Well yes Sir Simon

To add irony to injury, those who seem most obsessed with avoiding tax are, after financiers, people in the arts and sport

Those are the three groups that have high incomes. Thus any study of those trying to dodge taxes on high incomes will find members of those three groups.

This just isn\’t rocket science.

6 thoughts on “Well yes Sir Simon”

  1. Worth looking at the financial arrangements of campaigning journalists? In the interest of fairness and equity, let’s pull back the shroud on the Scott Trust too.

  2. So Much For Subtlety

    They are also people with unreliable high incomes. A singer like Adele will make lots of money this year but she may be forgotten next year. Over her life time she may make a lot less money than, say, a plumber. But as these people earn a lot in a short time, they will pay much higher rates of tax even if they go on to earn very little for the rest of their lives.

    Financiers burn out. Artists can never be sure they will be working next year. Sports people grow up and no longer play competitively. All of this may be obvious to them but not to the tax man and hence the need to conserve the money they are making while they still can. At least if they have any brains. Otherwise they will be working packing bags in Tesco like one English cricketer I saw on TV the other day.

  3. Why should it be ironic? Does he think that the reflexively left-wing statements routinely trotted out by ‘artists’ are actually sincere? Fuck me.

  4. What SMFS said. If you’ve probably only got a few years of high earning potential, you need to salt away as much as possible.

  5. “let’s pull back the shroud on the Scott Trust too”: I take it that you mean the Scott Trust Ltd?

  6. Agree with the above. I was involved in the design and pricing of an offshore investment product (and I’m not ashamed of it) that was almost exclusively marketed to and bought by Premiership footballers. They were each pumping tens of k’s in per month.

    I once spoke to one of their financial advisers. He said that part of his advice involves explaining, as pointed out above, that a footballer is one tackle away from the dole queue and that £1m is a lot over one year but not that much spread over a lifetime.

    He also said that almost all of them understood this and, despite the ‘thicko’ label, they mostly knew to look after their cash. The conspicuous consumption is just them using their pocket money in a very expensive sweet shop.

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