Brian Deane on Breakfast

[skegblade]

they should have gone into education like you did

Arthritis fingers small keypad

 

[programmechap]

Do we know each other? I work directly against you. For years HMRC have gone after the wrong targets with regard to avoidance schemes. Even though they have had the power to pursue the scheme promoters they have gone for the easy targets, including a lot of nurses and similar. HMRC’s actions have been scandalous and are not defensible. You will no doubt be aware of the number of suicides attributed to the Loan Charge. The Enabler provisions might improve matters, but will HMRC use them effectively? Not if past behaviour is anything to go by.

I'm actually currently involved in a case where we're criminally prosecuting the promoters of a dodgy loan charge scheme

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[TCsLoveChild]

It seems to me that the ones no one is blaming are the players agents. They are paid 10-15% + to look after the players interests. No one can realistically expect footballers to fully understand these schemes ( let’s be honest footballers generally are not the sharpest of minds, certainly not the one I know/met), but the agents should be checking that schemes promising massive returns or tax avoidance should be legal and/or safe. They are the ones who introduced the financial advisers and should at the very least be doing due diligence on both the advisers and the schemes they recommend, that is literally their job. IMO they are just as guilty as the dodgy advisers. UTB

 

[Nick Jansky]

I'm actually currently involved in a case where we're criminally prosecuting the promoters of a dodgy loan charge scheme

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About time. You work for FIS?

 

[Nick Jansky]

Post office scandal started in 1999, most were only aware after the documentary was made.

Worse still the infected blood scandal started in the 1970's.



Presumably these 'schemes' were making profits initially, otherwise HMRC would not be chasing them for taxes due.

No, it just takes many years for them to be litigated until there is a final legal decision that they don’t work.

 

[Tickhill Blade]

Knew of Stuart and his acquaintances and the rumours at the time were that he’d bitten off more than he could chew with Cahill and one other. It seemed that the South Yorkshire crew didn’t fancy taking on the Liverpool crew and so Imprisonment was possibly the better option.

Bloody hell that's a blast from the past, used to play cricket with Stewart when I was a kid, never knew he was a convicted fraudster!

His dad used to run the team, top bloke and a big blade.

 

[tyneblade]

Yes, they were relatively wealthy but they’re still professional footballers with a short career, at the age of 35 their income could drop to zero.

So whilst the strategy of investing and avoiding tax wasn’t a good idea, it was a case of players trying to secure their futures. They weren’t the rich trying to get even richer.

If you’ve got a limited shelf life, your views on finances will be different to someone with a career that lasts into their 60s.

The irony is that all that was initially at risk was; the tax, on the interest, on their capital. To avoid that they were persuaded to place the whole of their capital at risk and still ended up with a tax bill.

 

[Tom Bott]

True , but if you're someone like Deano who is an icon at a club, you're unlikely to find it hard to get a job at 35. It's not like being reserve left back at Accrington Stanley.

And you can invest your money in legitimate investments that provide a decent return.

Like owning a football club.

 

[s20Blade]

Why exactly? Some of them went bankrupt as a result of this.

To me there is very little difference to an old lady getting scammed out of her life savings and a ex pro footballer getting scammed by a “financial advisor”.

Old lady getting scammed out of all her savings likely means she will be living on soap for the rest of her days

Footballer getting scammed out of savings means they will just have to do a few podcasts to afford the luxurious again.

 

[Pollingtonblade]

The route cause of all this can be traced back to our former Prime Minister Margaret Hilda Thatcher who told us greed was good.

 

[Edgar Allan Poo]

The route cause of all this can be traced back to our former Prime Minister Margaret Hilda Thatcher who told us greed was good.

Give it a rest. Greed has been around a bit longer than that.

 

[metalblade]

How can you feel sorry for them they earn more in a week than the average supporter does in a year. If they are too thick to put two thirds of what they earn aside while still enjoying a very good lifestyle then more fool them. Fifteen years earning what others can only dream of but they can expect another thirty years living an everyday life like normal people. They could always go out and get a job like everyone else has to. I guess some are just thick others plain greedy putting money in risky investments, still they are told before they invest returns could go up or down, those with more always tend to want more.

 

[YES Blade]

The route cause of all this can be traced back to our former Prime Minister Margaret Hilda Thatcher who told us greed was good.

I always thought that was Gordon Gekko?

