TV chat show queen Lorraine Kelly's business empire soars to make £4m

2023-06-26

TV chat show queen Lorraine Kelly sitting pretty as value of business empire soars to make £4m fortune

ITV’s Lorraine Kelly’s firm Albatel made a profit of more than £500,000 last year
And the company had a net worth of £3,986,886, up by £200,000 from last year

With her cheery smile and relaxed charm, she has become one of Britain’s best-loved TV presenters.

And now Lorraine Kelly’s enduring popularity has seen the value of her business empire soar to almost £4million.

The ITV presenter’s firm Albatel made a profit of more than £500,000 last year, while the latest annual accounts show it had total assets of £4,246,037.

That included £2,797,212 held in a bank account, more than £1million owed by debtors and an investment portfolio worth more than £400,000.

After paying off creditors, the company had a net worth of £3,986,886 – up by more than £200,000 on the previous year.

Lorraine Kelly’s enduring popularity has seen the value of her business empire soar to almost £4million

In 2019 Lorraine, 63, overturned a £1.2million tax bill after a court ruled that she was self employed while working for ITV.

HMRC had hit her with the bill in 2016 after claiming that she was effectively employed by the broadcaster despite having been paid through Albatel, thereby avoiding PAYE deductions.

The tax tribunal ruled that Lorraine had created her own ‘persona’ and ‘brand’ during a freelance career since 1992.

Ms Kelly also told the first tier tribunal that she was ‘baffled’ by HMRC’s refusal to accept she is an ‘entertainer’ and not a current affairs presenter.

Describing herself as a ‘theatrical artist’, she told the tax tribunal that she ‘acted every day as a version of herself’.

The dispute revealed ITV paid Albatel more than £3.1million between 2012 and 2015. The Glasgow-born star and her husband set up the firm in 1992 shortly after they were married.

The annual accounts cover the period up to December 31, 2022. They show that the company paid more than £100,000 in corporation tax last year.

Lorraine, who presents her self-titled morning chat show on ITV, has also published books on dieting and fitness.

Ms Kelly joined TV-am as Scotland correspondent in 1984, covering major stories such as Lockerbie and Piper Alpha. She became a main presenter on GMTV before landing her own show.

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