited covering the 12 months to the end of April this year, showing he took out a loan of £338,263 from the company, as well as a loan of £553,947 in 2022.
After making some payments, he owes the company £366,510, the accounts say. Dallaglio is the sole director of the company and the accounts show that once the company’s liabilities are drained from its assets, it has capital and reserves of just £2.
A father of two, Dallaglio played his entire rugby career for Wasps and retired in 2008. Now he works as a pundit for ITV.
Dallaglio was part of England’s 2003 Rugby World Cup winning team
Dallaglio also owes £700,000 in personal back taxes to HMRC, which is undertaking bankruptcy proceedings against the ex-star
He has spoken of how rugby was his savior after his sister Francesca died in the Marchioness disaster on the River Thames in 1999. She was at a party on the boat when it collided with another vessel, the dredger Bowbelle, and was one of 51 people killed in the tragedy.
Dallaglio resigned as England captain in 1999 over allegations that he had taken drugs, including cocaine and ecstasy, while celebrating the 1997 British Lions tour. He refuted the allegations, saying he had been the victim of a set-up.
Dallaglio’s name was mentioned three years ago in a six-week trial in which he was not involved in which it was learned that he had paid up to £10,000 a time in brothels and frequented a London mansion, although he gave no testimony in court. trial, and was never a suspect in the case nor arrested.
A trial against a gang accused of supplying prostitutes and class A drugs, at Wood Green Crown Court, heard his name was discovered when detectives raided the brothel in July 2019 and went through bank card receipts.