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So Dettori takes UK tax payers for £765,542...
So Dettori takes UK tax payers for £765,542...
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How'd the company setup by Dettori to manage his professional affairs end up owing money to a car leasing company and HMRC? There were no unforeseen economic factors involved eg Covid, adverse weather, Foot and Mouth, etc. He was in constant employment throughout eg no suspension, no injury or sacking.
I think someone could have been channelling or funnelling money earned to spend on private indulgences not relating to his profession eg investment, buying expensive designer gear and motors, etc. |
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How do you think? The inflows ceased. The businesses still have outstanding liabilities.
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He went on "I am a Celebrity get me out of here" to nick a few quid and boost his ratings.
Got voted out first. Even the Glad Wags and Chav Dads could see through the veneer. |
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A lot of the halo polishing is off the scale, but in their own lives there aren't too many people that wilfully pay more tax than they absolutely have to. Of course, there are millions of people who lack the acumen to take advantage of all of the opportunities proffered. And can't afford advisers. I try to do something about that, in my own little modest way :)
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But he was still getting a regular mega flow of income from horseracing. The business of Detorri is unlike a retail company with variable overheads and costs. The incomes of Dettori were pretty much fixed eg riding fees, public appearances, share of prize money, etc. If there was a significant negative change in income the company should have been dissolved asap.
I'm astounded Dettori would choose bankruptcy over reputation and standing in the horseracing arena and community despite earning many, many more times than what's owed to HMRC. |
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Bankruptsy seems a useful tool. A restaurant part owned by
Phil Neville has gone bust owing 500k tax. I don't think it will affect him or his other businesses. |
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Let's hope Phil Neville has lost more than £500k of his own money unless his creditors were blind and foolish enough to give credit willingly because it was Phil Neville.
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Neville owns half of Manchester apparently, so I'm sure the huge Labour supporter and chief virtue signaller will cover the debts with HMRC his business racked up with his pocket change.
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I'm more concerned about the smaller creditors eg suppliers of ingredients and drinks, staff, etc. The losses incurred by Gary and/or Phil Neville are tax deductible which will no doubt be used efficiently by their accountants.
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you think Gary lost, that's cute :)
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At least these seem to be legitimate businesses,unlike Dettori's
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So is a Turkish barber. lol
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whist that's true Salmon there will be far more people affected who can't afford to lose the money owed to them by Neville's operation
plus they have the double whammy of paying for goods themselves prior to supplying the Psycho Sandbar HMRC will carry on as normal and the car leasing firm will get their vehicle back (I would imagine) |
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The front was a legitimate business. But so were FD's. Most 'stars' operate their affairs via limited entities.
You're already into interesting territory when a business (such as 'Relentless Leisure Limited' 'owes' another business £100's. When the owner of one of them was a director of another. |
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£100k's
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How much has gone the other way. What for. What price. Was it real activity.
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I think HMRC ought to wise up and consider charging an agreed tax upfront on any venture fronted by a known face (or name) without an established trading history in the field. Otherwise, this will be opened to abuse on a regular basis esp if the known face is being paid or has benefits eg usage and hospitality of the venture, etc.
The taxpayers and small creditors must not be repeatedly left holding the rotten / rotting apple. |
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happened to me over 30 years ago so absolutely nothing has changed - the company that went under owing us (a partnership with employees)
approx £15k (roughly equivalent to £40k today) they started up again the following week under new name slight change in directors and walked away virtually scot-free Im led to believe meanwhile we never recovered and went under 2 years later - HMRC showed us absolutely no mercy... |
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Their savagery knows no bounds. You have my sympathy.
It is one of the things which I despise about the POTUS. I believe he has been bankrupt five times - by plan/design I assume. How many livelihoods and lives has that bsstrd blighted? And will he care? Not a jot! |
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I don't know the US system, but here most people vastly overestimate the impact of BR. I think many still believe it's akin to being put in the stocks. In reality it's another scenario of the least worst option. Most people would also be astonished in regard to what is considered as reasonable living expenses.
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TORYGRAPH reporting on dettori been investigated by HMRC for another tax avoidance case , could yet be riding in THE SLOP OUT STAKES
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Frankie Dettori's bankruptcy has been extended by 12 months with the former rider said on Thursday to have not complied with orders requiring him to give full disclosure of his assets.
