Stephen Hendry's company has been liquidated for failing to pay a £85,000 tax bill.- Hendry company wound up
Her Majesty's Revenue and Customs closed down Stephen Hendry Snooker Ltd after issuing a liquidation order last month, according to the Daily Record.
The company, which has Hendry as the sole owner and director, was set up to handle the seven-times world champion's prize and sponsorship money when he turned professional aged 16.
He has said that the wage provided from it took away the pressure of having to win tournaments when he was young.
Papers lodged at Glasgow Sheriff Court show the business paid only £7,953 of the £20,096 corporation tax it should have paid on £98,029 profit in 2008.
In 2009, it paid not tax whatsoever on £252,575 of earnings when £49,412 was due.
Hendry's firm also owes £23,502 tax on undisclosed sums taken out of the company over that the two years in "loans or advances".
In total it owes £85,015, plus interest and penalties of around £3,600.
A spokesman for Revenue and Customs said: "If we get to the stage where people renege on time to pay, the only course of action open to us is to wind them up.
"Otherwise, the debts just pile up. We have to be fair to people who are paying their tax."
Source and more details... EuroSport