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First of the big name film scheme backers has been made bankrupt

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    First of the big name film scheme backers has been made bankrupt

    And its former footballer Dean Windass Ex-Premier League footballer Dean Windass made bankrupt - BBC News

    You need to read this story to find out what the cause is Dean Windass on his tax nightmare: 'People are looking at me like I have tourettes' - Gazette Live

    Only mentioned here to show that HMRC aren't playing nice here...
    merely at clientco for the entertainment

    #2
    Originally posted by eek View Post
    And its former footballer Dean Windass Ex-Premier League footballer Dean Windass made bankrupt - BBC News

    You need to read this story to find out what the cause is Dean Windass on his tax nightmare: 'People are looking at me like I have tourettes' - Gazette Live

    Only mentioned here to show that HMRC aren't playing nice here...
    Sounds like they hounded him until his wife left him, he was depressed and suicidal (and penniless) and then bankrupted him.

    And then I read their latest missive "Insolvency..is not expected to have a material impact on family formation, stability or breakdown.." so it must have been something else. It's not like HMRC would be untruthful about these sort of things.

    After Brexit, I feel comforted that they act in a commercial way, especially with all these trade deals to negotiate.

    As they didn't get the cash in this case, I suppose they can make up for it by gloating and feeling all-powerful in their castle, waiting for all those lovely contractors to fall down before them.

    I wonder if they have a large picture of King Pyrrhus of Epirus on the wall?
    Join Big Group - don't let them get away with it
    http://www.wttbiggroup.co.uk/

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      #3
      Originally posted by eek View Post
      And its former footballer Dean Windass Ex-Premier League footballer Dean Windass made bankrupt - BBC News

      You need to read this story to find out what the cause is Dean Windass on his tax nightmare: 'People are looking at me like I have tourettes' - Gazette Live

      Only mentioned here to show that HMRC aren't playing nice here...
      Sorry, but his story just doesn't add up. He said he "never received a penny from his investments", so how come he has a tax bill.

      That's the whole point of the scheme - they don't make money, but allow you to claim tax relief many times your "investment"

      You are not forced to claim any tax relief - he must have done so to have ended up with a tax bill.

      Now I will accept the chance he might have been bamboozled into it by a fancy accountant at the time.

      But the fact that he still appears not to understand it - sorry - just doesn't compute.

      Comment


        #4
        Footballers aren't the brightest...
        "You’re just a bad memory who doesn’t know when to go away" JR

        Comment


          #5
          It's almost like they are writing about two completely different people in those stories. The BBC one goes on about Hull all the time and doesn't mention his tax problems but the other talks about Boro all the time and goes in to detail. Very strange reporting.
          'CUK forum personality of 2011 - Winner - Yes really!!!!

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            #6
            Originally posted by centurian View Post
            Sorry, but his story just doesn't add up. He said he "never received a penny from his investments", so how come he has a tax bill.

            That's the whole point of the scheme - they don't make money, but allow you to claim tax relief many times your "investment"

            You are not forced to claim any tax relief - he must have done so to have ended up with a tax bill.

            Now I will accept the chance he might have been bamboozled into it by a fancy accountant at the time.

            But the fact that he still appears not to understand it - sorry - just doesn't compute.
            It seems to work around tax relief he had from the invested money. But it's a tax scam so they wan't the tax relief back?

            https://www.theguardian.com/uk-news/...-film-tax-scam

            This apparently allowed wealthy investors to falsely claim around £40,000 tax relief for every £20,000 invested.
            And here

            https://www.ft.com/content/50938cc0-...8-91555f2f4fde

            More than 275 investors deposited more than £76m into the scheme in the belief that they were helping the British film industry, while legitimately reducing their tax bill, HMRC said. Investors were promised for every £100,000 invested, higher rate taxpayers would receive £130,000 in tax repayments from HMRC.

            The men claimed to have spent more than £250m on pre-production and development packages for film projects created in Monaco. But an investigation by HMRC found that the packages had cost only £4m and had been created in Little Wing’s offices in London.

            Overall, the gang falsely inflated expenses to more than £275m to increase the scheme’s financial losses, which enabled investors to collectively claim about £100m in tax repayments. HMRC said it would now begin to recover these repayments from the investors.
            'CUK forum personality of 2011 - Winner - Yes really!!!!

            Comment


              #7
              Originally posted by northernladuk View Post
              It's almost like they are writing about two completely different people in those stories. The BBC one goes on about Hull all the time and doesn't mention his tax problems but the other talks about Boro all the time and goes in to detail. Very strange reporting.
              The former is because it's a hull based writer focusing on the story from a hull perspective, the latter from boro where he still lives

              The reason I posted this was to show that HMRC isn't play nice here and are happy to bankrupt people.... And the time frame is also important we are talking about them chasing money for 16 years...
              Last edited by eek; 13 December 2016, 08:14.
              merely at clientco for the entertainment

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                #8
                Makes sense for HMRC to bankrupt celebrities because it gets a lot of free coverage as a warning to others.

                Comment


                  #9
                  Originally posted by AtW View Post
                  Makes sense for HMRC to bankrupt celebrities because it gets a lot of free coverage as a warning to others.
                  But they don't get any of our money back.

                  Better getting them to pay £20 a month than bankrupting them.
                  "You’re just a bad memory who doesn’t know when to go away" JR

                  Comment


                    #10
                    Please understand: it's not about the money, and never was.
                    It's about punishment, and setting an example for others. Sorta like hanging someone where everyone can see.
                    Help preserve the right to be a contractor in the UK

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