Gary Lineker, the former England footballer turned broadcaster, has strategically placed his television production company, Goalhanger Films, into voluntary liquidation ahead of upcoming capital gains tax increases.
The company, jointly owned by former ITV controller Tony Pastor, reported net assets of more than £440,000 in its latest published accounts.
The decision comes as the UK Government announced in the latest Budget that capital gains tax rates will rise from 10% to 14% from April, with a further rise to 18% in 2025. By liquidating the company now, Lineker and Pasteur can Take advantage of the current low tax rate on distributions from company assets.
Tony Pastor has confirmed that Goalhanger Films has been “frozen”, allowing the duo to focus on their fast-growing venture, Goalhanger Podcasts. The podcast platform hosts popular series such as The Rest Is History and The Rest Is Football, and reported net assets of close to £591,000 earlier this year.
Lineker’s move is consistent with the practice of Members’ Voluntary Liquidation (MVL), a process that enables solvent companies to wind down operations in a tax-efficient manner. MVL allows business owners with significant retained earnings to treat distributed funds as capital gains rather than income, which can result in significant tax savings under the business asset disposition relief framework.
Originally launched in 2014, Goalhanger Films has produced high-profile sports documentaries featuring stars such as Mohamed Salah and Serena Williams. However, the shift towards a more successful podcast division reflects Lineker’s adaptation to changing market dynamics.
Despite stepping down from hosting Match of the Day after 26 years, Lineker remains a prominent figure at the BBC, with contracts to present coverage of the FA Cup and the 2026 World Cup.
Lessons for business owners
Lineker’s financial move offers insights for entrepreneurs and company managers:
Act early
: Anticipating tax changes and making timely decisions can increase financial benefits.
Consider MVL: For solvent companies that plan to close, MVL can be an effective tool to efficiently unlock value.
Adapt to growth: Shifting focus to more successful projects ensures that resources are allocated to areas with the greatest potential.
Comments are closed, but trackbacks and pingbacks are open.