Leaked papers reveal investments from Mr Abramovich worth $6bn (£4.7bn) were routed through companies in the British Virgin Islands (BVI), but evidence seen by the BBC suggests they were managed from the UK, so should have been taxed there.
The BBC and the Bureau of Investigative Journalism, external have been examining the papers for over a year – thousands of files and emails from a Cyprus-based company that administered Mr Abramovich’s global empire.
The BBC and its media partners, including The Guardian, have been reporting on the leaked files since 2023 as part of the International Consortium of Investigative Journalists’ Cyprus Confidential, external investigation.
Some of the money that funded Chelsea FC when Mr Abramovich owned it can be traced back to companies involved in the scheme, the BBC and its partners also found.
Mr Powell’s letter said these findings raise “serious questions about Mr Abramovich’s potential tax liabilities”
It called on HMRC “to investigate and, if appropriate, to reclaim any funds potentially owed by Roman Abramovich to the UK tax authorities” in reference to the findings from the BBC, TBIJ, and The Guardian.
“Given the scale of the sums involved, ensuring that any unpaid taxes are recovered is a matter of public interest—particularly at a time when funds are urgently needed for public services and to manage the national debt,” the letter added.
A HMRC spokesperson said it was “continuing to lead international efforts to improve global transparency”.
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