parsforlife Posted June 4, 2020 Share Posted June 4, 2020 I’m sure he’ll have his ways of reducing his tax liability here. 0 Quote Link to comment Share on other sites More sharing options...
Stag Nation Posted June 4, 2020 Share Posted June 4, 2020 24 minutes ago, cmontheloknow said: Can Anderson etc just give that level of cash away without it being taxed? What tax did you have in mind? The clubs will treat it as they would any other income, and they will have to pay corporation tax on any profit at year end. Probably the least of their worries in the present circs. 0 Quote Link to comment Share on other sites More sharing options...
cmontheloknow Posted June 4, 2020 Share Posted June 4, 2020 20 minutes ago, Stag Nation said: What tax did you have in mind? The clubs will treat it as they would any other income, and they will have to pay corporation tax on any profit at year end. Probably the least of their worries in the present circs. Was a question of can you just give that amount of money away, no strings attached? 0 Quote Link to comment Share on other sites More sharing options...
parsforlife Posted June 4, 2020 Share Posted June 4, 2020 Think he means tax by Anderson. Normally any any ‘weather benefactor’ will put funds in via there company in return for sponsorship or hospitality etc. It means the club get say a million but it actually only costs the individual far less. 0 Quote Link to comment Share on other sites More sharing options...
Stag Nation Posted June 4, 2020 Share Posted June 4, 2020 7 minutes ago, cmontheloknow said: Was a question of can you just give that amount of money away, no strings attached? Generally we get taxed on the money we receive, not what we give away. Don't give the Chancellor any ideas! -1 Quote Link to comment Share on other sites More sharing options...
Spikethedee Posted June 4, 2020 Share Posted June 4, 2020 From what I can remember, you can give any amount of money you like to anyone you want, but if you die within 3 (maybe 5, can't remember off the top of my head) years, then it is classed as part of your estate and subject to tax etc that way (if applicable)... 0 Quote Link to comment Share on other sites More sharing options...
Rob1885 Posted June 4, 2020 Share Posted June 4, 2020 From what I can remember, you can give any amount of money you like to anyone you want, but if you die within 3 (maybe 5, can't remember off the top of my head) years, then it is classed as part of your estate and subject to tax etc that way (if applicable)...its upto 7 years n Scotland and its staggered between the number of years between death and when the gift is given.for example, more tax is due on a payment made a couple of months prior to death than a payment made 5 years before. 0 Quote Link to comment Share on other sites More sharing options...
DA Baracus Posted June 4, 2020 Share Posted June 4, 2020 Starting to 'suspect' that this cash will never actually happen 0 Quote Link to comment Share on other sites More sharing options...
Pull My Strings Posted June 4, 2020 Share Posted June 4, 2020 (edited) 4 hours ago, cmontheloknow said: Was a question of can you just give that amount of money away, no strings attached? It'll be a potentially exempt transfer for IHT purposes so if he dies within the next 7 years then part of the sum will be taken into account in determining IHT liability - if it's his own money. That aside, there aren't tax implications for giving money away. Edit: I see it's been addressed already. ^^ Edited June 4, 2020 by Pull My Strings 0 Quote Link to comment Share on other sites More sharing options...
craigkillie Posted June 5, 2020 Share Posted June 5, 2020 9 hours ago, parsforlife said: Think he means tax by Anderson. Normally any any ‘weather benefactor’ will put funds in via there company in return for sponsorship or hospitality etc. It means the club get say a million but it actually only costs the individual far less. It would be fairly straightforward for him to sponsor the league in some manner or other using this money, but for the SPFL to pass a resolution altering the prize money structure to ensure that his contribution was evenly split across the clubs. 0 Quote Link to comment Share on other sites More sharing options...
Spikethedee Posted June 5, 2020 Share Posted June 5, 2020 16 hours ago, Rob1885 said: its upto 7 years n Scotland and its staggered between the number of years between death and when the gift is given. for example, more tax is due on a payment made a couple of months prior to death than a payment made 5 years before. Thank you, I was just about to log off when I read the original post and couldn't be arsed didn't have the time to look it up. 0 Quote Link to comment Share on other sites More sharing options...
North Terrace Gazza Posted June 5, 2020 Share Posted June 5, 2020 The latest suggestion from Rangers. What a pile of craphttps://www.bbc.co.uk/sport/football/52941423 2 Quote Link to comment Share on other sites More sharing options...
itzdrk Posted June 5, 2020 Share Posted June 5, 2020 Could see myself just being done with it if that went through. 3 Quote Link to comment Share on other sites More sharing options...
parsforlife Posted June 5, 2020 Share Posted June 5, 2020 Wish we could just skip this BS and for hearts to get doon and carry on as normal 1 Quote Link to comment Share on other sites More sharing options...
AUFC 1910 Posted June 5, 2020 Share Posted June 5, 2020 The latest suggestion from Rangers. What a pile of craphttps://www.bbc.co.uk/sport/football/52941423FFSWill the last person out, switch the light off please.Why don’t we just save all of this nonsense.Rangers and Celtic play in a 2 team top flight, while everyone else gets down on their knees and prays towards them, honouring them like the gods that they are.Anyone for cricket? 6 Quote Link to comment Share on other sites More sharing options...
Trogdor Posted June 5, 2020 Share Posted June 5, 2020 48 minutes ago, North Terrace Gazza said: The latest suggestion from Rangers. What a pile of crap https://www.bbc.co.uk/sport/football/52941423 That can get in the fucking sea! 2 Quote Link to comment Share on other sites More sharing options...
Tutankhamen Posted June 5, 2020 Share Posted June 5, 2020 4 minutes ago, Trogdor said: That can get in the fucking sea! Money money money........... -2 Quote Link to comment Share on other sites More sharing options...
weeredbook Posted June 5, 2020 Share Posted June 5, 2020 23 minutes ago, itzdrk said: Could see myself just being done with it if that went through. You and many ,many ,many more . 2 Quote Link to comment Share on other sites More sharing options...
Tutankhamen Posted June 5, 2020 Share Posted June 5, 2020 25 minutes ago, itzdrk said: Could see myself just being done with it if that went through. Bye -3 Quote Link to comment Share on other sites More sharing options...
Tutankhamen Posted June 5, 2020 Share Posted June 5, 2020 1 minute ago, weeredbook said: You and many ,many ,many more . The whole 50? -3 Quote Link to comment Share on other sites More sharing options...
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