Marcus Rashfords tax affairs

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Marcus Rashfords tax affairs

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cryrst The garden of England 19 Oct 21 8.07pm
Originally posted by Goal Machine I suspect he receives his salary from Man Utd which is subject to PAYE. I suspect for his private business - imagine rights etc is set up as a Limited Company as he pays less tax that way. I don’t know how accurate that £20m charity donation is, but he can (and probably does) claim tax relief on that. If he donates £20m, his basic rate tax band is extended by £20m. You don’t seem to realise that avoiding tax is legal if done through the correct channels. Tax evasion however - i.e not declaring income from a rental property is illegal. He’s doing what all sensible wealthy people do and seeking professional advice to maximise his wealth. But is it fair? I would say no it isn't. Many millions can't.
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cryrst

The garden of England 19 Oct 21 8.07pm

Originally posted by Goal Machine

I suspect he receives his salary from Man Utd which is subject to PAYE. I suspect for his private business - imagine rights etc is set up as a Limited Company as he pays less tax that way.

I don’t know how accurate that £20m charity donation is, but he can (and probably does) claim tax relief on that. If he donates £20m, his basic rate tax band is extended by £20m. You don’t seem to realise that avoiding tax is legal if done through the correct channels. Tax evasion however - i.e not declaring income from a rental property is illegal.

He’s doing what all sensible wealthy people do and seeking professional advice to maximise his wealth.

But is it fair?
I would say no it isn't. Many millions can't.

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Goal Machine The Cronx 19 Oct 21 10.05pm
Originally posted by cryrst But is it fair? I would say no it isn't. Many millions can't. Yes, it is fair because you get tax relief for doing things the government support/encourage. Edited by Goal Machine (19 Oct 2021 10.20pm)
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Goal Machine

The Cronx 19 Oct 21 10.05pm

Originally posted by cryrst

But is it fair?
I would say no it isn't. Many millions can't.

Yes, it is fair because you get tax relief for doing things the government support/encourage.

Edited by Goal Machine (19 Oct 2021 10.20pm)

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BlueJay UK 19 Oct 21 11.25pm
I really don't get the constant focus on the bloke really, considering he at least has, on multiple occasions gone out of his way to champion causes related to poverty and so on. I'm as cynical as the next man but there are plenty of footballers and others doing absolutely nothing, and they're not under anywhere near as much scrutiny. He's not perfect by any means, but we shouldn't let the perfect be the enemy of the good. It will dissuade people from looking to make a difference.
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BlueJay

UK 19 Oct 21 11.25pm

I really don't get the constant focus on the bloke really, considering he at least has, on multiple occasions gone out of his way to champion causes related to poverty and so on. I'm as cynical as the next man but there are plenty of footballers and others doing absolutely nothing, and they're not under anywhere near as much scrutiny. He's not perfect by any means, but we shouldn't let the perfect be the enemy of the good. It will dissuade people from looking to make a difference.

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EverybodyDannsNow SE19 19 Oct 21 11.39pm
Originally posted by BlueJay I really don't get the constant focus on the bloke really, considering he at least has, on multiple occasions gone out of his way to champion causes related to poverty and so on. I'm as cynical as the next man but there are plenty of footballers and others doing absolutely nothing, and they're not under anywhere near as much scrutiny. He's not perfect by any means, but we shouldn't let the perfect be the enemy of the good. It will dissuade people from looking to make a difference. Well put - he’s held to a higher level of scrutiny than our own government.. I wonder why.
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EverybodyDannsNow

SE19 19 Oct 21 11.39pm

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Originally posted by BlueJay

Well put - he’s held to a higher level of scrutiny than our own government.. I wonder why.

