Member Since: 06 Jan 2005
Location: Patching, Sussex
Posts: 15496
F1 Tax issues (was in 'Well Done Lewis !!!!!!")
DG wrote:
13aldy13 wrote:
then wins at his home GP
Eh the last Swiss GP was in 1982
Not quite right, domicility is where "home" is; you are talking about residency. His residence is in Switzerland, his home is the UK - HMRC don't let you go that easy DS3 TDV6 HSE - Silver with Alpaca (old one) Gone
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4th Nov 2008 8:42 am
catweasel
Member Since: 05 May 2006
Location: Bundaleer
Posts: 4805
so DG is not English then
4th Nov 2008 8:47 am
Pelyma
Member Since: 06 Jan 2005
Location: Patching, Sussex
Posts: 15496
HMRC looks at the UK which Wales is a part of. If it wasn't it would depend on how long he had lived here and what connections he had kept with his former country (and if they want him they can keep him )DS3 TDV6 HSE - Silver with Alpaca (old one) Gone
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4th Nov 2008 9:04 am
catweasel
Member Since: 05 May 2006
Location: Bundaleer
Posts: 4805
was more thinking people in glass houses
4th Nov 2008 9:07 am
jkp
Member Since: 16 Sep 2005
Location: Living among Bawbags
Posts: 4528
MacLeod 313 wrote:
Playboy Button, hapless..........he has talent but loves the playboy lifestyle way too much.
Would you not be as well. If that were me, i'd be the biggest pit lane bunny bouncer in the business.
Following in the greats footsteps like Eddie Irvine and Mr Coulthard Coulthard only screwed the nut after his plane crash and openly admits that fact. He like the babes, champers and hot tubs more than anyone.
4th Nov 2008 11:16 am
Pelyma
Member Since: 06 Jan 2005
Location: Patching, Sussex
Posts: 15496
catweasel wrote:
was more thinking people in glass houses
Your antipodean wit got me there CW DS3 TDV6 HSE - Silver with Alpaca (old one) Gone
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D4 HSE Lux - Montalcino Red Gone
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4th Nov 2008 11:18 am
DG Site Moderator
Member Since: 12 Dec 2005
Location: The Gaff
Posts: 50979
So...
Quote:
Broadly speaking, you are domiciled in the country where you have your permanent home. Domicile is distinct from nationality or residence. You can only have one domicile at any given time
..isn't The " I'll abandon my country coz I'm a greedy tax dodging b*stard" F1 driver his permanent home in Switzerland then ?21 year LR veteran > D2 GS 2003 > D3 S 2006 > D3 HSE 2009 > D4 HSE 2013 > D4 HSE 2015 > D5 HSE 2018 > DS HSE R-Dynamic P300e 2021
4th Nov 2008 6:26 pm
TazDaz
Member Since: 07 May 2007
Location: South East Essex
Posts: 2858
from what I've read, Lewis is a bit of a 'billy-no-mates' where he lives in Schwerzingerland
Apparently (according to his ex, Miss Grenada, aka Vivian Burkhardt)
"There he is in Switzerland, where he has no friends, no family, just this amazing four-bedroom flat in the richest part of the city - but it’s simply big and empty.â€
“He just spends his spare time playing Formula One PlayStation games over the Internet with his 15-year-old brother Nic in England. The rest of the time, he’s texting friends who are miles away all over the world."
“Lewis told me how hard it was living in Geneva all alone. He said there’s nothing to do and he doesn’t know anyone. I know he’s bored and unhappy and would like to move. But he stays because it’s the one place he’s not constantly recognised or approached."
And, of course, it’s a tax haven that’s saving him millions.
ahhhhhh I wonder if that is why he lives there? surely not
What is it with us Brits? We have to judge others all the time. I'm as guilty as the next man of this, but sometimes I wonder why we seem so spiteful?I know it's not considered "kind" to say no these days, but no. Just no, ok? And if it's not ok, still no.
4th Nov 2008 8:37 pm
Shrinky
Member Since: 05 Jul 2007
Location: Cotswolds
Posts: 2515
Even if he paid tax in the UK I don't think he would be that skint I think I would rather pay the tax and be happy with my friends and family around me in England.Global Warming.... I'm luvvin it
4th Nov 2008 8:44 pm
Pelyma
Member Since: 06 Jan 2005
Location: Patching, Sussex
Posts: 15496
DG wrote:
So...
Quote:
Broadly speaking, you are domiciled in the country where you have your permanent home. Domicile is distinct from nationality or residence. You can only have one domicile at any given time
..isn't <s>The " I'll abandon my country coz I'm a greedy tax dodging b*stard" F1 driver</s> his permanent home in Switzerland then ?
Rich if you read the whole of IR20 where your quote comes from you will see that you are purely talking income tax and CGT, he is still taxed if he dies as a UK resident ie on his worldwide assets at a rate of 40% over the nrb. He acquired his domicility from his father and will remain UK domiciled for some time yet. If you'd like to get some extra revenue I guess you'll have to cut his brake pipes DS3 TDV6 HSE - Silver with Alpaca (old one) Gone
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4th Nov 2008 8:45 pm
DG Site Moderator
Member Since: 12 Dec 2005
Location: The Gaff
Posts: 50979
Ok hairy muff...but if there's no benefit what's the point then ? 21 year LR veteran > D2 GS 2003 > D3 S 2006 > D3 HSE 2009 > D4 HSE 2013 > D4 HSE 2015 > D5 HSE 2018 > DS HSE R-Dynamic P300e 2021
I don't think for one minute he sits around on his own bored. Talking to Phil Mills (Subaru co-driver for Petter) and although it's a different sport, the life is very similar.
He is never at home. Development work, testing, sponsors commitments, marketing, advertising, training, more development, more sponsors - oh and 16 race weekends a year "To finish first, one first has to finish ...."
Last edited by 90BHP on 4th Nov 2008 9:22 pm. Edited 1 time in total
I would rather pay the tax and be happy with my friends and family around me in England.
I certianly wouldn't
I much prefer to be not paying tax with my friends and family around me in Scotland 8)
Did my tax return today, then spoke to the accountants, then did something called 'income shifting', then re-did my tax return....... The older I get, the more I realise that people confuse wrinkles for wisdom
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4th Nov 2008 9:20 pm
Pelyma
Member Since: 06 Jan 2005
Location: Patching, Sussex
Posts: 15496
Its funny Rich in my game I meet lots of people desperate to avoid tax and some have even gone to the extent of actually severing their domicility with the UK, but many do come back.
Mr Hamilton will be saving some income tax, but he will still be a net earner of revenue for the UK through taxes that McLaren pay, merchandise and the like. Would you stay here in his circumstances?DS3 TDV6 HSE - Silver with Alpaca (old one) Gone
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D4 HSE Lux - Montalcino Red Gone
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the last Swiss GP was in 1982 
)
Coulthard only screwed the nut after his plane crash and openly admits that fact. He like the babes, champers and hot tubs more than anyone.
I think I would rather pay the tax and be happy with my friends and family around me in England.