Stefan Ramel, for the trustees, told the court Dettori “has not complied and is still not complying” with requests for information about his assets, including whether he owns properties abroad. Nicholas Briggs, chief insolvency and companies court judge, ruled that the order would remain in place until March 16 next year, adding it was “not an unrealistic period” given the “blatant failure” by Dettori to provide information when asked. He said: “There is much to uncover in this bankruptcy, and it may well be that criminal sanctions will be a useful tool for the trustees.” Dettori did not appear at the hearing and was not represented. I used to love Dettori the jockey and can't believe he does not care a jot about his reputation in the UK. In reality just another taker... |
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He would appear to be a fraudster.
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Frankie Dettori's bankruptcy has been extended by 12 months with the former rider said on Thursday to have not complied with orders requiring him to give full disclosure of his assets.
Dettori, who retired last month, was made bankrupt in March last year and had been due to be automatically discharged on March 17. However, at a hearing in the specialist insolvency court in London on Thursday, an application was made by the trustees overseeing the process to extend the bankruptcy for a further year. Frankie Dettori unable to pay £765,000 tax debt following liquidation of legendary jockey's companies Frankie Dettori 'saddened and embarrassed' after revealing he is filing for bankruptcy Stefan Ramel, for the trustees, told the court Dettori “has not complied and is still not complying” with requests for information about his assets, including whether he owns properties abroad. Dettori did not appear at the hearing and was not represented. Nicholas Briggs, chief insolvency and companies court judge, ruled that the order would remain in place until March 16 next year, adding it was “not an unrealistic period” given the “blatant failure” by Dettori to provide information when asked. He said: “There is much to uncover in this bankruptcy, and it may well be that criminal sanctions will be a useful tool for the trustees.” Frankie Dettori: Frankie Dettori: filed for bankruptcy last March Credit: Edward Whitaker (racingpost.com/photos) Dettori had told the bankruptcy trustees in December that he “did not” own properties abroad, but was later discovered to have “a number of properties that had not been disclosed to the trustees, in particular in France and Italy”. Judge Briggs also raised “other concerns” about disclosure of assets, including a Piaget watch, a wine collection worth around £70,000 and investments worth around £365,000. Dettori entered bankruptcy last year having been involved in a “tax avoidance scheme”. In a statement at the time, he said he was “saddened and embarrassed” having been put in the position by a previous financial adviser, who had since left him. In January, an update on the liquidation of his companies, Frankie Dettori Limited and Newmarket Activities Limited, showed the companies had an outstanding debt of £765,000 to HM Revenue and Customs that would not be repaid unless there were changes during the investigations. |
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Q Why did Boris Becker go to prison?
AI Overview Former tennis star Boris Becker was jailed in April 2022 for 2.5 years for hiding £2.5 million in assets and loans to avoid paying debts following his 2017 bankruptcy. He was found guilty of four charges under the Insolvency Act, including transferring, concealing, and failing to disclose assets, before being released in December 2022 after serving eight months. Key Details of the Conviction: Asset Hiding: Becker failed to declare a £1 million property in his hometown of Leimen, Germany, a £700,000 bank loan, and shares in a tech firm. Illegal Transactions: He transferred hundreds of thousands of pounds from his business account to other parties. Context: The conviction followed a 2017 bankruptcy related to an unpaid loan of over £3 million on a property in Mallorca. . Sentence & Release: He was sentenced to 30 months but served only eight months in HMP Wandsworth and HMP Huntercombe before being deported to Germany. |
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Im sure there will be inmates round the country rubbing there hands @ the possibility of riding a Deby Winner
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Yes they will find the hidden funds allegedly lol, he thinks he is clever but they have hidden means to explore and they will find it, stupid to think otherwise unless he has put properties in someone else’s name more than 7 years ago, he could have paid it, it’s not like he hasn’t earned multi multi millions and people can estimate how much he earns from prize money won, they can extend it for years to come so he ain’t clever at all imo
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What a waste of a man and his money.
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Dettori was a topic on talking points on Luck on Sunday and Luck bottled it, topic finished after Malone said it was very sad
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RTV is not the BF Forum where people feel free to make slanderous allegations nearly every day,MrC
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Not declaring or hiding is worse than being found out and a penalty imposed. The penalty for the former is usually much severe than the latter.
Mr Dettori is unwise, and greedy man. |
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RTV is not the BF Forum where people feel free to make slanderous allegations nearly every day,MrC
Any broadcaster should be able to cope with that. It's funny how those 'rules' are applied for some people and not others. They could, for example, easily have read out the key elements of what was published. |
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Geoff
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The chief gob shyte champagne socialist [Channing] would ordinarily be very vocal on such matters.
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Although they spent more time talking about the jolly they apparently went on in Sandown after racing yesterday.
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