England legend John Barnes faces fresh bankruptcy threat after racking up debts of £1.5m

Former England and Liverpool footballer John Barnes is facing a new bankruptcy threat after reportedly amassing more than 1.5 million in unpaid debts. HM Revenue and Customs (HMRC) lodged a petition at the High Court nearly two months after it was revealed that Barness media company, John Barnes Media Limited, owed almost 800,000 to the tax authority. The 61-year-old, who won two league titles and two FA Cups during his decade at Liverpool, was banned from serving as a company director for three and a half years in 2024 after investigations found his firm had failed to pay more than 78,000 in corporation tax between August 2018 and January 2020. Liquidators reports showed the company owed HMRC 776,878 in unpaid VAT, National Insurance, and PAYE, in addition to 461,849 owed to unsecured creditors, a 226,000 directors loan, and 56,535 in liquidators costs. While a small distribution to HMRC was anticipated, reports said there would be no funds available for unsecured creditors. Mike Smith, chief investigator at the Insolvency Service, said: Individuals and businesses not paying the tax they should deprives the Government of the funding it needs to provide vital public services and investment in areas such as schools, hospitals and roads. John Barnes had a legal duty to ensure his company paid the correct amount of corporation tax and VAT. Instead, it paid no tax whatsoever between November 2018 and October 2020, despite receiving earnings of well over 400,000.  Barness media firm, set up in 2012 after his retirement from professional football, ceased trading in January 2020. The Insolvency Service found the company failed to pay 78,839 in corporation tax and an additional 115,272 in VAT between February 2019 and 2020, despite filing returns indicating what was owed. The former winger, who earned 79 England caps, has faced several bankruptcy petitions since 2010. He narrowly avoided going bust in 2023 after settling a personal tax bill of more than 200,000. That case, along with another petition later that year, was dismissed after debts were repaid. Speaking in 2009 about his finances, Barnes admitted: I dont like dealing with taxes of course. I just hate not having enough money. Apart from that, I dont like dealing with bills and never have done. I let my wife Andrea deal with them. I dont even like opening them. Barnes, who also managed Tranmere Rovers and Jamaica, has so far repaid 60,000 of the directors loan and is paying the remainder in instalments. The latest High Court petition marks yet another chapter in the former football stars long-running financial troubles.The post England legend John Barnes faces fresh bankruptcy threat after racking up debts of 1.5m appeared first on Linda Ikeji Blog.