MARYHILLISWONDERFUL Posted July 25, 2017 Share Posted July 25, 2017 When someone gives Barry Ferguson a fiver. (By the way any discussion about his bankruptcy goes in here.) Link to comment Share on other sites More sharing options...
maicoman Posted July 25, 2017 Share Posted July 25, 2017 Thought he owned about 14 houses at one time Link to comment Share on other sites More sharing options...
MARYHILLISWONDERFUL Posted July 25, 2017 Author Share Posted July 25, 2017 14 minutes ago, maicoman said: Thought he owned about 14 houses at one time I know but he's bankrupt he'll probably have to sell some of his houses, anyway it's only a joke he won't be homeless but he will have to sell a few of his houses I think. Link to comment Share on other sites More sharing options...
welshbairn Posted July 25, 2017 Share Posted July 25, 2017 You could give him your pocket money. Link to comment Share on other sites More sharing options...
MARYHILLISWONDERFUL Posted July 25, 2017 Author Share Posted July 25, 2017 4 minutes ago, welshbairn said: You could give him your pocket money. I'll consider it! Link to comment Share on other sites More sharing options...
John Lambies Doos Posted July 26, 2017 Share Posted July 26, 2017 Pence in the pound? Imagine actually doing that at hampden. What a fanny Link to comment Share on other sites More sharing options...
Dindeleux Posted July 26, 2017 Share Posted July 26, 2017 Anyone who thinks Ferguson is somehow skint is kidding themselves on......house, businesses etc all in wife's name.He has been outed as a guy who won trophies via cheating and this is his first EBT defence. Link to comment Share on other sites More sharing options...
ICTChris Posted July 26, 2017 Share Posted July 26, 2017 Is this related to the EBTs, tax-case etc? ETA - I just googled and the newspapers are saying he was involved in the "film production" tax dodge, sorry, the film production completely legitimate business. More likely to be as the result of that, which will be bankrupting a few former players I bet. Link to comment Share on other sites More sharing options...
Kennboy1978 Posted July 26, 2017 Share Posted July 26, 2017 Is this related to the EBTs, tax-case etc? Who knows for certain but the timing is very close, when did he actually file for bankruptcy ?Assets of £3000 ? He probably has a watch that costs that much. Link to comment Share on other sites More sharing options...
Ross. Posted July 26, 2017 Share Posted July 26, 2017 3 minutes ago, ICTChris said: Is this related to the EBTs, tax-case etc? From what little I have read, it's a tax issue not related to that. Possibly the claim on those "Film production companies" that many invested in while he was at the top of his career. As stated previously though, most assets will be in his wife/partners name and the tax man will get the best part of sod all from him. Link to comment Share on other sites More sharing options...
ICTChris Posted July 26, 2017 Share Posted July 26, 2017 Just now, Ross. said: From what little I have read, it's a tax issue not related to that. Possibly the claim on those "Film production companies" that many invested in while he was at the top of his career. As stated previously though, most assets will be in his wife/partners name and the tax man will get the best part of sod all from him. I rememeber reading a great blog by Adam Curtis about that particular scam. Films produced solely to facilitate tax dodges, including a film about a giant prawn? Link to comment Share on other sites More sharing options...
Ross. Posted July 26, 2017 Share Posted July 26, 2017 Just now, ICTChris said: I rememeber reading a great blog by Adam Curtis about that particular scam. Films produced solely to facilitate tax dodges, including a film about a giant prawn? There were hundreds if not thousands of them set up, and some were actually quite successful but many were pretty much a joke(which is why the scheme ultimately failed and was recognised as a tax dodge). From my understanding, the tax dodge involved was that whatever you paid in saw the tax on that amount effectively refunded to you, so a 40% tax rate payer for example would put in 100k and then see the investment boosted by around 30k when the tax element was added back in. Many of the funds would spend only a fraction of what they took in on productions before paying back out, meaning you got more back than you put in. What is interesting there is theoretically, taking the EBTs into consideration, it is possible Ferguson was receiving tax relief on earnings that he hadn't actually paid tax on in the first place... Link to comment Share on other sites More sharing options...
supermik Posted July 26, 2017 Share Posted July 26, 2017 He will have had advice on every dodge going before he went for bankruptcy. Everything will be in other people's names. Pretty sure that the sometime boxing promoter Barry Hughes declared bankruptcy one week then bought a Roll Royce the following week. Hope he has made all his ppi claims already or they will all be taken. (Like mine was) Link to comment Share on other sites More sharing options...
