New England manager faces tax probe

Date: 16th January 2008

The legal problems of two high-profile figures have highlighted the importance of clear tax accounting for both individuals and small businesses this week.

Firstly, the financial affairs of new England football manager Fabio Capello have come under scrutiny, with prosecutors in Turin said to be investigating the 61-year-old Italian for tax evasion.

Despite these allegations coming to light just days after Capello began his job as Steve McClaren's successor, the FA has insisted that it is not worried by the investigation.

"It is our understanding that the Italian tax authorities are currently following a procedure of looking into the finances of a number of high-profile individuals … Fabio Capello's tax payments are in order," a spokesperson said.

Meanwhile, Hollywood actor Wesley Snipes is currently on trial in the US for alleged tax offences, with prosecutors claiming that he fraudulently claimed refunds on income tax payments and failed to file tax returns between 1999 and 2004.

The Demolition Man star recently dismissed both of the lawyers hired in his defence, claiming that they had given him ineffective counsel, Accountancy Age reports.