Steve Staunton bankrupt

[Chico Hamilton III]

Last time I saw Staunton he was walking down Savile Row with an arm full of shopping bags. He still looked badly dressed.

Last time I saw him he was drinking in the Sacred Heart before the Albion cup game last year

[Ad@m]

That's it in a nutshell.  People like Staunton and Alex Ferguson "invested" money in film schemes, that were designed purely to avoid tax.  When those schemes failed, the people involved have to pay back the tax, plus penalties, plus interest, which can be several times what they put in, in the first place.  Plus they would have paid a fee to the promoter which they wouldn't get back.

I'm going out in a limb here but I'd suggest you don't have an intimate knowledge of either Steve Staunton's or Alex Ferguson's tax affairs. If the government are going to offer tax incentives to support investment in to the UK film industry there must be some legitimate ways of utilising them.

It could be as simple as Stan thought that it was a good investment and the film bombed. It happens. The fact he's declared bankruptcy doesn't immediately imply he was in to some dodgy tax scam.

[brontebilly]

He is still only forty seven, a long way to go yet. He will lose the standard of living his family are used to but a lot of people are in a far worse position.

Money,after all isn't everything. Will no doubt get a job as a pundit in Ireland perhaps if he is lucky.

Stan unfortunately became of a figure of fun in Ireland after his efforts as international manager. Media work really isnt his forte, nor management.

[Dominic22]

That's it in a nutshell.  People like Staunton and Alex Ferguson "invested" money in film schemes, that were designed purely to avoid tax.  When those schemes failed, the people involved have to pay back the tax, plus penalties, plus interest, which can be several times what they put in, in the first place.  Plus they would have paid a fee to the promoter which they wouldn't get back.

I'm going out in a limb here but I'd suggest you don't have an intimate knowledge of either Steve Staunton's or Alex Ferguson's tax affairs. If the government are going to offer tax incentives to support investment in to the UK film industry there must be some legitimate ways of utilising them.

It could be as simple as Stan thought that it was a good investment and the film bombed. It happens. The fact he's declared bankruptcy doesn't immediately imply he was in to some dodgy tax scam.

Have  a read of this to give you an idea http://citywire.co.uk/wealth-manager/news/football-stars-face-life-changing-tax-bills-over-film-scheme/a972226 . Lots of the investors (footballers) had the same agents or firm of agents. These firms were introducers to the financial advisors they were taking a hefty "introducer fee" on the investment. Lots are in real trouble including a fair few ex Villa players some still playing. Unfortunately the advising firm's were complete charlatans all Ltd companies and so most are now wound-up so no avenue to claim redress. 

[Risso]

That's it in a nutshell.  People like Staunton and Alex Ferguson "invested" money in film schemes, that were designed purely to avoid tax.  When those schemes failed, the people involved have to pay back the tax, plus penalties, plus interest, which can be several times what they put in, in the first place.  Plus they would have paid a fee to the promoter which they wouldn't get back.

I'm going out in a limb here but I'd suggest you don't have an intimate knowledge of either Steve Staunton's or Alex Ferguson's tax affairs. If the government are going to offer tax incentives to support investment in to the UK film industry there must be some legitimate ways of utilising them.

It could be as simple as Stan thought that it was a good investment and the film bombed. It happens. The fact he's declared bankruptcy doesn't immediately imply he was in to some dodgy tax scam.

I don't need to have an intimate knowledge of their tax affairs.  I do though, have an in depth knowledge of how the film schemes work, how they were promoted, and the fact that thus far the schemes run by Ingenious have been defeated at tribunal.  It's also a matter of public record as to who invested in those schemes.  I'm afraid that it's with a huge amount of pomposity that I say that I do consider myself to be an expert on such matters.

[PeterWithesShin]

Shame you aren't an expert on quoting 

[Andy_Lochhead_in_the_air]

... film schemes, that were designed purely to avoid tax.  When those schemes failed, the people involved have to pay back the tax, plus penalties, plus interest, which can be several times what they put in, in the first place. 

As their vast wealth has ultimately come from us through extortionate ticket prices and TV subscriptions, it will be nice to see at least a small trifling amount perhaps maybe just finding its way back towards the  NHS, Education, Social Services instead of  Porsches, Rolex watches, and large horrible looking houses. 

[aev]

Apparently Gabby has a load of houses as well

His kids need to live somewhere.


I remember back in the 90s someone sent Steve Staunton's tax return into the Danny Baker Show.  I can't remember what he earned, but apparently he added the extra information "...and more if I score".

I remember that - it was very amusing.

[Duncan Shaw]

Serves them right for being greedy.  My old man always used to say don;t mind paying tax, you've got to earn it in the first place to pay it.  If they're earning massively over average wages pay your 50%, you're still earning loads.

[Archbishop Herbert Cockthrottle]

Trap 3 at Hove came nowhere so I will not be investing money in the production of the next bond movie.

I've just visited Trap 1 and I can assure you there were no winners there either.

MY EYES!

[darren woolley]

I met him a couple of times seems a decent enough chap.

[Risso]

Shame you aren't an expert on quoting 

Wasn't me what arsed it up!

[ChicagoLion]

Serves them right for being greedy.  My old man always used to say don;t mind paying tax, you've got to earn it in the first place to pay it.  If they're earning massively over average wages pay your 50%, you're still earning loads.

My dad said the same and I still disagree with him.

[AV82EC]

Serves them right for being greedy.  My old man always used to say don;t mind paying tax, you've got to earn it in the first place to pay it.  If they're earning massively over average wages pay your 50%, you're still earning loads.

My dad said the same and I still disagree with him.

I just don't think the lyrics scan very well...

[ChicagoLion]

Serves them right for being greedy.  My old man always used to say don;t mind paying tax, you've got to earn it in the first place to pay it.  If they're earning massively over average wages pay your 50%, you're still earning loads.

My dad said the same and I still disagree with him.

I just don't think the lyrics scan very well...

My old man said pay all the tax you can.
And I said I've hired a Tax Accountant.