How much is Bill Roache worth? Coronation Street legend faces bankruptcy a second time as he is petitioned over tax arrears

Coronation Street star Bill Roache faces bankruptcy for the second time after news broke that His Majesty's Revenue & Customs (HMRC) filed a petition against him over tax arrears on January 23, 2024.

This is the second time the legendary soap opera actor is dealing with bankruptcy after a libel run-in with The Sun left him with an unpaid debt of £600,000 in 1999. Papers were lodged against Roache, aged 91, at London's High Court on Tuesday.

According to The Sun, he was listed by his full name "William Patrick Roache" as the "debtor" with the HMRC as "the petitioner." He was also declared as a "litigant in person" meaning he will conduct his own defence.

According to Celebrity Net Worth, Roache has an estimated net worth of $5 million amassed during his six-decade run at Coronation Street.

Starring as Ken Barlow in the hit ITV soap opera, the star is dubbed the "world's longest-running soap actor" and reportedly renewed his contract for another year in December 2023.

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Bill Roache's financial woes

Bill Roache's financial woes came after it was reported that he faced a huge bill after investing in a company named Twofold First Services LLP in March 2012. He was projected as one of 288 investors who entered the scheme and put in £1.75 million on average.

As per The Sun, the company ran a £500 million Cayman Islands tax avoidance scheme, which involved claiming tax relief from the artificial losses of a land-owning business, meaning investors could use the paper loss to reduce their income tax.

In 2018, HRMC won in a tribunal, stating that Twofold was "a tax avoidance arrangement" and was "abusive and artificial."

Bill Roache faces bankruptcy at the age of 91.

On January 25, an HRMC spokesperson said that filing a bankruptcy petition against Bill Roache was a "last resort." According to the Mirror, they said:

"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. We only petition for bankruptcy as a last resort."

According to The Sun, a spokesperson for Coronation Street released a statement on Thursday that Roache was a "much-loved member of the cast."

"We're really sorry to hear of Bill's financial situation. Bill has an ongoing contract with Coronation Street and remains a much-loved member of the cast," they said.

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Bill Roache was declared bankrupt in 1999 following a libel case against The Sun

According to The Daily Mail, Bill Roache filed a libel action lawsuit against The Sun after the tabloid labeled him as "boring Ken Barlow" in 1991. While he won the lawsuit, he was awarded only £50,000 in damages, the same amount offered to him in an out-of-court settlement.

That left him liable for £120,000 in costs, compounded by his lawsuit against his lawyers for negligence, resulting in him going bankrupt with an unpaid debt of £600,000 in 1999.

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A staple in Coronation Street since the first episode aired in 1960, Bill Roache is the highest-paid member of the cast, earning around £250,000 a year. According to the Mirror, the actor hopes to stay on the show till he turns 100.

In 2022, he was awarded an OBE by King Charles for his services to drama and charity.