Free Jimmy Carr

This is a discussion on Free Jimmy Carr within the The Foyer forums, part of the Off the Grid category; Apart from some second hand jokes and that strange look what did he do wrong? Any tax laws broken? If ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Jun 20, 2012, 11:21pm   #1
Joined Oct 2006
Free Jimmy Carr

Apart from some second hand jokes and that strange look what did he do wrong? Any tax laws broken? If so prove it, if not leave him alone.
pboyles is offline   Reply With Quote
Old Jun 20, 2012, 11:33pm   #2
 
robster970's Avatar
Joined Dec 2008
Re: Free Jimmy Carr

Nothing.

But when did that stop the censorial British press from deciding that somebody was 'doing wrong'?

A few weeks ago on the Today programme, they tried having a go at Philip Green. The day after, they issued an apology to both him and his wife.

Obviously the lawyers got on the blower and the BBC backed down. Notice how that didn't make front page news
__________________
Confident about your performance? Perhaps you should consider the Dunning-Kruger effect
robster970 is offline   Reply With Quote
Old Jun 21, 2012, 12:41am   #3
 
scose-no-doubt's Avatar
Joined Apr 2010
Re: Free Jimmy Carr

Possibly underpaying tax under the dreadedly toothless IR35 legislation lol.Otherwise he's basically just elected to book his gains in a private company and pay CT rate on them until he decides to distribute - which he'll undoubtedly do through a shifty off-shore loan/pensions/trust deal to swerve income and repatriation.

In short, he's not doing anything that a lot of TV personalities do. I used to have a list of some of the more well-known ones that do it but I've no idea why he's been singled out.

Example http://company-director-check.co.uk/director/910439817

There'll be a limited co partner in there somewhere too for further messing around.
__________________
"What the **** is going on here?!" - Mickey B

Looks like Scose be trollin' 'aaaaard tho... as far as some are concerned!
scose-no-doubt is offline   Reply With Quote
Old Jun 21, 2012, 2:02am   #4
Global Moderators are volunteer members with senior administrative powers to moderate all forums.
 
counter_violent's Avatar
Joined Aug 2004
Re: Free Jimmy Carr

Quote:
Originally Posted by pboyles View Post
Apart from some second hand jokes and that strange look what did he do wrong? Any tax laws broken? If so prove it, if not leave him alone.
I guess tangling with the revenue will rule him out of the England job then.
__________________
Spreading the madness across this suite of forums.

Those are my principles and if you don't like them, well..... I have others.

Kin Dissers Everywhere

We are all leavers now
counter_violent is offline   Reply With Quote
Old Jun 21, 2012, 6:05am   #5
 
Jack o'Clubs's Avatar
Joined Sep 2005
Re: Free Jimmy Carr

His brother runs a hedge fund, wait until the press get hold of that...imagine: evil siblings. They could be the new Kray twins.
Jack o'Clubs is offline   Reply With Quote
Old Jun 21, 2012, 8:06am   #6
Joined Dec 2011
Re: Free Jimmy Carr

No thanks, I've had enough of him already.
R.Charnock is offline   Reply With Quote
Old Jun 21, 2012, 8:40am   #7
 
YouAreNotFree's Avatar
Joined Jun 2011
Re: Free Jimmy Carr

Is it any wonder when they try to sqeeze 50% out of you?
YouAreNotFree is offline   Reply With Quote
Old Jun 21, 2012, 9:22am   #8
 
YouAreNotFree's Avatar
Joined Jun 2011
Re: Free Jimmy Carr

Jimmy Carr: 'I've made a terrible error of judgement' - Telegraph

He's a fool, unless he believes it will adversely affect his career here.
YouAreNotFree is offline   Reply With Quote
Old Jun 21, 2012, 9:24am   #9
 
