Jim Davidson Declared Bankrupt!

[RichM]

Oh, how the mighty are fallen. No idea if BTL had anything to do with his downfall.

http://www.telegraph.co.uk/news/main.jhtml.../06/ixnews.html

[cocacolalight]

Oh, how the mighty are fallen. No idea if BTL had anything to do with his downfall.

http://www.telegraph.co.uk/news/main.jhtml.../06/ixnews.html

He lives in luxury in Dubai - hardly "the mighty have fallen".

[Fancypants]

Oh, how the mighty are fallen. No idea if BTL had anything to do with his downfall.

http://www.telegraph.co.uk/news/main.jhtml.../06/ixnews.html

"I don't want the tax man to put me in a position where my career looks as if it is failing, because it isn't."

that's the funniest thing I think I've ever heard him say!

what frightfully delicious karma

[RichM]

He lives in luxury in Dubai - hardly "the mighty have fallen".

I'd rather live in Dagenham than Dubai. He's an exile. Like Ovid.

[Jason]

"I don't want the tax man to put me in a position where my career looks as if it is failing, because it isn't."

that's the funniest thing I think I've ever heard him say!

what frightfully delicious karma

I've seen him in Dick Whittington, he wasn't as funny as that quotation!

[Solvent Celt]

"I am still pretty solvent," he added. "I just can't pay £700,000 right now."

is that some kind of joke?

"Unable to pay debts as and when they fall due" is a pretty good definition of insolvency IMHO.

Jim Jim... none of us likes paying tax but it's a necessity.

I wonder how many baby incubators has Jim robbed the NHS of by failing to pay his tax.

Nick Nick... my mate Chalky etc etc

[gasket37]

I've seen him in Dick Whittington, he wasn't as funny as that quotation!

Jim Davidson "Where is my career?"

The audience (all together) "IT'S BEHIND YOU!!"

[SarahBell]

Sooo you can go bankrupt in the UK but keep all your assets if they're not in the UK?

[Solvent Celt]

Sooo you can go bankrupt in the UK but keep all your assets if they're not in the UK?

No. You can be forced to hand over your foreign property as well (as Michael Barrymore found out). How ever if you bugger off abroad then there is little that can be done if the government of the country in question does not recognise the UK laws claim of extra territoriality.

There is also the question of who funds the legal recovery action. Presumably the trustee in bankruptcy will approach the tax man to fund such an action.

[backtoparents]

Do we have any terror extradition laws we can use with Dubai?

[delboypass]

it really grates me when these people like Tyson, Barrymore, Davidson all go bankrupt...

How many millions have these people gone through...and what do they have to show for it!!

(we all probably know they have a lot of stuff stashed somewhere but dont want to pay their dues!!)

[Guest muttley]

it really grates me when these people like Tyson, Barrymore, Davidson all go bankrupt...

How many millions have these people gone through...and what do they have to show for it!!

(we all probably know they have a lot of stuff stashed somewhere but dont want to pay their dues!!)

A fool and his money....

The problem is that these guys are still bankable.

[Loanshark]

'I wonder how many baby incubators has Jim robbed the NHS of by failing to pay his tax.'

To be fair he has paid more £ tax over the years than most people pay in a life time, i find it strange you can pay say £1M in tax over a couple of years as a super high earner yet when the big money stops no account of your massive past contribution happens, and the thanks you get is to be made bankrupt by the Inland Revenue.

[Guest muttley]

'I wonder how many baby incubators has Jim robbed the NHS of by failing to pay his tax.'

To be fair he has paid more £ tax over the years than most people pay in a life time, i find it strange you can pay say £1M in tax over a couple of years as a super high earner yet when the big money stops no account of your massive past contribution happens, and the thanks you get is to be made bankrupt by the Inland Revenue.

Income tax is a tax on income, so he must have earned it in the first place. I budget for my tax, why can't he?

[Solvent Celt]

Income tax is a tax on income, so he must have earned it in the first place. I budget for my tax, why can't he?

Exactly. He's had the cash and spunked it away.

'I wonder how many baby incubators has Jim robbed the NHS of by failing to pay his tax.'

