JFH named

[Jeems]

If it's legal it is tax avoidance. Technical term for effective tax planning.

It's when it is illegal it is tax evasion.

Who's avoiding tax? If person A's personal circumstance dictates they pay 20% and person B pays 40%, is person A evading tax if he doesn't pay 40% like person B?

Was the David Cameron thing where his mum gifted him X amount of money? Again, perfectly legal and smart tax planning. Why would you want the state to take 40% of your (already taxed) income once you've passed?

Sorry if I've derailed this thread slightly

[nanocopic]

Yeah, but 10% is what Jimmy said.

I'm very dubious about whether there can be anyway that this can be true and at the same time legal.

Probably morally wrong like Jimmy Carr but actually legal.

[Tarbie]

Bang on. I'd even go so far to say that he is sh*tting himself over the DT footage not because of any breaking of FA rules but by virtually indicating that he is tax dodging.

All the more reason for him to do the honorable thing, fall on his sword and take his medicine.

Who the hell does he think he is dragging the club through the mud with him?!!

[Shepherds Mush]

Who's avoiding tax? If person A's personal circumstance dictates they pay 20% and person B pays 40%, is person A evading tax if he doesn't pay 40% like person B?

That has absolutely nothing to do with tax avoidance or tax planning.

[Jeems]

That has absolutely nothing to do with tax avoidance or tax planning.

So if JFH can get his tax bill down to 10% legally, then fair play. Why not?

[James1979]

So if JFH can get his tax bill down to 10% legally, then fair play. Why not?

Agree but I don't see how that is possible if he's uk resident. He would need to declare it and be taxed at best at capital gains tax.

[hal9thou]

Who's avoiding tax? If person A's personal circumstance dictates they pay 20% and person B pays 40%, is person A evading tax if he doesn't pay 40% like person B?

Was the David Cameron thing where his mum gifted him X amount of money? Again, perfectly legal and smart tax planning. Why would you want the state to take 40% of your (already taxed) income once you've passed?

Sorry if I've derailed this thread slightly

There maybe a tax implication but there is no evidence in the clip of anything illegal. There is evidence of a willingness to work for the highest bidder while under contract to QPR which contradicts everything he had said about commitment. If the club had an ounce of integrity he should have been suspended as soon as this came to light. The club know the Telegraph are under no obligation to release anything, they are shamefully banking on the fuss dying down.

[Shepherds Mush]

So if JFH can get his tax bill down to 10% legally, then fair play. Why not?

I would almost categorically say it is impossible in the UK but if he could do it legally then there is nothing wrong.

[Shepherds Mush]

There maybe a tax implication but there is no evidence in the clip of anything illegal.

The tax comment simply implies he wants to pay less tax but knows f*ck all about UK tax on foreign income.

[Jeems]

I would almost categorically say it is impossible in the UK but if he could do it legally then there is nothing wrong.

Until the dividend laws changed recently, a company director could earn around £50k before paying any personal tax

Definitely loopholes somewhere, I remember reading how a lot of foreign players have overseas accounts to reduce their tax liability legally!

[Tarbie]

I would almost categorically say it is impossible in the UK but if he could do it legally then there is nothing wrong.

Only thing that I thought was if Jimmy has a legal entity in the Netherlands he could receive money into the company and drip feed the funds to himself as a dividend at a lower tax threshold at a later date. Would require a hell of a lot of forward thinking though and for him not to be earning a big salary at the time he pays the dividend.

Other than that, categorically impossible to get taxation down to 10% legally in my eyes.

[Shepherds Mush]

Only thing that I thought was if Jimmy has a legal entity in the Netherlands he could receive money into the company and drip feed the funds to himself as a dividend at a lower tax threshold at a later date. Would require a hell of a lot of forward thinking though and for him not to be earning a big salary at the time he pays the dividend.

Would have to pay himself under £5k a year in dividends for it to not be liable to UK income tax (after accounting for his other income).

[Shepherds Mush]

Until the dividend laws changed recently, a company director could earn around £50k before paying any personal tax

With all due respect, that is absolute b*llocks.

[James1979]

Only thing that I thought was if Jimmy has a legal entity in the Netherlands he could receive money into the company and drip feed the funds to himself as a dividend at a lower tax threshold at a later date. Would require a hell of a lot of forward thinking though and for him not to be earning a big salary at the time he pays the dividend.

Other than that, categorically impossible to get taxation down to 10% legally in my eyes.

Not if he's uk tax resident. Dividends are 32% I think.

[Jeems]

With all due respect, that is absolute b*llocks.

Roughly 8k annual salary
Dividend at 31,785 (company has already paid corporation tax)
Expenses 10k give or take