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TheBigToePunt 20 Oct 21 8.05pm
Originally posted by Goal Machine I suspect he receives his salary from Man Utd which is subject to PAYE. I suspect for his private business - imagine rights etc is set up as a Limited Company as he pays less tax that way. I don’t know how accurate that £20m charity donation is, but he can (and probably does) claim tax relief on that. If he donates £20m, his basic rate tax band is extended by £20m. You don’t seem to realise that avoiding tax is legal if done through the correct channels. Tax evasion however - i.e not declaring income from a rental property is illegal. He’s doing what all sensible wealthy people do and seeking professional advice to maximise his wealth. I completely understand the difference between tax evasion and avoidance, and that many rich people engage lawfully (though in my opinion, not always morally) in the latter. As I've said a few times now though, Rashford would be a slightly special case if he is actually shielding his wealth from the taxman through his companies, simply because he has pressed (effectively) for greater strain to be placed on the public purse at the same time.
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TheBigToePunt

20 Oct 21 8.05pm

Originally posted by Goal Machine

I suspect he receives his salary from Man Utd which is subject to PAYE. I suspect for his private business - imagine rights etc is set up as a Limited Company as he pays less tax that way.

I don’t know how accurate that £20m charity donation is, but he can (and probably does) claim tax relief on that. If he donates £20m, his basic rate tax band is extended by £20m. You don’t seem to realise that avoiding tax is legal if done through the correct channels. Tax evasion however - i.e not declaring income from a rental property is illegal.

He’s doing what all sensible wealthy people do and seeking professional advice to maximise his wealth.

I completely understand the difference between tax evasion and avoidance, and that many rich people engage lawfully (though in my opinion, not always morally) in the latter.

As I've said a few times now though, Rashford would be a slightly special case if he is actually shielding his wealth from the taxman through his companies, simply because he has pressed (effectively) for greater strain to be placed on the public purse at the same time.

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TheBigToePunt 20 Oct 21 9.10pm
Originally posted by EverybodyDannsNow Well put - he’s held to a higher level of scrutiny than our own government.. I wonder why. As author of the OP I can only explain my own reasons for applying scrutiny. Presuming I've read the inference in your question correctly (and forgive me if I've imagined it) I can confirm that my interest is indeed related to Rashfords race, class and social background. My strongly held view is that none of these things should influence the treatment a person receives in society, but I'm increasingly concerned that they do. Identity Politics is a worry to me, but not nearly as much of a worry as the extent to which media and corporate organisations are tacitly supporting it. If Rashford is shielding part of his considerable personal wealth from tax but receiving only gushing praise where other celebrities and politicians have received criticism for the same thing, it would be naive not to ask if race, class and social background are relevant in that inconsistent approach. If, on the other hand, he's put his money into his companies so that he can develop useful and profitable businesses, and will ultimately pay the same or more in business taxes as he avoided as a private individual, then not only can I think well of Rashford, but I can also rest assured that identity politics hasn't gripped the media and corporate world so fully that they are overlooking the astonishing hypocrisy and naked tax avoidance of a phenomenally wealthy man, simply because of the boxes he happens to tick. Hence the OP. Edited by TheBigToePunt (20 Oct 2021 9.15pm)
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TheBigToePunt

20 Oct 21 9.10pm

Originally posted by EverybodyDannsNow

Well put - he’s held to a higher level of scrutiny than our own government.. I wonder why.

As author of the OP I can only explain my own reasons for applying scrutiny. Presuming I've read the inference in your question correctly (and forgive me if I've imagined it) I can confirm that my interest is indeed related to Rashfords race, class and social background.

My strongly held view is that none of these things should influence the treatment a person receives in society, but I'm increasingly concerned that they do. Identity Politics is a worry to me, but not nearly as much of a worry as the extent to which media and corporate organisations are tacitly supporting it.

If Rashford is shielding part of his considerable personal wealth from tax but receiving only gushing praise where other celebrities and politicians have received criticism for the same thing, it would be naive not to ask if race, class and social background are relevant in that inconsistent approach.

If, on the other hand, he's put his money into his companies so that he can develop useful and profitable businesses, and will ultimately pay the same or more in business taxes as he avoided as a private individual, then not only can I think well of Rashford, but I can also rest assured that identity politics hasn't gripped the media and corporate world so fully that they are overlooking the astonishing hypocrisy and naked tax avoidance of a phenomenally wealthy man, simply because of the boxes he happens to tick.

