Can you imagine one of the highest-paid Coronation Street getting hit with bankruptcy? Well, that’s exactly the case with Corrie’s Ken Barlow actor Bill Roache as he battles bankruptcy following a petition filed by HMRC. Bill has been the longest-running and highest-paid actor on Coronation Street since 1960. At the age of 91, the veteran actor finds himself in the middle of a legal storm. However, the soap star still remains determined to continue playing Ken. This shows his determination and love towards the cobbles. Do you want to know more about it? Keep scrolling!
Coronation Street Star Bill Roache Struggles with Legal Trouble
Bill Roache, popularly known for his portrayal of Ken Barlow, is one of the longest-running cast in Coronation Street. Also, let me tell you the 91-year-old actor is the highest-paid actor, too, earning £250,000 annually. However, the actor had gone bankrupt after HMRC filed a petition against him. The HMRC declared a common statement that it believes in a supportive approach while dealing with customers who have tax debts and even offers installment plans to get them out of it. It added, “We only petition for bankruptcy as a last resort.”
A Coronation Street spokesperson said, “We’re really sorry to hear of Bill’s financial situation.” The soap assured that Bill has an ongoing contract with Coronation Street, and he still remains a much-loved member of the cast. According to reports, in the year 2018, the actor invested in Twofold First Services LLP, a £ 500 million Cayman Islands tax avoidance scheme, along with 288 investors and ended up receiving a huge bill. However, the exact amount is not known yet, all the investors invested, on average, £1.75million.
Amid The Tough Times, Roach Still Continues To Play Ken Barlow
The Coronation Street star signed in for the scheme in March 2012. It was a complicated arrangement that basically claimed that the investors could reduce their income tax by using artificial loss of a land-owning business. However, a tribunal later labeled the scheme as “a tax avoidance arrangement” and “abusive and artificial.” The judgment was in favor of HMRC, and it declared that the bankruptcy petition was the ‘last resort.’
An HMRC spokesperson explained, “When we file a petition for bankruptcy, we might have an outstanding tax debt, and if someone refuses to engage with us and pay the tax that is due, we will issue a bankruptcy action. They added, “ This is how we go about that in terms of the correct legal process. That is in order to recover the tax that they owe, but as I say, it is the sort of thing we do as a last resort.” Also, the Coronation Street actor actually went bankrupt after suing a newspaper for titling him as ‘boring.’
Eventually, Britain’s best-loved TV star took legal action against his own law firm for negligence, but it was too late. He was already declared bankrupt in 1999. The Coronation Street actor has been a part of the soap since its first broadcast and still continues to play his character, Ken Barlow. Roach was even awarded with big awards like OBE and MBE.
Last year, the actor stated, “Coronation Street has given me so much in life, and I absolutely love the program.” With the soap expressing support and Roache’s ongoing contract, his financial struggles remain a topic of speculation. For more Coronation Street updates, keep checking the TV Season & Spoilers!