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At what point

https://www.dailyrecord.co.uk/news/scottish-news/scotland-legend-james-mcfadden-battling-12582969

Here is another case of a high level professional footballer potentially becoming bankrupt despite the vast sums of money he has earned throughout a pretty successful playing career.

At what point will the PFA do something to educate younger professionals on the dangers of dealing with advisors and the old "if it sounds to good to be true it usually is" rule.

So many pros especially in Scotland have fallen victim to film schemes etc now the person is ultimately responsible but surely the advisor/accountant/khunt who got them involved in the scheme must face action too.

Is it not simply offering something illegal in return for cash?


posted on 23/5/18

These footballers and other huge earners set up an umbrella comaony which will receive the funds net and then disperse them around other sub companies such as pension funds, consultancies and the likes thereby avoiding taxation at source. Every avenue will be explored by very competent financial advisors and that will include an element of risk investments.

Doesn’t take too many of them to empty the pot whilst advisors take their significant cuts regardless and without risk and the player themselves think eberythjnb else is disposable income which needless to say many of them dispose of quite easily.

There we go.

posted on 23/5/18

comment by Gingernuts (U2992)
posted 7 minutes ago
These footballers and other huge earners set up an umbrella comaony which will receive the funds net and then disperse them around other sub companies such as pension funds, consultancies and the likes thereby avoiding taxation at source. Every avenue will be explored by very competent financial advisors and that will include an element of risk investments.

Doesn’t take too many of them to empty the pot whilst advisors take their significant cuts regardless and without risk and the player themselves think eberythjnb else is disposable income which needless to say many of them dispose of quite easily.

There we go.
----------------------------------------------------------------------
Yes...I just took the easy route. Got a wife and 4 lads...same outcome

posted on 23/5/18

comment by Gingernuts (U2992)
posted 14 minutes ago
These footballers and other huge earners set up an umbrella comaony which will receive the funds net and then disperse them around other sub companies such as pension funds, consultancies and the likes thereby avoiding taxation at source. Every avenue will be explored by very competent financial advisors and that will include an element of risk investments.

Doesn’t take too many of them to empty the pot whilst advisors take their significant cuts regardless and without risk and the player themselves think eberythjnb else is disposable income which needless to say many of them dispose of quite easily.

There we go.
----------------------------------------------------------------------
so the details are in the "eberythjnb"

posted on 23/5/18

comment by Magnum (U16400)
posted 6 minutes ago
comment by Gingernuts (U2992)
posted 7 minutes ago
These footballers and other huge earners set up an umbrella comaony which will receive the funds net and then disperse them around other sub companies such as pension funds, consultancies and the likes thereby avoiding taxation at source. Every avenue will be explored by very competent financial advisors and that will include an element of risk investments.

Doesn’t take too many of them to empty the pot whilst advisors take their significant cuts regardless and without risk and the player themselves think eberythjnb else is disposable income which needless to say many of them dispose of quite easily.

There we go.
----------------------------------------------------------------------
Yes...I just took the easy route. Got a wife and 4 lads...same outcome
----------------------------------------------------------------------

😂

A far simpler route for sure

posted on 23/5/18

Could he not newco ? 🤔

posted on 24/5/18

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comment by Silver (U6112)

posted on 24/5/18

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posted on 24/5/18

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posted on 24/5/18

comment by Zachsda(Scouse inda house) (U1850)
posted 5 minutes ago
I feel a wee bit sorry for the younger royals
I mean William and Harry, not the rest of the hangers in
They were born into this and they really cannot resign
Even if they announced today they were handing their notice in and don’t want another penny they’d still be followed everywhere by paparazzi so they can’t win
At least they get that they need to be seen to contribute to society in some way

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Immediate family and the children of I agree. The rest can extract their money from Queenie as far as I’m concerned and be subject to tax (which can go back to Queenie ). That or they can charge appearance money for shop openings and the like and then let’s see how popular they really are 👍

posted on 24/5/18

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