Hamilton and Button tax avoidance
Discussion
complete non issue. even Jackie stewart and jim clark moved abroad for the same reasons!
footballers are paid image rights rather than a salary because of tax reasons
at the end of the day lewis and button will still pay tax, but in the country that they do the work....Ie will be paid for the british gp in Britain and pay tax on the earnings from that race....lets face it WHY would you pay for other earnings from other races and countries into the UK coffers?
footballers are paid image rights rather than a salary because of tax reasons
at the end of the day lewis and button will still pay tax, but in the country that they do the work....Ie will be paid for the british gp in Britain and pay tax on the earnings from that race....lets face it WHY would you pay for other earnings from other races and countries into the UK coffers?
funkyrobot said:
I may be wrong, but I recall reading somewhere that when driving at different circuits they are working in different countries. Therefore, they are taxed for the work they do in the country they are in. This means that they could be paying tax everywhere.
Does this sound right?
I believe that is correct.Does this sound right?
Presumably the OP's friends like Ed Millibands stance on the Non Doms too ?
What I would like to see Lewis and Jenson do is start a Karting Academy or even sponsor a team for the Youngsters in this country, Simular to Beckys football one.
They both have a lots to thank for their Karting roots and its not to much to ask to help some of the more under funded Kids out there.
They could prob write it off to the Taxman as well!
They both have a lots to thank for their Karting roots and its not to much to ask to help some of the more under funded Kids out there.
They could prob write it off to the Taxman as well!
funkyrobot said:
I may be wrong, but I recall reading somewhere that when driving at different circuits they are working in different countries. Therefore, they are taxed for the work they do in the country they are in. This means that they could be paying tax everywhere.
Does this sound right?
No.Does this sound right?
Sounds like a chip....
They probably pay so much tax that alone they will be supporting a lot of families claiming benefits that they are not entitled too!!
We all try to mitigate our tax liability, nothing wrong with that. The fact that they earn much more money than the average person has to do with the income the sport generates globally and they are a part of it.
I think the mentality comes from someone that is an employee... a self employed person will understand the tax avoidance better!! If I was in his position I would not want to pay more tax than I legally have to. Why should my morals be any different from anyone else? Just because my pay check is higher I have the "duty" of paying more than I should?
I think in the end charitable work comes to each conscience and that is a different matter. Rants about other peoples tax avoidance sounds like chip in the shoulder... time to move on we live in a global village! The money they make is not linked to them driving a car is what that driving creates in revenue. A top CEO doesn't earn hundreds of thousands because is hourly rate is high and his signature is inked in gold but because his leadership makes the company a lot of money (or it should), top CEOs just have lunches and meetings like most people that work in offices but they earn much more because of the income their leadership produces not from their everyday tasks.
They probably pay so much tax that alone they will be supporting a lot of families claiming benefits that they are not entitled too!!
We all try to mitigate our tax liability, nothing wrong with that. The fact that they earn much more money than the average person has to do with the income the sport generates globally and they are a part of it.
I think the mentality comes from someone that is an employee... a self employed person will understand the tax avoidance better!! If I was in his position I would not want to pay more tax than I legally have to. Why should my morals be any different from anyone else? Just because my pay check is higher I have the "duty" of paying more than I should?
I think in the end charitable work comes to each conscience and that is a different matter. Rants about other peoples tax avoidance sounds like chip in the shoulder... time to move on we live in a global village! The money they make is not linked to them driving a car is what that driving creates in revenue. A top CEO doesn't earn hundreds of thousands because is hourly rate is high and his signature is inked in gold but because his leadership makes the company a lot of money (or it should), top CEOs just have lunches and meetings like most people that work in offices but they earn much more because of the income their leadership produces not from their everyday tasks.
Lotus E300S said:
DIW35 said:
Can I presume that your friends never drink coffee at Starbucks or order goods from Amazon for similar reasons then?
Never, always costa and never buy from amazon.To give them their dues they practice what they preach.
It's the governments fault for not closing the loop-holes in the first place.
But if I had to choose, I'd opt for Costa too as Starbucks coffee tastes grim. I find the beans are very bitter and taste burnt.
jogon said:
No issues with Hamilton or Button but Paula Radcliffe is one I do, she has enjoyed her tax free millionaire lifestyle in Monaco for years all while receiving Lottery Funding which only ended back in 2012 despite doing f
k all since 2005. The same now goes for Mo Farah but at least he actually wins stuff.
