Some of the biggest names in British football face combined losses of up to £1 billion and financial ruin following the HMRC declaring investment vehicles illegal.
Many footballers rushed into these schemes as an 'enlightened' method of tax avoidance.
One agent frequently mentioned on our blogs was quoted in The Guardian as saying he
believed there had been a culture of seeking to minimise tax bills. He
said that although the players earned salaries way beyond the realities
of ordinary people, the consequent size of the tax bills leads richer
people to resent paying tax more than the less well paid.
individuals, who in the main, are multi multi-millionaires allowed their
greed to get the better of them as they rushed into 'profiting' from
Kingsbridge Asset Management and Ingenious (sic) Films and Games - a
pair Ponzis if ever they existed - schemes set up to enrich senior
hierarchical figures at the expense of the gullible.
The investments were made in film, games and property.
You might notice that many of these names have been frequently mentioned on the pages of our family of blogs.
Gary Lineker (BBC and BT Sports)
Danny Murphy (BBC)
David James (BT Sports)
Martin Keown (BBC and BT Sports)
Robbie Savage (BBC and BT Sports)
Rio Ferdinand (BT Sports)
Danny Murphy, who owes £2.5 million on one of these schemes, is said to have "felt angry" over the alleged mis-selling of tax avoidance products.
One has to wonder why our BBC license tax is used to reward those engaged in tax avoidance.
an entirely separate level, it is found generally in football that
financially distressed clubs and players are the ones that are
approached by global matchfixing operations as these entities chase
their losses via the underground markets...
... or such clubs and players collaborate with other distressed entities to mutual financial benefit.
We can only be grateful that the individuals above do not fall into this category.
Pay your taxes.
1 million Britons depend on foodbanks to survive while you shower of
rich bastards try and avoid paying a fair share of your colossal net
After Redknapp and Rosie the dog, and Rangers and Regan, football appears to continue to have taxing matters.
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