trendie's Avatar
Joined Jan 2004
Re: Free Jimmy Carr

Quote:
Originally Posted by YouAreNotFree View Post
Is it any wonder when they try to sqeeze 50% out of you?
Paying corptax of about 20% is more than enough.
any way of reducing that even further?
any good schemes?
__________________
# If the only tool you have is a hammer, you tend to see every problem as a nail - Abraham Maslow
# There are 10 kinds of people in the world; those that understand binary, and those that dont. -Anon
# Ed Seykotas Whipsaw Song http://www.youtube.com/watch?v=LiE1V...Wlxk8&index=10
# Defeat is temporary. Giving up makes it permanent. Anon
trendie is offline   Reply With Quote
Old Jun 21, 2012, 9:52am   #10
 
scose-no-doubt's Avatar
Joined Apr 2010
Re: Free Jimmy Carr

Apparently he's a Jersey trust so he''ll be paying in the region of 0 to 10% at a serious push
__________________
"What the **** is going on here?!" - Mickey B

Looks like Scose be trollin' 'aaaaard tho... as far as some are concerned!
scose-no-doubt is offline   Reply With Quote
Old Jun 21, 2012, 9:59am   #11
 
robster970's Avatar
Joined Dec 2008
Re: Free Jimmy Carr

Quote:
Originally Posted by YouAreNotFree View Post
Jimmy Carr: 'I've made a terrible error of judgement' - Telegraph

He's a fool, unless he believes it will adversely affect his career here.
Unfortunately he has probably figured out that waging a one man crusade on this is likely to affect his audience size/ticket sales so a bit of damage limitation is the canny way to go about it.

Just goes to show how the press/media bully their own moral agenda into life rather than reporting what people are saying or doing.
__________________
Confident about your performance? Perhaps you should consider the Dunning-Kruger effect
robster970 is offline   Reply With Quote
Old Jun 21, 2012, 10:47am   #12
Joined Apr 2010
Re: Free Jimmy Carr

So is David Cameron going to repay his inheritance now

New Statesman - Cameron under fire for family's tax avoidance
markmc27 is offline   Reply With Quote
Old Jun 21, 2012, 11:03am   #13
 
rsh01's Avatar
Joined Nov 2010
Re: Free Jimmy Carr

The majority of contractors in finance industry in london go through similar tax efficient schemes, DMS is one such outfit.
rsh01 is offline   Reply With Quote
Old Jun 21, 2012, 11:17am   #14
Joined Jun 2011
Re: Free Jimmy Carr

Quote:
Originally Posted by trendie View Post
Paying corptax of about 20% is more than enough.
any way of reducing that even further?
any good schemes?
Increasing expenditure/investment on plant and equipment and other operating necessities and amenities that benefit any chosen group of people within the business is a good way to pay no corporation tax on the amount involved.
BeginnerJoe is offline   Reply With Quote
Old Jun 21, 2012, 11:24am   #15
Joined Feb 2012
Re: Free Jimmy Carr

Quote:
Originally Posted by pboyles View Post
Apart from some second hand jokes and that strange look what did he do wrong? Any tax laws broken? If so prove it, if not leave him alone.
Well, in fact there has been a principle in place for some years now that if there are a series of transactions or measures taken purely for the avoidance of tax then these will not be effective. This has been confirmed in numerous court cases. It doesn't matter whether all the steps are themselves legal, HMRC is able to look at the whole.

This particular scheme, if it is what the newspapers are reporting, would not be effective in my opinion. Frankly I was pretty amazed, I thought things like this had disappeared some time ago, and HMRC have successfully challenged and shut down things working on the same principle.

In this case you have a UK resident with UK earnings routing them through I imagine a company (ie, people don't hire or pay Jimmy Carr, they hire or pay Jimmy Carr Ltd) held in an offshore trust. The company then loans Jimmy Carr the individual the money.

If so, this is in clear violation - the sole purpose of these arrangements is to avoid tax. I'm not commenting on whether this is right or wrong.

If this is all it is - basically a loan-based scheme - it will almost certainly not be effective for tax purposes. It sounds like a very simple and actually quite old idea that has been around for a long time, and I thought that HMRC had effectively squashed them.

Either there's rather more to this than the papers have reported, or else I think some people are likely to get a large tax bill.
The Leopard is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
jimmy strategy lekimphuongminh Forex 44 Aug 30, 2013 3:00am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)