Hence the OP.

Edited by TheBigToePunt (20 Oct 2021 9.15pm)

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Mapletree Croydon 20 Oct 21 11.51pm
Look up the filing histories for yourself if you care. [Link] Only two of the companies are active. One looks like it’s linked to image rights and one to property but I am not interested enough to look any deeper.
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Mapletree

Croydon 20 Oct 21 11.51pm

Look up the filing histories for yourself if you care.

[Link]

Only two of the companies are active. One looks like it’s linked to image rights and one to property but I am not interested enough to look any deeper.

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HKOwen Hong Kong 21 Oct 21 12.10am
I agree with this. There is of course a hypocrisy involved when those doing this preach politics. A simpler tax system is good for all. Originally posted by Badger11 My response is the same whether it is Rashford, Jimmy Carr or Sir Tufton Bufton Tory MP. Tax avoidance is legal if you don't like it change the tax laws. All he is doing is taking advantage of our increasingly complicated and illogical tax system. The smart thing the government could do is to close all the loopholes whilst reducing the basic rates. Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance.
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HKOwen

Hong Kong 21 Oct 21 12.10am

I agree with this.

There is of course a hypocrisy involved when those doing this preach politics.

A simpler tax system is good for all.

Originally posted by Badger11

My response is the same whether it is Rashford, Jimmy Carr or Sir Tufton Bufton Tory MP.

Tax avoidance is legal if you don't like it change the tax laws. All he is doing is taking advantage of our increasingly complicated and illogical tax system.

The smart thing the government could do is to close all the loopholes whilst reducing the basic rates.

Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance.

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dannyboy1978 21 Oct 21 4.55pm
Originally posted by chris123 They are taxed as employees of their clubs. Not there commercial income though
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dannyboy1978

21 Oct 21 4.55pm

Originally posted by chris123

They are taxed as employees of their clubs.

Not there commercial income though

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croydon proud Any european country i fancy! 09 Nov 21 2.25pm
Marcus was awarded an MBE today, what a fcuking joke!!!!!!!!!!!!!! Only an MBE? It should be . Sir Marcus Rashford !
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croydon proud

Any european country i fancy! 09 Nov 21 2.25pm

Marcus was awarded an MBE today, what a fcuking joke!!!!!!!!!!!!!! Only an MBE? It should be . Sir Marcus Rashford !

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BlueJay UK 09 Nov 21 4.11pm
Originally posted by croydon proud Marcus was awarded an MBE today, what a fcuking joke!!!!!!!!!!!!!! Only an MBE? It should be . Sir Marcus Rashford ! Fair play to him. Some people seem to have a bee in their bonnet about the bloke, but to my mind if someone actually is passionate about making a difference and is rewarded for that attitude good for them. There are hundreds of Premier League footballers who clearly do sod all apart from count their cash so if we're going to criticise anyone, we should start with them.
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BlueJay

UK 09 Nov 21 4.11pm

Originally posted by croydon proud

Marcus was awarded an MBE today, what a fcuking joke!!!!!!!!!!!!!! Only an MBE? It should be . Sir Marcus Rashford !

Fair play to him. Some people seem to have a bee in their bonnet about the bloke, but to my mind if someone actually is passionate about making a difference and is rewarded for that attitude good for them. There are hundreds of Premier League footballers who clearly do sod all apart from count their cash so if we're going to criticise anyone, we should start with them.

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croydon proud Any european country i fancy! 09 Nov 21 6.03pm
Originally posted by BlueJay Fair play to him. Some people seem to have a bee in their bonnet about the bloke, but to my mind if someone actually is passionate about making a difference and is rewarded for that attitude good for them. There are hundreds of Premier League footballers who clearly do sod all apart from count their cash so if we're going to criticise anyone, we should start with them. Yes, top bloke, great example to the youngers to!
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croydon proud

Any european country i fancy! 09 Nov 21 6.03pm

Originally posted by BlueJay

Yes, top bloke, great example to the youngers to!

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