Redknapp and the jury's out (merged) ** NOT GUILTY**

[BensGrandad]

So can we all accept 'gifts' from our employers now? I work on a bonus scheme, can this be declared as a gift for the work i have done?

No because your employers would have to have paid the tax on it as Mandaric, did so I would presume they could offer to pay your tax due and give it to you as a gift, that would be my interpretation of the situation.

 

[Nathan]

My 2 cents are;

1) It is fair to assume that your employer deduct the neccessary taxes before paying you a salary.2) I don't check what bank account my employer use to pay my salary.
3) An off-shore account is not illegal.

With that said, I think that Harry knew what was going on but there is not enough evidence to support a guilty verdict.

It is your own responsibility to check the right tax details. (Was told when i argued the case with the tax office when my employers had the wrong tax code for me).

 

[The Antikythera Mechanism]

I always knew Harry was telling the truth after he said "I'd rather pay too much tax, than too little"

 

[Coleby1007]

I always knew Harry was telling the truth after he said "I'd rather pay too much tax, than too little"

 

[vegster]

I can't even see why this ever got to trial ?..... every time a friend gives me £189,000 i always pop it in to a Monaco bank account and forget about it too

 

[BensGrandad]

That are not the sums involved BG. The 5% reference is the reduction in his part of the payout. This doesn't reflect how much was paid into his foreign account. The tax payable on that would have been closer to £30k. As is now proven, that was an investment account setup by Mandaric, and not cash for Harry

I made the comparison as it was suggested that he had said about not paying 30k tax but was complaining about the reduction in his bonus for the sale of Crouch being reduced from 10% to 5% hence the difference in £30k the tax due on his 'gift' and £400k the difference on his bonus.

 

[Herr Tubthumper]

I can't even see why this ever got to trial ?..... every time a friend gives me £189,000 i always pop it in to a Monaco bank account and forget about it too

Friend? Do you mean employer?

 

[JCL - the new kid in town]

I always knew Harry was telling the truth after he said "I'd rather pay too much tax, than too little"

I don't get that expression, why pay too much or too little, its surely no that complicated to work out how much to pay ajnd to pay the right amount and he'd have accountants to do that. Does he "tip" the tax man or round the bill up?

 

[fly high]

Just been released that Mandaric and Peter Storrie, Portsmouth's former chief executive, were cleared of tax evasion charges at a separate trial last October. Obviously couldn’t be reported at the time because this trial was coming up. Would think that puts a different perspective on things.

 

[cloud]

So can we all accept 'gifts' from our employers now? I work on a bonus scheme, can this be declared as a gift for the work i have done?

Bonuses are taxable, so are some "gifts" (eg accommodation, gym membership, WAG travels with you on business, use of car etc)

Although the employer has to pay the National Insurance on the gift, you have to declare and pay the tax.

 

[cloud]

Friend? Do you mean employer?

Or even pet dog

 

[Herne Hill Seagull]

Was never in doubt really, given the judge's summing up. Bit surprised it took them as long as it did, to be honest.

 

[vegster]

Friend? Do you mean employer?

Ah, a big thing about this was that Harry and Milan were great friends as well as employer/employee ... don't you bung good friends a few grand from time to time ?... you know, if you like them

 

[cloud]

Yes, and you pay the inheritance tax accordingly.

 

[Hamilton]

Can Harry do my tax return?

 

[Hotchilidog]

Just read James pearce's summing up on the BBC website, and he just seems to buy into the why would they bother fiddling such a 'small' amount line. Which seems fairly rich when 90 percent of the country earn less than the alleged amount as an annual salary.

It is still not clear to me and I hope to be enlightened as to

1. Was the money in question liable to UK tax?
2. If so who was responsible for paying that tax?
3. Did that person pay the correct amount of tax?

I am assuming the answer to number one is no rendering the other two moot, or am I being, not the for first time, extraordinarily dim?

 

[Fungus]

Yes, and you pay the inheritance tax accordingly.

Has someone died?

 

[pasty]

Bonuses are taxable, so are some "gifts" (eg accommodation, gym membership, WAG travels with you on business, use of car etc)

Although the employer has to pay the National Insurance on the gift, you have to declare and pay the tax.

Not in all cases I think? My company pay for my annual train season ticket, but I have to pay tax on it as it is a bonus, but the company just informed the tax office and my tax code has been changed accordingly - I had to do nothing

 

[cloud]

Has someone died?

No - but if you are gifting large sums of money to people it's treated like an inheritance (as it's not "earned" income), and you declare it up-front so as to pay less tax on your eventual death.

As I'm sure Harry's accountants will have told him.

 

[cloud]

1. Was the money in question liable to UK tax?
2. If so who was responsible for paying that tax?
3. Did that person pay the correct amount of tax?

1. YES - if you are UK resident (or elect to pay tax in the UK) it covers all your financial affairs worldwide
2. Harry
3. Ask Sepp Blatter