Hamilton accused of tax avoidance

The place for speaking your mind on current goings-on in F1
Post Reply
User avatar
Londoner
Posts: 6423
Joined: 17 Jun 2010, 18:21
Location: Norwich, UK
Contact:

Hamilton accused of tax avoidance

Post by Londoner »

Fetzie on Ferrari wrote:How does a driver hurtling around a race track while they're sous-viding in their overalls have a better understanding of the race than a team of strategy engineers in an air-conditioned room?l
User avatar
mario
Posts: 8090
Joined: 31 Oct 2009, 17:13

Re: Hamilton accused of tax avoidance

Post by mario »


Whilst it is a serious allegation, I have to wonder whether anything will come out of it given that little seems to have happened after the earlier "Panama Papers" leak.

After all, there were questions raised about Nico Rosberg's financial arrangements after it transpired that he'd set up holding companies in the Channel Islands and in Panama to process his salary, but as far as I am aware nothing came out of that.

I can't help but feel that there will be an initial fuss made over this to act as a warning and to make it look as if they are taking it seriously, but once the initial interest has died down and the press have moved elsewhere, then Hamilton and the HMRC will come to some sort of private agreement and the whole affair will be forgotten.
Martin Brundle, on watching a replay of Grosjean spinning:
"The problem with Grosjean is that he want to take a look back at the corner he's just exited"
User avatar
Barbazza
Posts: 1636
Joined: 30 Mar 2009, 19:30

Re: Hamilton accused of tax avoidance

Post by Barbazza »

I'll be quite honest here and say that I couldn't really give a fig about any of this stuff. There always has been tax avoidance, there always will be, and as long as it's not evasion (which is illegal) it doesn't bother me what people do with their money whether that's The Queen or Joe Bloggs down the road.

The spurious argument of 'Well, we could have that money in hospitals, schools etc. etc.' just doesn't wash with me as you could say that about ANYTHING: Lewis's salary, the HS2 project fund, my potential bonus for hard work. Take your pick.
User avatar
BabyG
Posts: 67
Joined: 28 Mar 2009, 16:43

Re: Hamilton accused of tax avoidance

Post by BabyG »

Please don't be horrible to Lewis. He doesn't avoid tax, he only evades tax. No. wait it's the other way round…
User avatar
Bobby Doorknobs
Posts: 4059
Joined: 30 Jul 2014, 17:52
Location: In a safe place.

Re: Hamilton accused of tax avoidance

Post by Bobby Doorknobs »

BabyG wrote:Please don't be horrible to Lewis. He doesn't avoid tax, he only evades tax. No. wait it's the other way round…

https://www.youtube.com/watch?v=wpEaFmK3lrY
#FreeGonzo
User avatar
WeirdKerr
Posts: 1864
Joined: 05 Apr 2009, 15:57
Location: on the edge of nowhere with a ludicrous grid penalty.....

Re: Hamilton accused of tax avoidance

Post by WeirdKerr »

not surprised.... :facepalm:
User avatar
mario
Posts: 8090
Joined: 31 Oct 2009, 17:13

Re: Hamilton accused of tax avoidance

Post by mario »

BabyG wrote:Please don't be horrible to Lewis. He doesn't avoid tax, he only evades tax. No. wait it's the other way round…

It'd probably be quicker to find a championship winning driver who didn't avoid tax though - from what I can tell, every single driver who has won the title since 1985 has been a tax exile (though Alonso does seem to have moved back to Spain recently), and indeed the vast bulk of the drivers who have been champions over the years, from whatever nation they originated from, spent at least some of their time in places like Jersey or Switzerland.

I wonder if there is the possibility of seeing Mansell and Button crop up amongst those papers given their residency in the Channel Islands. Mansell is, I believe, still officially resident in Jersey, whilst Button initially moved to Jersey before his later move to Monaco.
Martin Brundle, on watching a replay of Grosjean spinning:
"The problem with Grosjean is that he want to take a look back at the corner he's just exited"
User avatar
dr-baker
Posts: 15426
Joined: 29 Mar 2009, 17:30
Location: Here and there.

