Reply With QuoteYou say this was a limited company. Would he not have paid 19% corporation tax on all annual profits net of any allowable deductions?Originally Posted by pipster
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Lineker was first uncovered after the panama papers hack (the same hack that got David Cameron and quite a few others) here is the Guardian article evasion / avoidance depends on your side - buying property in Barbados via British Virgin Isles company , looks as legit as operating through a company in Cayman Islands....
He would have only paid tax on what he paid himself as a salary when working for Gary Linker Media Ltd. That would also include employers and employees NI , and he would have paid tax on his dividends (if he did any) The remainder wouldnt have incurred any taxes as it was a loop hole he jumped through. Same as jimmy Carr, paid hardly any tax - until he also caught - I think he rolled over and paid up.
Companies house should be able to give you the dividend payments (but I think you have to pay for this level of data)
You say this was a limited company. Would he not have paid 19% corporation tax on all annual profits net of any allowable deductions?
It does all rather sound like tax avoidance. I can see how they are in a difficult position though. It's not hard to see how this is beneficial for anyone freelance..let's say a DJ who works for many venues or something but it does leave a sour taste in the mouth when we are talking about such huge sums.
In defence of Lineker, I think it's clear to see why being freelance is right for him - he may not want to be tied to one organisation and he probably doesn't need the benefits or security that provides. That said, we assume that with the top rate of tax being 45% that the most wealthy should be paying that and it seems thats unlikely to be the case, but who knows? 🤷
The only reason this ever came out was because of the Panama Papers hack. David Cameron had his company called Blairmore (ironic) . One of Linekers other companies was called GoalHanger, that was also involved in the property purchase (it seems he had more than one company..) - a bit similar to how a Tony Blair arranges his web of companies.
Listen - I know that there are lots of people and companies earning lots of money - and surprisingly they want to "invest" it in schemes so it lowers their profits and if they can do it overseas even better. Lower or no profits = no corporation tax.
Chris Moyles got caught whilst trying to pretend he was a used car salesman - dealing in cars overseas, Jimmy Carr if I remember boasted on not paying at all, turns out he was "investing" / loaning money in a jersey film company that never made a profit - he paid up.
They all think they are clean as - until it goes to court - and then it depends how good their legal team is. None of the above passes the sniff test to me, legal or illegal - less tax was paid than if they had traded as a 'normal' company
If, like me, you set up your own business, I would have thought that you would have known the differences between the business structures of sole traders, partnerships and limited companies, particularly around the relative reporting obligations on those business structures.
Gary Linker (sic) Media Ltd never existed as it was never a limited company but a partnership. You have no clue how much tax he paid because a partnership has no legal right state that. The rest is just noise.
"Would he not have paid 19% corporation tax on all annual profits net of any allowable deductions?" - I thought you said you ran a company - yet seem to be unsure when corp tax was due - and what remedies can be put in place to avoid paying it.
I do. That's why I thought it strange you thought Gary Linker (sic) Media Ltd, was actually a limited company registered at Companies House where you could see his tax liabilities. Instead the structure that HMRC pursued was a Partnership, no Companies House obligations like a limited company and no corporation tax obligations.
I thought you were an IR35 expert, given the PM you sent me telling me all about your commercial expertise.
Is Cyco Cyril having another blip?Stop overthinking and stop getting worked up , its not helping is it
TWGL1 wrote that four days ago. I know that you and him spend your persona off-line but me and pip were chatting. It's almost like you want to overwrite his stupidity!Is Cyco Cyril having another blip?
For anyone interested here is IPSe's view on the Lineker case
Which is the bit where they talk about Gary's tweet?
