by 6ft Kerplunk »
08 Feb 2012 20:35
facaldaqui 6ft Kerplunk So just to get this clear for my next tax return. I can just get my employer to put a large amount of money into an overseas account as a gift and I don't have to declare it for tax purposes. Excellent.
This is all very well (and I know you're joking), but the company has to pay tax on its income before it pays you. It would need spare assets abroad--as Mandaric has from selling various businesses--in order to give you gifts: it would have to subsidise its wage bill (gift bill) from overseas capital. Mandaric has plenty of spare money splashing about--capital he's built up in the past. On the face of it, if he wants to give Harry some of that money through banking channels such as those in the tax haven of Monaco, he can do so. But we can all guess that the money must have been related to Harry's performance in Mandaric's employ.
My boss is half Greek and has money over there, he can give me a gift from that so its his personal money not he company's. He can stick the money into my account on my birthday making it look like a present. Thats far more convincing than Redknapp's defence. What I don't understand from the evidence given is that Manaric was supposedly giving the money to Harry as a 'gift' which he would invest on Harry's behalf. How exactly did that money get invested if it never left Redknapp's account?