Should Bernie be allowed to ‘walk’?

Page may contain affiliate links. Please see terms for details.
It's a win that the money has been recovered.

Would he have been smarter to move outside of the UK and avoiding UK taxation almost entirely, like most successful businessmen? Certainly.

Instead of worrying about Bernie, worry about how we can get smart Brits to pay taxes in the UK, rather than running off to the EU, the States and various places in between.

It wouldn't be so dreadful to have successful Motor manufacturing, information technology, media, venture capital, or even retail entrepreneurs choosing to live in the UK once again. (Even if they will end up buying even more of those ruddy farms.)
 
Out of the £653 m,
They should take the full cost for his incarceration for 7 years. (even if he only does 50%). And give it to the prison service.

As for “nothing to be achieved locking up a 92year old“, it’s called JUSTICE.
It serves as a deterrent.

If a 92 year old defrauded you directly, or your family, would you say never mind?

what if it’s a 92year old drug baron?

a 92yr old paedo?

a 92yr old murderer?

Did he give a flying fig to the people of this country, care about what that money could do to help the lives of others?

Hes probably laughing his head off quaffing a glass of Krug.
If I were a judge I'd be really hard on criminals. I'm in a minority but believe in the death penalty.
But in Ecclestone's case, I wouldn't send a 92 year old man in poor health to prison for tax evasion. Murderer, paedo, drug baron, , yes to all of them, but not defrauding the Inland revenue.

He pled guilty, paid his fine and is on a 2 year suspended sentence as well.
His tax affairs will be scrutinised like no other. I'm sure he has learned a lesson.
I'm certain he is smiling. He got away with a jail sentence.

And I don't even like the guy.
 
We wouldn’t have enough room to lock up all tax avoiders. The penalties are quite harsh with fines and interest charges but perhaps imposing a higher tax rate ,say 50/60%, for a few years might be a suitable punishment
Anyone earning £100-£125k at the moment
is paying 60% income tax,
plus 2% National Insurance at the margin,
plus 9% of income as Student loan repayment (until fully repaid)
plus 13.8% employer National insurance.

Once they go above £125k, then they're only
paying just 45% income tax
plus 2% National Insurance at the margin,
plus 9% of income as Student loan repayment (until fully repaid)
plus 13.8% employer National insurance.

Numbers might be out, slightly - I'm out of touch with the repayment rates but you can see my general point.

Bear in mind that "we," the taxpayers, currently charge graduates an interest rate of 7.3% on their student loans, so many men, and most women, are staring at a lifetime of ever increasing student debt which they will never be able to repay, even if it is "forgiven" much further down the line.
 
Last edited:
It’s not that complex.
You are honest or a criminal
Well I'm a criminal! I distinctly remember running into a 30 zone at 32mph just last week.
My brother in law is barrister, and one of the smartest guys I know.
If the law is so simple how come the law books are so thick and so many very clever and very well paid people are needed to even get close to getting their arms around it?
 
Tax in the uk sucks, you should only pay tax on your basic wage, any overtime you do should not be taxed and any employers that come up with “clever” pay schemes should get penalised for circumnavigating the system, i can fully understand why he did what he did, he obviously worked for his money and didnt want it taken away to pay for folks who dont want to work, meetings to plan meetings and nonesense government plans and ideas that the majority of the population dont want
 
  • Like
Reactions: m80
Unlike the US, we don't have plea bargains over here. A criminal can expect an unspecified 'discount' if they enter a guilty plea at the earliest opportunity, but that's about it

Except... that this isn't entirely true. For tax-related offences, we actually do have an unofficial de-facto plea bargaining system.

The idea is that tax trials can be long and complicated and it's nigh-on impossible to find a jury that can understand the issues.

For this reason, the defendant's legal team can agree a plea deal with the prosecution, and while it's not legally binding, judges respect it because they know that the alternative is them trying to explain complex tax issues to 12 laymen, not an easy task.

And so that's what (most likely) happened in BE's case.
My understanding is that Bernie turned himself in to the HMRC having “misdeclared” many years earlier. Tax law is so complex even the HMRC don’t understand it any more, even more complex when monies are earned and held globally

now, will Bernie be suing his accountant/advisors? Just seen that KPMG have been fined millions for poor auditing of Carillion accounts
 
My understanding is that Bernie turned himself in to the HMRC having “misdeclared” many years earlier. Tax law is so complex even the HMRC don’t understand it any more, even more complex when monies are earned and held globally

now, will Bernie be suing his accountant/advisors? Just seen that KPMG have been fined millions for poor auditing of Carillion accounts

I wish him a long life, but at 93, in all probability he won't survive to see the outcome of a lengthy civil lawsuit against his accountants' professional indemnity insurers.
 
Well I'm a criminal! I distinctly remember running into a 30 zone at 32mph just last week.
My brother in law is barrister, and one of the smartest guys I know.
If the law is so simple how come the law books are so thick and so many very clever and very well paid people are needed to even get close to getting their arms around it?
I don’t think it counts if you’re running, only if you’re driving 😁
 
Tax in the uk sucks, you should only pay tax on your basic wage, any overtime you do should not be taxed
That almost certainly wouldn’t mean that you would pay less tax, you would just pay a higher tax rate on your basic wage and end up paying around the same.

Unfortunately it would never work because everyone would switch to 1 hour contracts so that the other 39 or more hours they might work in a week are all overtime.
 
I think I missed summat.

Ecclestone kept £400m hidden. That would be taxed on any element of profit, less any ££'s he might have paid on that profit in Singapore.
So how much tax did he attempt to dodge?

So he has paid £652m to the treasury.

It looks to me as though his fine and penalties are far greater than £252m.

He could have been jailed until dead, and that would stop him trying that again.
But if he seriously thought that was going to be the outcome I guess he would be in Ecuador by now.

It would be interesting to understand just how much he has paid over and above what he would have paid. But even at £252m I perceive a fair deterrent for others thinking of the same.
I wonder how many well heeled politicians, and ex PM's might be seeking additional advice right now.

Unless I missed summat.
 
And here sits "Little Old Me" if I Fart the Tax Man drops my Tax Code! :wallbash: :wallbash: :wallbash: :oops:🫣
You need a dog.

As they say, 'why have a dog and fart yourself'.

And it can be claimed as necessary security to guard your assets.
 
If a 92 year old defrauded you directly, or your family, would you say never mind?
He kinda did......that unpaid tax would be millions....which directly/indirectly affects everyone. Pay a lot of nurses with that.
 

Users who are viewing this thread

Back
Top Bottom