Re: Hamilton accused of tax avoidance

Post by dr-baker »

One FIA world champion that this will not affect of course is Andy Priaulx, and presumably won't affect Charles Leclerc, Olivier Beretta, etc.
watka wrote:I find it amusing that whilst you're one of the more openly Christian guys here, you are still first and foremost associated with an eye for the ladies!
dinizintheoven wrote:GOOD CHRISTIANS do not go to jail. EVERYONE ON FORMULA ONE REJECTS should be in jail.
MCard LOLA
User avatar
Wallio
Site Donor
Site Donor
Posts: 2624
Joined: 22 Feb 2012, 22:54
Location: The Wyoming Valley, PA

Re: Hamilton accused of tax avoidance

Post by Wallio »

I can't stand Hammy but seriously, this is weak. All drivers do this. That's why they all "live" in Monaco.
Professional Historian/Retired Drag Racer/Whiskey Enthusiast

"He makes the move on the outside, and knowing George as we do, he's probably on the radio right now telling the team how great he is." - James Hinchcliffe on George Russell
User avatar
Nuppiz
Site Donor
Site Donor
Posts: 5922
Joined: 30 Mar 2009, 12:10
Location: Vantaa, Finland
Contact:

Re: Hamilton accused of tax avoidance

Post by Nuppiz »

Wallio wrote:I can't stand Hammy but seriously, this is weak. All drivers do this. That's why they all "live" in Monaco.

True. But it's one thing to avoid income taxes by "living" in a country that has low or non-existent taxation, and completely another to have complex schemes set up to avoid paying taxes for pretty much everything.

Personally I find such practice disgusting, but frankly not surprising. It seems that the richer people (and businesses) get, the less they want to pay taxes. To a point where entities earning tens of millions a year pay less taxes than Average Joe, thanks to clever "tax planning".
Eurosport broadcast for the 1990 Mexican GP prequalifying:
"The Life, it looked very lifeless yet again... in fact Bruno did one, slow lap"
User avatar
Wallio
Site Donor
Site Donor
Posts: 2624
Joined: 22 Feb 2012, 22:54
Location: The Wyoming Valley, PA

Re: Hamilton accused of tax avoidance

Post by Wallio »

Nuppiz wrote:Personally I find such practice disgusting, but frankly not surprising. It seems that the richer people (and businesses) get, the less they want to pay taxes. To a point where entities earning tens of millions a year pay less taxes than Average Joe, thanks to clever "tax planning".


Well I certainly can agree with that, but I feel its not really a knock on the person. If the system allows it, one would be stupid not to do it. Now if we want to talk of changing the system....
Professional Historian/Retired Drag Racer/Whiskey Enthusiast

"He makes the move on the outside, and knowing George as we do, he's probably on the radio right now telling the team how great he is." - James Hinchcliffe on George Russell
User avatar
Collieafc
Posts: 1358
Joined: 23 Oct 2009, 23:22
Location: Aberdeen, Scotland

Re: Hamilton accused of tax avoidance

Post by Collieafc »

The one upside is I will now go to sleep tonight smiling in the knowledge that BBCs Andrew Benson will be in a knot with the idea that his beloved Hamilton will be (temporarily) villified by the press

But its nothing new - Formula 1 drivers have been at tax planning since the 60s if not 70s
DanielPT wrote:Life usually expires after 400 meters and always before reaching 2 laps or so. In essence, Life is short.
User avatar
AndreaModa
Posts: 5806
Joined: 30 Mar 2009, 17:51
Location: Bristol, UK

Re: Hamilton accused of tax avoidance

Post by AndreaModa »

And Hamilton will have an entire team of suits doing all this for him. His knowledge of the whole thing will be limited at best. It's hardly like he's sat there planning this stuff out is it.

Also, for anyone abhorred by all this, just think that if you've ever paid cash in hand for a job on your house or whatever, then you've avoided tax too. We're all at it to a greater or lesser extent.
I want my MTV...Simtek Ford

My Motorsport Photos

@DNPQ_
Faustus
Site Donor
Site Donor
Posts: 2073
Joined: 30 Mar 2009, 20:23
Location: UK

Re: Hamilton accused of tax avoidance

Post by Faustus »

Unfortunately tax avoidance is legal, while evasion is a crime. The current UK tax law is far too lax so it allows for several means of avoiding tax for those are willing and can afford to exploit them.
Following Formula 1 since 1984.
Avid collector of Formula 1 season guides and reviews.
Collector of reject merchandise and 1/43rd scale reject model cars.
Post Reply