To be fair he has paid more £ tax over the years than most people pay in a life time, i find it strange you can pay say £1M in tax over a couple of years as a super high earner yet when the big money stops no account of your massive past contribution happens, and the thanks you get is to be made bankrupt by the Inland Revenue.

My comment was tongue in cheek.

I've seen the revenue bankrupt tradesmen for relatively small amounts due (usually due to poor bookeeping) so I have zero sympathy for Davidson. It's not rocket science to put aside sufficient to cover your tax liability. It's not as though he couldn't have used an accountant to sort it out for him.

[backtoparents]

'I wonder how many baby incubators has Jim robbed the NHS of by failing to pay his tax.'

To be fair he has paid more £ tax over the years than most people pay in a life time, i find it strange you can pay say £1M in tax over a couple of years as a super high earner yet when the big money stops no account of your massive past contribution happens, and the thanks you get is to be made bankrupt by the Inland Revenue.

An extensive amount of his salary has been paid by the TV licence tax.

btp

[r.bartlett]

Exactly. He's had the cash and spunked it away.

My comment was tongue in cheek.

I've seen the revenue bankrupt tradesmen for relatively small amounts due (usually due to poor bookeeping) so I have zero sympathy for Davidson. It's not rocket science to put aside sufficient to cover your tax liability. It's not as though he couldn't have used an accountant to sort it out for him.

'Not as if'

what a ridiculous thing to say -would you really think entertainers all come back from treading the boards and start totting up their expenses. If you remember the fat bird from men behaving badly got stung by her accountant for 400k and Sting got stung for millions.

Actors etc are self employed and work hand to mouth so as such have accountants esp as they live in life's flighty end so most don't have the faintest idea about money.

It's also true to say that JD has done an awful lot for charity (including supporting several greedy ex wives) and his BFF does a lot for our troops around the world...

Still best get with the herd 'hey that Davidson bloke what a cu....

cheers

richard

[rockdoctor]

I encountered that Jim Davidson when he was swanning up and down Putney High Street supporting David Mellor in his attempt to hold onto his seat. They were accompanied by some gloomy looking blokes that everyone was ignoring - I later found out they were famous sportspeople.

That's my claim to fame.

[greengreen]

'Not as if'

what a ridiculous thing to say -would you really think entertainers all come back from treading the boards and start totting up their expenses. If you remember the fat bird from men behaving badly got stung by her accountant for 400k and Sting got stung for millions.

Actors etc are self employed and work hand to mouth so as such have accountants esp as they live in life's flighty end so most don't have the faintest idea about money.

It's also true to say that JD has done an awful lot for charity (including supporting several greedy ex wives) and his BFF does a lot for our troops around the world...

Still best get with the herd 'hey that Davidson bloke what a cu....

cheers

richard

I agree that some actors as well as artists have no idea about their finances and are living hand to mouth, but I do know others who are very efficient about their finances. What irks me about this is that everyone is liable for taxes, there is no excuse in not paying your taxes.

If you think that someone on a salary of £30k will be a top rate tax payer, Davidson is also a top rate tax payer but his disposable income is no doubt significantly higher. Why should the super rich not pay their taxes? Its not a case of getting with the herd, its just a fact that you need to pay your taxes.

HMRC will do as much as they possibly can to get their taxes from you. They also are relatively accomodating about people who have not submitted their returns and may be overdue on their taxes, but if you go in with your hands up and divulge your entire situation the can be relatively lenient. OK they will charge interest and late payment charges but if you try and hide anything then the interest charges can be significantly higher. Payment plans can be agreed with the HMRC, and if you stick to it they can be reasonable. Ultimately all they are trying to do is get the money. If people then start mucking about, missing payments that they had already agreed to pay and not inform the tax man it can break that agreement. I do think that making someone bankrupt is a last resort and I am sure that there is a lot going on behind the scenes taht we dont know. If you were Davidsons tax inspector, it would rather annoy you that he has dissapeared off to Dubai.

Why should someone who earns so much money not pay their share of taxes. Irrespective of what they do, whether they are a banker in the City, an entertainer, a sportsman, they need to pay their taxes. If they are not paying their taxes we are subsidising them and they earn so much more than us - that annoys me.

