Liverpool and Scotland Icon Gary McAllister Facing Bankruptcy

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Liverpool and Scotland icon facing bankruptcy as statement made amid fears of 'financial ruin'.

In worrying news, former Liverpool and Scotland icon Gary McAllister could be facing financial ruin. The ex-footballer was recently hit with a bankruptcy petition by HM Revenue and Customs.

McAllister started out his career at Motherwell, before spending spells in England with Leicester City, Leeds United (where he won the league in 1992) and Coventry City. This led him to Anfield in 2000, where he would win the FA Cup, League Cup, UEFA Cup and UEFA Super Cup.

He also captained Scotland at Euro 1996 in England, and picked up a total of 57 international caps for his country. He later worked as a coach in retirement, notably taking charge of Leeds United in 2008 and even returned to Liverpool briefly as an assistant for Brendan Rodgers.

As per The Telegraph, McAllister is 'facing the threat of financial ruin' after HMRC took him to court over an unpaid tax bill. The report notes that the exact amount owed and the reasons behind it are not yet known.

McAllister is among a number of footballers who years ago invested in film partnerships that were later ruled by HMRC to be tax-avoidance schemes. Such schemes inflated the amount of relief an individual might otherwise receive, including by propping up relatively modest investments with enormous loans.

That said, there is no suggestion that the 61-year-old has ever sought to deliberately dodge his tax obligations. A statement on the matter has now been given, with a spokesman for McAllister telling the Telegraph:

> "Gary McAllister was under the impression his tax advisor was in contact with HMRC regarding this. Gary is now looking to resolve the issue imminently.”

Amid the news, HMRC are unable to comment on individuals because of taxpayer confidentiality law. However, a spokesperson added: “We take a supportive approach to dealing with customers who have tax debts and do everything we can to help those who engage with us to get out of debt, such as offering instalment plans. We only petition for bankruptcy as a last resort.”

The 48-cap former Scotland international is the latest in many retired footballers falling foul of financial difficulty.

McAllister isn't the only former Liverpool man to face troubling financial questions in recent times. In August, HMRC filed a petition at the High Court in London seeking to have Jamie Carragher declared bankrupt over an unpaid tax bill.

In response, a spokesperson on behalf of the former footballer turned pundit said : "This is a private tax matter that should have been resolved sooner, and the appropriate steps are being taken today to settle it. It is understood that the matter will not proceed any further, and will be resolved imminently.”

Carragher later joked about his financial issues while covering the Champions League for CBS Sports. John Barnes, Emile Heskey, and Jermaine Pennant are among other former Anfield stars to have faced similar money troubles in retirement.

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