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More Chelsea

Not surprising

you will get the Chelsea fans saying but despite 'the tax avoidance, links to putin, the illegal payments to agents, yacht tax scam' - he was a great owner lol.

Chickens always come home to roost eventually, he made himself an easy target for the UK government albeit most rich people are probably doing some sort of tax avoidance scheme - but in a time when funds are so dry elsewhere in the country, 500mill-1bill in unpaid is not a good look.

90% of football fans knew at the time he started splurging money in 2003/2004 that it wasnt a good thing for the game, completely changed the transfer market all whilst letting a shady oligarch into English Football
 
Teddy Eagle said:
A bit too complicated for me but this doesn't look good for their ex-owner.

www.bbc.com

Roman Abramovich could owe UK £1bn in unpaid tax

Scheme to avoid tax on offshore billions may have been botched because money was managed from the UK, BBC learns.
www.bbc.com www.bbc.com
Click to expand...
Hardly a surprise, however the chances of the UK recovering any unpaid tax are about the same as Palace wining the Champions League in the next 5 years.
 
Same as the one the bbc ran y/day about him leasing all his vessels out & using the BVI as their base, for tax reasons. All to do with Cyprus apparently & the bbc & it's 'media partners' it likes to mention in full at every opportunity. Who cares.
 
Teddy Eagle said:
A bit too complicated for me but this doesn't look good for their ex-owner.

www.bbc.com

Roman Abramovich could owe UK £1bn in unpaid tax

Scheme to avoid tax on offshore billions may have been botched because money was managed from the UK, BBC learns.
www.bbc.com www.bbc.com
Click to expand...

A lot of this stuff sounds more complex than it really is. When you set up companies (or hedge funds in this case) you are setting up a new and distinct legal entity. So if the entity is based outside the UK then in theory it should fall outside the scope of UK tax because it is not UK resident.

However, sometimes people do this purely for the purposes of avoiding tax and there are "anti avoidance" laws in place to stop artificial tax dodging.

One anti avoidance measure involves a "management and control" test. In other words, if you have an overseas company but really the commercial decisions are being made from the UK, then for all intents and purposes it is managed and controlled from the UK.

So it can be treated as UK resident and subject to UK corporation tax (maybe other taxes depending on the legal entity and ownership structure).

It seems this is what is going on here from the article. Ultimately a legal issue to be adjudicated by the courts.
 
Wow, one billion smackers coming the British public's way! Can't wait to see the improvements to our schools, library's and infrastructure!
 
Last edited:
Spindle said:
Still a corrupt, crooked and fraudulent club.

www.bbc.co.uk

Chelsea report pre-tax £128.4m profit after sale of women's team

Chelsea report a £128.4m profit in their latest financial results for the year ending June 2024, having sold their women's team to a parent company.
www.bbc.co.uk www.bbc.co.uk


Financial doping, along with the "hotel sale" just moving money and calling it profit. How is it even allowed? CHEATS.
Click to expand...
Interesting events yesterday.

The founder of Reddit has bought a 10% share of Chelsea Women for £20m which means he values the female club at £200m.

My first thought was what an idiot there is no way that the club is worth £20m let alone £200m.

But then my nasty suspicious side took over. Chelsea are already being investigated over the sale as many suspect this is just fixing the books, so having an outsider buy shares which make Chelsea's value will strengthen their argument that the club is indeed worth £200m.

Of course if the founder of Reddit has connections to the Chelsea owners one might suspect that this is a you scratch my back I'll scratch yours kinda of deal. Will money somehow magically makes it way back to the Reddit owner?

So watch this space I guess.
 
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