A decent young man

[Bodd]

More people like this gentleman, then the world and this country would be much better.

https://www.thesun.co.uk/sport/football/7809367/chelsea-kante-more-tax-amazon-starbucks/

 

[Mottie]

I’d be happy paying double what he pays in tax if I was earning what he was!

Anyway, if he means what he says, let’s see if he shuts his limited company down. He doesn’t seem to have done anything about it so far.

https://beta.companieshouse.gov.uk/company/10211233

 

[JohnD]

I look forward to the day when tax-dodging billionaires and corporations stop getting away with it.

Funny thing is,

 

[noseall]

Anyway, if he means what he says, let’s see if he shuts his limited company down.

Why if it is UK based?

 

[Bodd]

I look forward to the day when tax-dodging billionaires and corporations stop getting away with it.

Funny thing is,

View attachment 152905

So if the EU is getting tough on tax dodging then we go either 2 ways.

One is follow their direction.

Or we use it as a negotiating tool to woo company's like Amazon into investing in UK operations and creating jobs in exchange for Lower tax incentives.

Each company could be negotiating a bespoke deal with the UK, depending on what they have to offer..

Starbucks have nothing to offer... Its pay your fair share or don't trade in the UK.

 

[durhamplumber]

I look forward to the day when tax-dodging billionaires and corporations stop getting away with it.

Funny thing is,

View attachment 152905

No.we leaving EU before a European armed forces is introduced and the EU shafts us even more

 

[Mottie]

Why if it is UK based?

What do you think he’s going to do - go on paye. I’d be surprised if he pays a fraction of that £6.7m in personal taxes. If he’s paid through his limited company, I’ll be surprised if there aren’t expenses to offset against - accommodation, travel, corporation tax, pension payments, dividend payouts, Director loans, charitable payments etc etc. The usual benefits of running a Ltd company.

 

[SammyInnit]

I never imagined doing the right thing would make you superior but here it is.

 

[EFLImpudence]

Doesn't it always do that?

What is the alternative?

 

[noseall]

I’d be surprised I’ll be surprised

You may be surprised to learn that even if he channels his money through a limited UK company, he will still be liable for a huge chunk of tax even after usual LTD deductions. Do you think LTD companies pay zero tax?

 

[EddieM]

You may be surprised to learn that even if he channels his money through a limited UK company, he will still be liable for a huge chunk of tax even after usual LTD deductions. Do you think LTD companies pay zero tax?

Indeed. Most of us with limited companies really don't turn over enough for clever tax avoidance specialists and simple have to put up with reasonable expenses and deductions and pay our corp tax and VAT like good boys.

 

[EFLImpudence]

That's exactly how and why the system was designed as it was.

 

[Mottie]

You may be surprised to learn that even if he channels his money through a limited UK company, he will still be liable for a huge chunk of tax even after usual LTD deductions. Do you think LTD companies pay zero tax?

Yes, all companies pay tax on their profits but I he pays himself a salary through the limited company, he’ll pay £6.7m in income tax PLUS £309k NI, PLUS the company will have a £2m+ NI bill. He'll end up with 'just' £6m in his pocket. You can rest assured he won’t be doing that.

If he pays himself in dividends through the limited company, he'll pay about £5.7m in dividend tax, **** all in income tax and no personal or company NI contributions (dividends are exempt from NI) and end up trousering £9.3m

It’s a little bit more involved than that and there’s lots more ways to minimise the total tax payable but you can see there’s a clear benefit for being paid in dividends rather than a salary and it’s all perfectly legal and above board. Most Ltd company directors pay themselves in dividends and not income.

It may have changed this year but here’s my calcs based on last years allowances/taxation rates.

 

[JohnD]

I won't be surprised if the money dribbles out, as directors fees or dividends, to him over quite a number of years, because his playing career will be much shorter than a normal working life. This may have the effect of reducing his tax bracket, and saving NI. Perhaps his company will diversify into other line of business, such as a Caribean hotel, which the directors will be obliged to visit from time to time.

Company contributions to his pension scheme will be free of income tax, NI and corporation tax.

Even a plumber can do all that.

Professional sportsmen AFAIK still have special rules allowing them to draw their pension quite young, when they're "past it."

 

[noseall]

I’d be surprised if he pays a fraction of that £6.7m in personal taxes.

Lol.