A former EY managing partner and head of tax in the UK has lost a case at the High Court as declarations of trust related to properties, earnings and loan agreements were ‘sham’, designed to move money into wife’s control out of reach of bankruptcy trustees
The case at the High Court bankruptcy division centred around six declarations of trust, effectively set up to move John Dixon’s income to his wife’s bank accounts, which happened shortly before he was forced into bankruptcy following a six-figure HMRC tax demand.
A winding up petition from HMRC in 2017 had ultimately led to Dixon’s bankruptcy and two joint trustees in bankruptcy, Emma Sayers and Jeremy Willmont, were appointed in August 2018.
John Dixon was the managing partner UK & Ireland and UK head of tax for Big Four firm EY until 2014, having joined the Big Four firm in 1997. According to the court documents, he was earning approximately £2m a year at EY, until he left ‘by mutual agreement’ in September 2018, two years before the usual EY retirement date of 60 for partners.
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