Gascoigne avoids bankruptcy hearing

Click to follow
The Independent Football

Fallen football hero Paul Gascoigne avoided a bankruptcy hearing in London tomorrow, after settling his differences with the taxman.

His name has been taken out of the list scheduled for hearing at the High Court, after HM Revenue and Customs dropped the case.

The taxman had applied for a bankruptcy petition in November last year when Gascoigne was said to have failed to file tax returns for the past two years.

It was agreed to give him a nine-week breathing space to put his affairs in order over the debt of an estimated £200,000 liability.

His solicitor, Craig Montgomery, said after the first hearing: "There is no suggestion that he doesn't have the funds to meet his tax liabilities. It is just a question of having time to make the returns."

Gascoigne does not have a regular income, he said. It comes from books and appearances, and he has overseas interests.

"It takes time to work out where everything is," said Mr Montgomery.

The 41-year-old former footballer, who has been treated for alcohol and mental health problems, was once one of football's highest paid stars.

At one stage it was reported that he was worth £14m.

He played for England 57 times and scored 10 goals for his country.