Simon Gregson, the actor famous for his role as Steve McDonald on the ITV soap opera Coronation Street, is making a tough decision to settle a substantial tax bill. Due to the closure of his business, Simon Gregson Productions Ltd, he is facing financial challenges, with debts totaling £252,000. Liquidators handling the company’s winding-up process have determined that selling assets, including his 2005 black Ford Fiesta, is necessary to repay the outstanding amounts.

Following the closure of his company, Simon transferred £252,000 to a separate account and was instructed to make monthly payments of £1,500 to cover the debt. The liquidators reported that Simon had repaid £18,000 in the past year, but the remaining balance still required attention. Despite efforts to manage the situation, costs associated with the business liquidation have amounted to around £51,000, with some expenses capped at £44,000.

In addition to selling his car, Simon is supplementing his income by offering tours of the Coronation Street set to fans, where participating cast members can earn approximately £500 per tour. The ongoing financial challenges have led to scrutiny from authorities, with a confidential report submitted to the Department for Business, Energy & Industrial Strategy detailing the financial affairs of Simon Gregson Productions Ltd.

The Mirror has reached out to Simon’s agent for comment on the current situation.