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 rises.
Co-owned with former ITV controller Tony Pastor, the company reported net assets exceeding £440,000 in its last published accounts.
The decision comes as the UK government announced in the recent Budget that capital gains tax rates will increase from 10% to 14% starting in April, with a further rise to 18% in 2025. By liquidating the company now, Lineker and Pastor can benefit from the current lower tax rate on distributions from the company’s assets.
Tony Pastor confirmed that Goalhanger Films is being “mothballed,” allowing the duo to focus on their rapidly 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 close to £591,000 earlier this year.
Lineker’s move aligns with the practice of Members’ Voluntary Liquidation (MVL), a process that enables solvent companies to wind up operations in a tax-efficient manner. An MVL allows business owners with significant retained earnings to treat distributed funds as capital gains rather than income, potentially resulting in substantial tax savings under the Business Asset Disposal Relief framework.
Originally launched in 2014, Goalhanger Films produced high-profile sports documentaries featuring stars like Mohamed Salah and Serena Williams. However, the shift towards the more successful podcast division reflects Lineker’s adaptation to changing market dynamics.
Despite stepping down from hosting Match of the Day after a 26-year tenure, 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 directors:
Act Early: Anticipating tax changes and making timely decisions can maximize financial benefits.
Consider MVL: For solvent businesses planning to close, an MVL can be an effective tool to unlock value efficiently.
Adapt to Growth: Shifting focus to more successful ventures ensures resources are allocated to areas with the greatest potential.
Read more:
Gary Lineker liquidates Goalhanger Films ahead of capital gains tax increase