I think Harry's sharper than Storrie. Storrie's probably had to do dodgy stuff for owners before, but this time international money flows of an oleganous oligarch was probably beyond his brains. Redknapp had the brains to place his questions on the record to his accountant, and I believe his accountant investigated the whys and wherefores. If I remember correctly all the time the matter was being investigated by his accountant he held the money in an account without touching it. When OK'ed he transferred it from his off-shore account. Doubt if anything he did will be found to be incorrect. I think ol'Harry had more of a clue than Storrie about how dodgy it potentially was, and if anything is subsequently found he'll pay up to inland revenue asap.
Importantly, Storrie didn't personally gain financially from this. This must be remembered in any event. The fact that HMRC are hanging their hat on the point that it was Pompey (not Storrie) that failed to fully declare the sum paid to Faye's overseas account thus depriving the Inland Revenue benefiting an actual small nett amount of "x" is farcical. Storrie, as an officer of the company being instrumental/complicit in this any good tax/corporate Barrister will argue this to an extent that no jury will be able to convict "beyond reasonable doubt". It's a complete waste of taxpayer's money taking it to court!! It's nothing more than grabbing at straws by this "investigation" trying to justify itself in it's death throes. The legal fees will be far more than the supposed loss to the public purse and if as likely Storrie is found Not Guilty and is awarded his legal costs against HMRC then that is what is even more outrageous. Even in the event of an unlikely conviction, the nett sum involved plus the fact that Storrie did not gain personally etc., the whole excercise is nothing other than a very expensive publicity stunt by HMRC. If as Colin Tat alludes that Storrie isn't the sharpest when handling these "transactions" compared to 'Arry Redknapp I'd be very surprised. I'd guess that most overseas signings he's handled have had money transferred to their overseas accounts as much as the English players have money sent to offshore accounts via every which way possible.
[cite]Posted By: SoWhat[/cite]I'd guess that most overseas signings he's handled have had money transferred to their overseas accounts as much as the English players have money sent to offshore accounts
via every which way possible.
Which is why IMHO HMR&C are chasing this.
They know it happens and most likely at more clubs than Pompey. In chasing down this one case they may open a Pandora's box of other cases or at least warn other clubs to stop thinking they can dodge tax like this.
This is a test case.
I also suspect that they think if they can get to Storrie then they can get to Willie McFaul, Faye's agent.
Comments
EDIT: Yes he was
http://en.wikipedia.org/wiki/Peter_Storrie
http://www.timesonline.co.uk/tol/sport/football/premier_league/portsmouth/article6902958.ece
The fact that HMRC are hanging their hat on the point that it was Pompey (not Storrie) that failed to fully declare the sum paid to Faye's overseas account thus depriving the Inland Revenue benefiting an actual small nett amount of "x" is farcical. Storrie, as an officer of the company being instrumental/complicit in this any good tax/corporate Barrister will argue this to an extent that no jury will be able to convict "beyond reasonable doubt". It's a complete waste of taxpayer's money taking it to court!! It's nothing more than grabbing at straws by this "investigation" trying to justify itself in it's death throes.
The legal fees will be far more than the supposed loss to the public purse and if as likely Storrie is found Not Guilty and is awarded his legal costs against HMRC then that is what is even more outrageous.
Even in the event of an unlikely conviction, the nett sum involved plus the fact that Storrie did not gain personally etc., the whole excercise is nothing other than a very expensive publicity stunt by HMRC.
If as Colin Tat alludes that Storrie isn't the sharpest when handling these "transactions" compared to 'Arry Redknapp I'd be very surprised. I'd guess that most overseas signings he's handled have had money transferred to their overseas accounts as much as the English players have money sent to offshore accounts
via every which way possible.
Which is why IMHO HMR&C are chasing this.
They know it happens and most likely at more clubs than Pompey. In chasing down this one case they may open a Pandora's box of other cases or at least warn other clubs to stop thinking they can dodge tax like this.
This is a test case.
I also suspect that they think if they can get to Storrie then they can get to Willie McFaul, Faye's agent.