Mo Farah (I don't know what the term is) switched his tax to the US because his training camp is there and he lives there when he's not competing - I forget the reasoning, but it was a practical one and his tax liability actually remained about the same. Now I think about it, if he didn't he might have found himself liable for both UK and US tax, their Tax system is more 'far reaching' than ours - they don't care where you live, or where you earn your money - if you're a US citizen, you pay US taxes. k all since 2005. The same now goes for Mo Farah but at least he actually wins stuff.The sooner people accept that they would do exactly the same in this scenario and organise their tax affairs to the best possible advantage, within legal means, which is what you are supposed to do, the better.
Anyone who has an ISA or has claimed their uniform against tax own up as I shan't be communicating with you going forward, don't care which races you've won
Anyone who has an ISA or has claimed their uniform against tax own up as I shan't be communicating with you going forward, don't care which races you've won
beanbag said:
But if I had to choose, I'd opt for Costa too as Starbucks coffee tastes grim. I find the beans are very bitter and taste burnt.
My take on this is that Starbucks choose, blend, roast and grind their beans on the assumption that most people will be drinking some form of bdized frappuccino thing which is 90% milk, sugar and syrup and thus the coffee needs to taste rank to actually have a hope of influencing the taste of the end product.Dunit said:
What I would like to see Lewis and Jenson do is start a Karting Academy or even sponsor a team for the Youngsters in this country, Simular to Beckys football one.
They both have a lots to thank for their Karting roots and its not to much to ask to help some of the more under funded Kids out there.
They could prob write it off to the Taxman as well!
It's been announced today that, that is exactly what John Surtees is doing. He already owns the Freehold of Buckmore Park but has now agreed the purchase of the Trading Companies there with the intention of creating an Education Centre not just for up and coming drivers but also the next generation of engineers and designers.They both have a lots to thank for their Karting roots and its not to much to ask to help some of the more under funded Kids out there.
They could prob write it off to the Taxman as well!
It seems to be perceived as only human nature that Button et al would want to minimise the tax they pay.
I tend to agree, which is why I can't get too surprised about someone who lives here trying to achieve the same result.
Here though, they'll be pilloried, despite the fact they can't possibly copy the strategies and tactics of the super rich.
That doesn't sit too well with me. I suppose because there are a few areas where I think things should be equal irrespective of wealth. They probably never will be but it doesn't mean I don't want them to be.
I tend to agree, which is why I can't get too surprised about someone who lives here trying to achieve the same result.
Here though, they'll be pilloried, despite the fact they can't possibly copy the strategies and tactics of the super rich.
That doesn't sit too well with me. I suppose because there are a few areas where I think things should be equal irrespective of wealth. They probably never will be but it doesn't mean I don't want them to be.
Truckosaurus said:
Also, before he was famous Lewis used to park his sign-written Mercedes C-class "Lewis Hamilton - Racing Driver" in Stevenage Leisure Park for free and walk across to the train station rather than pay for parking at the station itself.
The cheapskate
That alone is the only bit of information I'm taking from this thread.The cheapskate
If true - and I really hope it is: Brilliant!
...And I choose to believe it was written in a brush-script font and made from neon vinyl
I must say I do see OP's friends point, only to the extent that if you are a national hero and all your media says 'British driver/champion etc' then it's a shame they don't believe in the UK taxation system. Just the same as Starbucks/Amazon etc. I don't think Lewis/Hamilton are any better.
All media based though, the media tell us that they multinationals using foreign tax saving systems are immoral, yet when any media darlings are doing exactly the same thing it's not even commented on.
All media based though, the media tell us that they multinationals using foreign tax saving systems are immoral, yet when any media darlings are doing exactly the same thing it's not even commented on.
Lotus E300S said:
Don't know to be honest but they are successful Tory voters who pay the top rate of UK tax, I was very surprised by their views.
Nobody is perfect. Your friends paying top rate of tax doesn't mean that they won't try to find loopholes to pay less. They should be angry at any UK govt for not thinking about reducing tax so more people are willing to stay here. Tax has to be paid in any country but if you can pay less somewhere else why not? Do you insist on paying full price when there's a sale on?Gassing Station | Formula 1 | Top of Page | What's New | My Stuff