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Former Footballers Lose 100Million On Property And Film Investments

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A fool and their money...

Property and film would both be tax dodges.

I'm the first to try and avoid tax from my investments but in a way I see it as a good problem because it means I'm actually making sustainable passive income.

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The only sensible way of investing in films is to buy shares in one of the big entertainment corporations.

There was a list published a few years back of apparently hugely successful films which have never made a profit. They have never made a profit because the studios continue to allocate vast amounts of their overheads to them to avoid paying out to actors and suchlike with a profit-share agreement.

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Oh look, I don't seem to care

I'd agree with that. It's a bit sad but these days my focus is 100% on the welfare of my family and close friends. The spirit of community is long gone in London. I do hope a move to The Shires or abroad might reinvigorate that as I genuinely once did care about the betterment of the community/country.

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this story has been running in some form or other for a few years now. footballers seem to take advice from some fairly unscrupulous people.

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I'd agree with that. It's a bit sad but these days my focus is 100% on the welfare of my family and close friends. The spirit of community is long gone in London. I do hope a move to The Shires or abroad might reinvigorate that as I genuinely once did care about the betterment of the community/country.

The UK is very much dog eat dog, selfishness abounds, especially in the south. This is clearly seen in house prices more than anything.

A major reason for me living on the continent.

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this story has been running in some form or other for a few years now. footballers seem to take advice from some fairly unscrupulous people.

I look at my payslip every month and shake my head at the amount of tax I pay. I can only imagine how much they pay and what they think.

I'm under the radar and so don't get the calls. They're in the public eye so I can only imagine how many calls they get from 'experts' offering to help them with their tax problems. That combined with them not seeming to be the sharpest knives in the draw has disaster written all over it.

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The UK is very much dog eat dog, selfishness abounds, especially in the south. This is clearly seen in house prices more than anything.

A major reason for me living on the continent.

The question for me though is what about villages in The Shires?

Agree with you re the continent although I'm sure their cities are also dog eat dog. Some of the friendliest and most accommodating people we ever met was on a location research trip to Puglia, Italy. Shame some of the other elements didn't add up for us.

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The question for me though is what about villages in The Shires?

Agree with you re the continent although I'm sure their cities are also dog eat dog. Some of the friendliest and most accommodating people we ever met was on a location research trip to Puglia, Italy. Shame some of the other elements didn't add up for us.

I think you'd have to go to the most Northern Shires you could find. My view of the UK is somewhat tainted, the further away from London and its money and influence you can get the better.

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I think you'd have to go to the most Northern Shires you could find. My view of the UK is somewhat tainted, the further away from London and its money and influence you can get the better.

We're currently considering Herefordshire. Seems to be a beautiful place in parts but because it has no major roads to the bigger cities property (or land) prices while still ridiculous are not as ridiculous as other places. Also not quite as much rain as Wales which is somewhere I would like to be. Far enough north?

Of course will rent first (before ideally building to keep costs lower and get energy etc efficiency) to find the right place for us.

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Obviously no one wants to pay tax, but these schemes were pretty flagrant, so I don't have much sympathy. Agree these players seem to take financial advice from some big mouth they met in the VIP area at their local "Dodgy Geezer's" nightclub, so why be surprised at the result?

No doubt more ex-players will be desperate to appear on TV to give their one dimensional opinions, usually along the lines of "everyone is crap, that would never have happened in my team, when I was a player" (even if they only retired 2 years ago)

Edited by reddog

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Are there any decent council houses around there (wish I could...)?(Hereford shire)

I could do an exchange.....Cambridge is becoming overbuilt .

Sorry, don't know CD. The next stage of our lives are looking like containing a fair bit of solitude and green spaces. We're looking for land of greater than circa 0.5 acre onto which we'd like to build a small oak framed energy efficient home. That means we're looking outside of the towns/villages specifically. It's not an easy search so far but there is no rush as we'll rent first anyway.

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Okay thanks....

The main problem here is lack of parking and the fact that Aldi is on the other side of town! Of course Cambridge is good as far as work is concerned but I`ve no intension of doing any such thing.

Yes Herefordshire is quite something....ridden though by motorbike but never really stopped.

I guess it would take 2 or 3 years to organise a council house exchange but then again I`ve got nothing better to do.....

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this story has been running in some form or other for a few years now. footballers seem to take advice from some fairly unscrupulous people.

Probably Frank? :blink:

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Not surprised by this story. Always thought Kingsbridge typical commission chasers. Put them with greedy b4stards. What do you expect?

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The only sensible way of investing in films is to buy shares in one of the big entertainment corporations.

There was a list published a few years back of apparently hugely successful films which have never made a profit. They have never made a profit because the studios continue to allocate vast amounts of their overheads to them to avoid paying out to actors and suchlike with a profit-share agreement.

Films are a high risk/reward flutter for the rich. Avatar was backed by Ingenious, whose investors got big tax breaks as well as the film's profits. But those investors (unless incredibly lucky) backed their fair share of flops too.

It's available also to those of modest means these days, through crowdfunding. Think of it as a flutter: some people go to the bookies, others back a film. Usual caveats ... money you can afford to lose ...

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A fool and their money...

Property and film would both be tax dodges.

I'm the first to try and avoid tax from my investments but in a way I see it as a good problem because it means I'm actually making sustainable passive income.

how is it a dodge? The government implemented tax rebates for those that invested in films. As far as I can see many of those companies made successful films and were thus real entities doing something, not just setup to dodge tax and make films no-one would ever watch.

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Movie investment is renowned for advertising and taking investment in amazing movies that never happen - some do go ahead of course. No doubt there are tax advantages even if all the investment money is lost. In the meantime the recipients all have a jolly good time using the money pretending to make movies - and all the rest.

Edited by billybong

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