ICTChris Posted July 26, 2017 Share Posted July 26, 2017 4 minutes ago, Ross. said: There were hundreds if not thousands of them set up, and some were actually quite successful but many were pretty much a joke(which is why the scheme ultimately failed and was recognised as a tax dodge). From my understanding, the tax dodge involved was that whatever you paid in saw the tax on that amount effectively refunded to you, so a 40% tax rate payer for example would put in 100k and then see the investment boosted by around 30k when the tax element was added back in. Many of the funds would spend only a fraction of what they took in on productions before paying back out, meaning you got more back than you put in. What is interesting there is theoretically, taking the EBTs into consideration, it is possible Ferguson was receiving tax relief on earnings that he hadn't actually paid tax on in the first place... This is the Adam Curtis blog that touches on the film tax scam - http://www.bbc.co.uk/blogs/adamcurtis/entries/2c5a4a2a-745a-31cd-8d16-370a4cf98af5 this is the Nick Cohen piece he quotes in the blog - https://www.theguardian.com/film/2005/may/15/tax.money Link to comment Share on other sites More sharing options...
Forfinn Posted July 26, 2017 Share Posted July 26, 2017 8 minutes ago, ICTChris said: I rememeber reading a great blog by Adam Curtis about that particular scam. Films produced solely to facilitate tax dodges, including a film about a giant prawn? Sounds awfully like Springtime for Hitler. The Herald were reporting yesterday that Ferguson transferred the family home to his wife in 2011. Any assets transferred more than 5 years ago can't be used to pay bankruptcy debts. Therefore, you might speculate that the Fergusons have been planning towards this eventuality for some time. Link to comment Share on other sites More sharing options...
Ross. Posted July 26, 2017 Share Posted July 26, 2017 3 minutes ago, ICTChris said: This is the Adam Curtis blog that touches on the film tax scam - http://www.bbc.co.uk/blogs/adamcurtis/entries/2c5a4a2a-745a-31cd-8d16-370a4cf98af5 this is the Nick Cohen piece he quotes in the blog - https://www.theguardian.com/film/2005/may/15/tax.money Started reading both and realised I have read them before. Have they been linked to this forum or did I stumble across them somewhere else? Link to comment Share on other sites More sharing options...
Ross. Posted July 26, 2017 Share Posted July 26, 2017 3 minutes ago, Forfinn said: Sounds awfully like Springtime for Hitler. The Herald were reporting yesterday that Ferguson transferred the family home to his wife in 2011. Any assets transferred more than 5 years ago can't be used to pay bankruptcy debts. Therefore, you might speculate that the Fergusons have been planning towards this eventuality for some time. It's a relatively common thing for aging sportsmen to do that. When they reach the point that they are too old to get one last surprise big money move and realise their outgoings will soon far outnumber their income, they make sure that when it finally runs out they have kept as much of it as safe as possible. Especially common with those who have already made that surprise late career move to stave off bankruptcy as it is. Link to comment Share on other sites More sharing options...
ICTChris Posted July 26, 2017 Share Posted July 26, 2017 6 minutes ago, Ross. said: Started reading both and realised I have read them before. Have they been linked to this forum or did I stumble across them somewhere else? I've maybe linked to them before. I want to see the boxing prawn film. Link to comment Share on other sites More sharing options...
throbber Posted July 26, 2017 Share Posted July 26, 2017 I would love it if his wife took all of his assets and then left him for Chris Sutton. Link to comment Share on other sites More sharing options...
Jamaldo Posted July 26, 2017 Share Posted July 26, 2017 Bankruptcy doesn't literally mean he's skint. It just means he doesn't have enough to cover all the debt he probably brought on himself by being a wee fanny who thought he was invincible. 50 cent declared bankruptcy. People don't genuinely think he's walking around with only the shirt on his back though. Link to comment Share on other sites More sharing options...
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