SA F1 champ Jody Scheckter TAX trouble could bankrupt him

South Africa’s 1979 F1 world champion Jody Scheckter has been ordered to pay nearly £1.5-million to Britain’s HMRC. The issue relates to long-running backdated taxes claimed against his former Laverstoke Park organic farming business in Hampshire.

Now, Britain’s First-tier Tribunal (Tax Chamber) has dismissed an appeal by Jody Scheckter. It ruled that the farming operation did not meet conditions required for tax relief. The former F1 champ told The Telegraph that he intends to keep fighting the ruling. He believes the rules were wrongly applied to his farm in this instance.

JODY SCHECKTER TAX TROUBLE

As such, Britain’s HMRC is upholding a bill of £1.45 million issued back in 2019. This is after the revenue service decided that losses from his buffalo-farming partnership couldn’t be offset against other income. However, Jody Scheckter can still ask for permission to appeal to the Upper Tribunal, but only on a specific point of law. The F1 champ’s buffalo farming and dairy businesses closed on 31 December 2023. The company blames ‘unprecedented cost increases in energy’ as the reason.

Furthermore, the estate has been on the market for £58 million since May 2025. And it is reportedly still being advertised, as of September 2026. Plus, it’s also emerged that Jody Scheckter was seriously unwell during the tribunal itself. He was reportedly taking morphine for pain following an infection. “Some of the questions, I didn’t even hear them,” said the 76-year old, who won his title with Ferrari in 1979.

A REAL DISASTER FOR ME

And Jody Scheckter says the financial consequences could be severe if he cannot overturn the decision. “I hope I don’t have to go bankrupt. It would hurt a lot. A real disaster for me,” concluded the South African. Back in 2024, the former F1 driver auctioned off many of his finest racing cars, including a number of championship Tyrells and Ferraris. – with GMM

But what do you think? Do you think the former champ will be able to appeal the HMRC’s ruling? Please share your thoughts in the comments section below …