The charity work that he has done, that is great but I dont think that we can muddle up these two issues, they are entirely separate.

And with regard to the comment by Loanshark: "To be fair he has paid more £ tax over the years than most people pay in a life time, i find it strange you can pay say £1M in tax over a couple of years as a super high earner yet when the big money stops no account of your massive past contribution happens, and the thanks you get is to be made bankrupt by the Inland Revenue."

Ultimately taxes are just a percentage of your earnings, why should we pay a higher percentage of tax than the super rich.

[SarahBell]

'I wonder how many baby incubators has Jim robbed the NHS of by failing to pay his tax.'

To be fair he has paid more £ tax over the years than most people pay in a life time, i find it strange you can pay say £1M in tax over a couple of years as a super high earner yet when the big money stops no account of your massive past contribution happens, and the thanks you get is to be made bankrupt by the Inland Revenue.

The secret of it though must be to put aside some moneys for the tax man.

Unless you're aiming to piss it all up a wall.

[sam]

is that some kind of joke?

"Unable to pay debts as and when they fall due" is a pretty good definition of insolvency IMHO.

Jim Jim... none of us likes paying tax but it's a necessity.

I wonder how many baby incubators has Jim robbed the NHS of by failing to pay his tax.

Nick Nick... my mate Chalky etc etc

Or how many 17 year old chav single mums has he robbed of housing and sat TV

[right_freds_dead]

the debts probably tax earned in the 80s with lots of interest on it.

[Fancypants]

It's also true to say that JD has done an awful lot for charity (including supporting several greedy ex wives) and his BFF does a lot for our troops around the world...

Still best get with the herd 'hey that Davidson bloke what a cu....

cheers

richard

you're John Virgo really, aren't you?

[right_freds_dead]

Finance loopy nuts are we

Me and him and them and me

We'll show you what we can do

With a load of loans and a debt or two

Pay the reds then, lend back

From the fellow called howard in the halifax

Finance loopy nuts are we

We're all lending loopy

Now old john doe as we all know

bought his wife a new bathroom suite

London bred and his financial head

owes more out than he recieves

Emotional but he stays cool

'Til he reaches the payment finals

And whether he earns or whether he don't

'Im sunk in debt to me eyeballs'

Now our friend Den, £1000s he spent

Down the trafford centre market hall

On his minimum pay his mates seem amazed

At the size of his consumer haul

but financial shocks, he never ever got

Why? The old mind boggles

Bankruptcy court wrote off the lot

'Cos I wear these blacked out goggles'

Finance loopy nuts are we

Me and him and them and me

We'll show you what we can do

With a load of loans and a debt or two

Pay the reds then, lend back

From the fellow called howard in the halifax

Finance loopy nuts are we

We're all lending loopy

Now Terry the taff bought a btl gaff

In the valleys of the land of song

And as his debts rolled in renters grew thin

but this didnt stop him at auctions

if I follow the bbc spin he says with a grin

It can only help me can't it

I'll celebrate, I'll buy another eight

'1 bed flats out near barnet'

Now old Willy Thorne his moneys all gone

And another loan he thought not wise

His boss said ill keep your family fed

with a 3% inflation busting rise

When inflation shines down on his owed pounds

It's a cert he's gonna now walk it

It's just not fair living off fresh MEW air

'Perhaps I ought to start it'

Finance loopy nuts are we

Me and him and them and me

We'll show you what we can do

With a load of loans and a debt or two

Pay the reds then, lend back

From the fellow called howard in the halifax

Finance loopy nuts are we

We're all lending loopy

Now TTRTT last year came very near

To winning the landlords crown

But he never got to put it on his ginger nut

Cos the IR wouldn't go down

His bank manager sat and said sell the flat

But it helped him make his mind up

Now he don't care who rents this year

'Cos the bank have forced him to wind up'

Finance loopy nuts are we

Me and him and them and me

We'll show you what we can do

With a load of loans and a debt or two

Pay the reds then, lend back

From the fellow called howard in the halifax

Finance loopy nuts are we

We're all lending loopy

[Saving For a Space Ship]

He lives in luxury in Dubai - hardly "the mighty have fallen".

Bad Break