Sounds like a good way to avoid paying tax. Seems that some jockeys (e.g. Lester Piggott) have an aversion to paying tax. Perhaps Franco should stay in the USA
He made large “tax deductible” payments to a trust for 5 years (2012/17). The trust then paid him back large “non-taxable” payments back to him. There was no trade purpose at all, pure tax avoidance.
Seems that he was using a “scheme” devised by Paul Baxendale-Walker, a bankrupt, struck-off solicitor and “porn movie director, with a past fraud conviction. This is the same fella who devised the “Employee Benefit Trust” scheme that Rangers got into trouble for using.
He made large “tax deductible” payments to a trust for 5 years (2012/17). The trust then paid him back large “non-taxable” payments back to him. There was no trade purpose at all, pure tax avoidance.
Seems that he was using a “scheme” devised by Paul Baxendale-Walker, a bankrupt, struck-off solicitor and “porn movie director, with a past fraud conviction. This is the same fella who devised the “Employee Benefit Trust” scheme that Rangers got into trouble for using.
Porn director? Perhaps this is where Frankie learnt the flying dismount.
He made large “tax deductible” payments to a trust for 5 years (2012/17). The trust then paid him back large “non-taxable” payments back to him. There was no trade purpose at all, pure tax avoidance.
Seems that he was using a “scheme” devised by Paul Baxendale-Walker, a bankrupt, struck-off solicitor and “porn movie director, with a past fraud conviction. This is the same fella who devised the “Employee Benefit Trust” scheme that Rangers got into trouble for using.
Porn director? Perhaps this is where Frankie learnt the flying dismount.
He made large “tax deductible” payments to a trust for 5 years (2012/17). The trust then paid him back large “non-taxable” payments back to him. There was no trade purpose at all, pure tax avoidance.
Seems that he was using a “scheme” devised by Paul Baxendale-Walker, a bankrupt, struck-off solicitor and “porn movie director, with a past fraud conviction. This is the same fella who devised the “Employee Benefit Trust” scheme that Rangers got into trouble for using.
Reminds me of the arrogance of Lester Piggott who, after an investigation from HMRC, was found guilty of failing to disclose £1.36m of riding income and another £1.0m from bloodstock operations. His fortune at the time was estimated to be worth roughly £20m. The Revenue informed him that, providing he had finally told the truth and disclosed all his assets and income all that would happen at that point is that he would have to pay all outstanding taxes plus interest and a fine. So he gave them a cheque to cover all of that from an account that he hadn't declared. He did not have to pass go on his way to jail.
Piggott’s conviction and jail term prompted a rush of tax disclosures from the racing industry, with a procession of jockeys revealing undeclared income. It seems that Dettori never received the message that earning a shedload of money does not entitle you to avoid paying your dues.
Once tried to talk to lester and willie Carson at Newbury races with my two kids who were about 5 or 6 when they were on the way to the parade ring. They both ignored us.
Alan Munro saw what happened and held both my kids hands till he got to the parade ring. He gestured to me they wee not nice people.
Munro is a top guy in my view and proved it doesnt take much.
Once tried to talk to lester and willie Carson at Newbury races with my two kids who were about 5 or 6 when they were on the way to the parade ring. They both ignored us.
Alan Munro saw what happened and held both my kids hands till he got to the parade ring. He gestured to me they wee not nice people.
Munro is a top guy in my view and proved it doesnt take much.
Small Bloke Syndrome.
A lot of small blokes seem to feel the need to compensate for their lack of height by being complete ****s. In the world of Jockeys I would imagine the **** ratio is off the charts!
Reminds me of the arrogance of Lester Piggott who, after an investigation from HMRC, was found guilty of failing to disclose £1.36m of riding income and another £1.0m from bloodstock operations. His fortune at the time was estimated to be worth roughly £20m. The Revenue informed him that, providing he had finally told the truth and disclosed all his assets and income all that would happen at that point is that he would have to pay all outstanding taxes plus interest and a fine. So he gave them a cheque to cover all of that from an account that he hadn't declared. He did not have to pass go on his way to jail.
Piggott’s conviction and jail term prompted a rush of tax disclosures from the racing industry, with a procession of jockeys revealing undeclared income. It seems that Dettori never received the message that earning a shedload of money does not entitle you to avoid paying your dues.
Dettori has already had many run-ins with the taxman, trust me.
Bloke just doesn't like paying his way. And then doesn't pay his bills.
Someone i know used to do work for him on a professional basis and used to refer to him as "the Little Shit". Absolute wrong un.
Comments
https://www.churchilltaxation.co.uk/frankie-dettori-loses-bid-for-anonymity-in-tax-dispute/
Assume it's all related.
I would also assume he's not filing for bankruptcy in the US as well....
Frankie Dettori bankruptcy: Veteran jockey 'embarrassed' after filing for bankruptcy - BBC Sport
Provides background - though I really don't feel sorry for him.
Such as punching horses, treating stable boys like shit, and clicking his fingers when he needs attention. And worse than that.
Rich people not paying their share. Who'd 'a thought it?
Piggott’s conviction and jail term prompted a rush of tax disclosures from the racing industry, with a procession of jockeys revealing undeclared income. It seems that Dettori never received the message that earning a shedload of money does not entitle you to avoid paying your dues.
Alan Munro saw what happened and held both my kids hands till he got to the parade ring. He gestured to me they wee not nice people.
Munro is a top guy in my view and proved it doesnt take much.
A lot of small blokes seem to feel the need to compensate for their lack of height by being complete ****s. In the world of Jockeys I would imagine the **** ratio is off the charts!
Bloke just doesn't like paying his way. And then doesn't pay his bills.
Someone i know used to do work for him on a professional basis and used to refer to him as "the Little Shit". Absolute wrong un.