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Frankie Detorri
Gisappointed
Posts: 985
Filing for bankruptcy. HTF?
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Yeah…..I just heard this, how is this possible?????0
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Problems with HMRC0
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It seems he was embroiled in Employee Benefit Trusts which presumably arent designed to save tax for millionaire jockeys.0
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From December:
https://www.churchilltaxation.co.uk/frankie-dettori-loses-bid-for-anonymity-in-tax-dispute/
Assume it's all related.
I would also assume he's not filing for bankruptcy in the US as well....1 -
Probably got a huge tax bill at the end of the financial year that he can't afford.0
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And yet somehow he will not be homeless or need to live like a mere mortal.I never really understand how celebrities appear to bounce back from these scenarios beyond what they will earn in the future.I assume it’s a means to an end to resolve the issue with HMRC and move forward.3
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he's only worth about £18million at the last count3
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Absolute crook4
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Not just celebrities. I bet Frederick Barclay isn’t living in a bed sit either…valleynick66 said:And yet somehow he will not be homeless or need to live like a mere mortal.I never really understand how celebrities appear to bounce back from these scenarios beyond what they will earn in the future.I assume it’s a means to an end to resolve the issue with HMRC and move forward.2 - Sponsored links:
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Sounds like a good way to avoid paying tax. Seems that some jockeys (e.g. Lester Piggott) have an aversion to paying tax. Perhaps Franco should stay in the USA0
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This really is a disgrace
Frankie Dettori bankruptcy: Veteran jockey 'embarrassed' after filing for bankruptcy - BBC Sport0 -
Greed, pure and simple.He made large “tax deductible” payments to a trust for 5 years (2012/17). The trust then paid him back large “non-taxable” payments back to him. There was no trade purpose at all, pure tax avoidance.Seems that he was using a “scheme” devised by Paul Baxendale-Walker, a bankrupt, struck-off solicitor and “porn movie director, with a past fraud conviction. This is the same fella who devised the “Employee Benefit Trust” scheme that Rangers got into trouble for using.4
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https://x.com/DanNeidle/status/1900494272786305314
Provides background - though I really don't feel sorry for him.1 -
sorry for him ?? .. he's proved to be a greedy, arrogant, tax avoiding hypocrite .. shame he won't do a few weeks in the slammer like LesterNorth Lower Neil said:https://x.com/DanNeidle/status/1900494272786305314
Provides background - though I really don't feel sorry for him.1 -
Porn director? Perhaps this is where Frankie learnt the flying dismount.TelMc32 said:Greed, pure and simple.He made large “tax deductible” payments to a trust for 5 years (2012/17). The trust then paid him back large “non-taxable” payments back to him. There was no trade purpose at all, pure tax avoidance.Seems that he was using a “scheme” devised by Paul Baxendale-Walker, a bankrupt, struck-off solicitor and “porn movie director, with a past fraud conviction. This is the same fella who devised the “Employee Benefit Trust” scheme that Rangers got into trouble for using.3 -
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Maybe he could get Chris Farnell to act on behalf of the defence3
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Heard a few stories that he is a nasty piece of work ie they witnessed it.
Such as punching horses, treating stable boys like shit, and clicking his fingers when he needs attention. And worse than that.2 -
I wonder how many of his assets have vanished since the HMRC got interested.
Rich people not paying their share. Who'd 'a thought it?4 - Sponsored links:
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The Italian (gets off a) Stallion 🐴guinnessaddick said:
Porn director? Perhaps this is where Frankie learnt the flying dismount.TelMc32 said:Greed, pure and simple.He made large “tax deductible” payments to a trust for 5 years (2012/17). The trust then paid him back large “non-taxable” payments back to him. There was no trade purpose at all, pure tax avoidance.Seems that he was using a “scheme” devised by Paul Baxendale-Walker, a bankrupt, struck-off solicitor and “porn movie director, with a past fraud conviction. This is the same fella who devised the “Employee Benefit Trust” scheme that Rangers got into trouble for using.1 -
Cocaine is also an expensive drug3
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Can leave people out of work for a while0
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Sort of character we need running our club!!!TelMc32 said:Greed, pure and simple.He made large “tax deductible” payments to a trust for 5 years (2012/17). The trust then paid him back large “non-taxable” payments back to him. There was no trade purpose at all, pure tax avoidance.Seems that he was using a “scheme” devised by Paul Baxendale-Walker, a bankrupt, struck-off solicitor and “porn movie director, with a past fraud conviction. This is the same fella who devised the “Employee Benefit Trust” scheme that Rangers got into trouble for using.0 -
Reminds me of the arrogance of Lester Piggott who, after an investigation from HMRC, was found guilty of failing to disclose £1.36m of riding income and another £1.0m from bloodstock operations. His fortune at the time was estimated to be worth roughly £20m. The Revenue informed him that, providing he had finally told the truth and disclosed all his assets and income all that would happen at that point is that he would have to pay all outstanding taxes plus interest and a fine. So he gave them a cheque to cover all of that from an account that he hadn't declared. He did not have to pass go on his way to jail.
Piggott’s conviction and jail term prompted a rush of tax disclosures from the racing industry, with a procession of jockeys revealing undeclared income. It seems that Dettori never received the message that earning a shedload of money does not entitle you to avoid paying your dues.0 -
Once tried to talk to lester and willie Carson at Newbury races with my two kids who were about 5 or 6 when they were on the way to the parade ring. They both ignored us.
Alan Munro saw what happened and held both my kids hands till he got to the parade ring. He gestured to me they wee not nice people.
Munro is a top guy in my view and proved it doesnt take much.3 -
Small Bloke Syndrome.Chippycafc said:Once tried to talk to lester and willie Carson at Newbury races with my two kids who were about 5 or 6 when they were on the way to the parade ring. They both ignored us.
Alan Munro saw what happened and held both my kids hands till he got to the parade ring. He gestured to me they wee not nice people.
Munro is a top guy in my view and proved it doesnt take much.
A lot of small blokes seem to feel the need to compensate for their lack of height by being complete ****s. In the world of Jockeys I would imagine the **** ratio is off the charts!2 -
Dettori has already had many run-ins with the taxman, trust me.Addick Addict said:Reminds me of the arrogance of Lester Piggott who, after an investigation from HMRC, was found guilty of failing to disclose £1.36m of riding income and another £1.0m from bloodstock operations. His fortune at the time was estimated to be worth roughly £20m. The Revenue informed him that, providing he had finally told the truth and disclosed all his assets and income all that would happen at that point is that he would have to pay all outstanding taxes plus interest and a fine. So he gave them a cheque to cover all of that from an account that he hadn't declared. He did not have to pass go on his way to jail.
Piggott’s conviction and jail term prompted a rush of tax disclosures from the racing industry, with a procession of jockeys revealing undeclared income. It seems that Dettori never received the message that earning a shedload of money does not entitle you to avoid paying your dues.
Bloke just doesn't like paying his way. And then doesn't pay his bills.
Someone i know used to do work for him on a professional basis and used to refer to him as "the Little Shit". Absolute wrong un.3
