Revealed: Hamilton’s £16.5m UK home owned via offshore company

The Mercedes F1 driver was among a host of famous faces to declare themselves as the beneficial owners of overseas companies that own property in the UK, the report states - and Hamilton says that it does "not give him any UK tax advantage or other financial benefit".

The revelations are part of a government transparency scheme designed to ensure HMRC collect the correct amount of tax.

Owning a property in the UK via an overseas company is legal, and everyone connected with this new register has complied with their legal responsibilities.

Hamilton owns three companies registered in the British Virgin Islands, with addresses in Guernsey. The report states that these companies’ structures are to protect Hamilton’s privacy.

A mansion in Kensington, London, which reportedly cost Hamilton £16.5m is registered to one of these companies. Two other properties are registered to the other two companies.

Hamilton’s spokesperson told The Guardian: “The ownership of Lewis Hamilton’s UK properties via the companies listed on the register of overseas entities does not give him any UK tax advantage or other financial benefit. Lewis is supportive of the new register, demonstrated by his inclusion of the UK properties and associated companies, along with his beneficial ownership on the register.”

John Lennon’s childhood home and Uri Geller’s current house were also named on the same register.

“You shouldn’t be able to have billions”

Hamilton recently told the On Purpose with Jay Shetty podcast: “One of the things I struggle with every day is, and it’s just how life is and it’s been the way for thousands of years, is there is such a disparity between the wealthy and the poor,” he said. 

“When you drive around L.A., there’s still so many people living on the streets. 

“You shouldn’t be able to have billions. There should be a limit to how much you can have. Because there’s enough to go around to everyone. So somehow creating a law that creates more equality and equal access for everyone. I don’t know how you would implement that law.”

Lewis Hamilton’s net worth increased by £40m since 2021 despite the worst F1 season of his career.

He is Britain’s richest active sportsperson but was also named as Britain’s fifth-most generous person, after giving £20m to charity inside a 12-month period.

The seven-time world champion has been at No1 in the list of F1 driver salaries for some time, and that is expected to continue when he pens a new Mercedes deal that will take him into 2024 and beyond.