 

[Varkanoid]

I always thought that was Gordon Gekko?

I always preferred Ed the Duck.

 

[Tickhill Blade]

So these two helped themselves to Danny Murphys millions, but it's the rest of us that have to suffer now he has to continue his 'punditry' in perpetuity. The boring bastard

 

[Berkshire Blade]

Old lady getting scammed out of all her savings likely means she will be living on soap for the rest of her days

Footballer getting scammed out of savings means they will just have to do a few podcasts to afford the luxurious again.

Just finished watching the show. A few have a highish profile. Plenty don't have particularly high ones. It's pretty remarkable how the cps didn't take some of the cases further as the claims made are pretty eye opening.


I'd love to know in what world rod Wallace is going to earn multi millions in retirement!

And as for Deano in tears when remembering how he hid is troubles from his now dead parents....the no sympathy posts come across as even more heartless

 

[Sean Thornton]

He

The route cause of all this can be traced back to our former Prime Minister Margaret Hilda Thatcher who told us greed was good.

You’re mixing her up with ex US President Gordon Gekko.

 

[wavy-blade]

Craig Short lost all his cash he earnt in this scheme , interesting program this !!

 

[Grappler]

The forged signatures part, alone, should have had the coppers all over this. How the police could have dropped the case is bizarre.

 

[sufc323]

I have no sympathy for them.

I think you need to give the program a watch and your opinion might change.

Just because they earned decent money, doesn’t mean they deserve to have their lives destroyed.

 

[Kenilworth]

This is bloody horrendous. Absolute shysters.
It’s not alright to scam anyone no matter if they are footballers who earned a whack or not. Vulnerable young lads whose futures have been ripped away when they could have been nicely comfortable from their god given talents.
They weren’t greedy, they trusted people to help them navigate something they knew little about. How could they know?

 

[wavy-blade]

Deano is left a wreck really , breaking down crying at least twice on the program , HMRC after them all for money they haven't got , they have all been ripped off by financial advice , having to sell their houses ! Some Been left bankrupt !
Danny Murphy is one of them

 

[Kenilworth]

I know I’m vastly underestimating the issue here, but in my simplistic way of viewing things:

If you’re a mid 30s ex prem footballer with 10M in the bank and someone approaches you with a scheme to turn that 10M into 20M and your answer isn’t ‘fuck off I’ve got enough money’

Then you’re a greedy bastard.

Too simplistic. Rod Wallace had £1.9m worth and that went. The risks should have been advised to them. It’s not alright just because you think they have a large wedge.

 

[Th!stledo]

Could always put their money in a bank or building society or just hide it under the floorboards like I do.

Interesting. Any chance I could have your address... Asking for friend?

 

[Harrisblade]

Why exactly? Some of them went bankrupt as a result of this.

To me there is very little difference to an old lady getting scammed out of her life savings and a ex pro footballer getting scammed by a “financial advisor”.

There was a time when footballers invested in schemes which were actually intended to make a loss because the loss created some sort of tax benefit which increased the finances of the footballer.
(can't remember the name of the scheme any more )

 

[Th!stledo]

Seriously, worth watching the programme on catch TV "Football’s Financial Shame: The Story of the V11".
Learning the full details and the effect it is having on the subjects might make some of you feel differently.

 

[Bartleby]

Too simplistic. Rod Wallace had £1.9m worth and that went. The risks should have been advised to them. It’s not alright just because you think they have a large wedge.

You say that like £1.9m is nowt. I have sympathy to a degree but in my book that's rich already, more than most of use will ever get near, so never mind a get rich quick scheme. If you go down that route you keep enough back in safer places you trust so you don't risk losing it all. If you throw the dice and chuck it all in based on what someone advises you then you're a fool who gets parted from his money.

 

[Mad Mick]

You may have no sympathy for the footballer but what about their wives and children?

 

[Silent Blade]

You may have no sympathy for the footballer but what about their wives and children?

I do have sympathy for the wives and children.

 

[K1 flabby stick]

You say that like £1.9m is nowt. I have sympathy to a degree but in my book that's rich already, more than most of use will ever get near, so never mind a get rich quick scheme. If you go down that route you keep enough back in safer places you trust so you don't risk losing it all. If you throw the dice and chuck it all in based on what someone advises you then you're a fool who gets parted from his money.

Have you watched the documentary ?

If not I suggest you do, you may then understand, then again maybe you wont.