BoxRec

BIGMARK wrote:b oxingscene report:

WBC super middleweight champ Carl Froch is considering a possible move to Spain. Froch is upset with the high amount of tax he is required to pay, 50% on his earnings in the ring. Other fighters, like David Haye, have already left the UK. Haye resides in Cyprus. Froch says that he discussed the subject of leaving with Haye.

"I think it is a real shame that I am even thinking of moving abroad when I finish, because I love my country as much as any person. I wear the Union Jack on my shorts and it is there for a reason and I love my home city Nottingham. I don't want to leave England but I feel I might be forced to do so because 50 per cent tax is just so outrageous. You can't ask anyone to pay 50 per cent of what they earn on taxes, much of which is used just to prop up people who can't be bothered to work or who are fiddling the system," Froch told Daily Mail.

"I have seriously thought about moving to Marbella in Spain and retiring there when I finish. Boxing is a very short career so you have to make some money while you can. Why should I give half of that to a government that just throws a lot of it away when I am the one in the ring? I am paying for MPs to spend it on cleaning their moats and buying duck houses. I can't see a strong positive future by staying in this country. I've spoken to Nigel Benn about it and he lives over in Majorca and I've been learning Spanish for three years."

Froch says that he expects to land a unification bout with Lucian Bute in September. He says the fight might take place in Nottingham on either September 5 or 12.

But Froch isn't being asked to pay 50% on what he earns.

The 50% tax is a marginal rate, and is only paid on whatever he earns over a certain amount, not the whole lot. Further, because Britain has a tax system that levies taxes on items we buy -- often through methods such as VAT -- (indirect taxes) as well as income tax (direct), his total effective rate of tax as a percentage of his income is probably lower than people who earn significantly less.

I do believe that income taxes shouldn't be raised where possible and, ideally, they should be reduced, because I hate the idea of the state taking what you earn. However, there are two other factors -- beyond the fact he probably pays a smaller portion of his wages in total tax than lower paid people -- which mitigate this.

First, under normal circumstances, I certainly wouldn't back a fifty percent top tax rate. However, the UK government has to show the bond market that it has some fiscal credibility in terms of its future ability to pay back the mountains of debt it is accumulating in order to mitigate the effects of the current global financial crisis. If it doesn't, we'll probably face a depression, as the bond markets will run scared of British debt, precipitating a currency crisis and stopping any recovery dead with higher interest rates and devastating cuts in public spending. I do hope that Carl wouldn’t choose that rather than paying a few extra quid in taxes.

Second, I would also argue that we must have some form of progressive taxing, whereby the rich are levied at higher rates. Here in Russia there is a flat rate of income tax at only 13%. Sounds good, but then if you saw the state of the medical system here -- where the government allocates around USD7 bn to our USD250 bn -- and the general infrastructure, such as roads, etc, you would perhaps think again. One also has to wonder about the fairness of Roman Abramovich paying the same rate of Russian tax as a street cleaner.

It's all well and good for Carl to try to pay the popular card with the MPs' expenses claims, but while the public is rightly outraged about that, it's a very tiny fraction of our budget. The rest goes on services of which you, I and Carl have enjoyed the benefits for all our lives. When I lived in Britain, I was pretty happy to be able to wake up in the morning and take my morning crap on a flushing toilet, rather then having to sit on a bed pan and chuck it out onto the street as I would have had to have done 300 years ago. I'm pretty pleased with the fact I could run the tap and drink a glass of cool water, rather than having to lug big five litre bottles back from the supermarket as I do here in Russia. We travel on roads and rail; Carl can add up all the money he earns, as well as work out what percentage of that he’ll pay in tax, and probably learned to do so in a tax-funded school. He has probably taken advantage of a whole range of other services, like medical care, before his talent as a boxer made him rich; and his current wealth is protected from theft by a legal system which has police and courts paid for out of taxes. Certainly the tooth fairy didn’t build our great sewerage systems, water pipes, national grid, roads, schools, fire stations, courts, hospitals or jails.

So perhaps rather than crying about how he pays far too much tax (because, you know, the rich just have nobody to stand up for their rights, and need Carl), he could stick around and use his profile to engage the public politically to change the system and have the country run more efficiently? After all, taking advantage of publicly funded amenities and services, and then buggering off at the first sign of trouble, sounds a little like Carl is saying “I’m alright, Jack”.

I'm surprised that sportsmen and women don't do this sooner, if I was a top boxer then the first thing I'd do is get away from this dump.

banjo wrote:I'm surprised that sportsmen and women don't do this sooner, if I was a top boxer then the first thing I'd do is get away from this dump.

Banjo, as bigmark and carbo above prove, you don't have to be a top boxer to be able to move abroad.
Unless of course they are top boxers!

banjo wrote:I'm surprised that sportsmen and women don't do this sooner, if I was a top boxer then the first thing I'd do is get away from this dump.

Why don't you?

Find a job abroad.

If I can do it in Russia, I'm damn sure it's possible in the EU, where you have equal employment rights as the native citizens of your chosen country.

Not great planning Carl. Spanish unemployment is expected to increase to 5 million in the next year and the socialist government is talking of raising the tax rates "for the rich", i.e. the higher tax bands, to pay the dole bill and to appease the unions in return for easing employment legislation and making it easier to hire and fire people.

On the other hand he can get a*holed every night at Bigmark's bar who can then give us all the dirt on boxrec DD

Do it !

Carbo wrote:

banjo wrote:I'm surprised that sportsmen and women don't do this sooner, if I was a top boxer then the first thing I'd do is get away from this dump.

Why don't you?

Find a job abroad.

If I can do it in Russia, I'm damn sure it's possible in the EU, where you have equal employment rights as the native citizens of your chosen country.

I'm planning on moving to Australia in a few years so don't you worry

If you guys don't mind me asking, what do you chaps do for a living in your new countries and was it the work that took you there or did you just decide to move for lifestyle choices?

sg1985 wrote:

banjo wrote:I'm planning on moving to Australia in a few years so don't you worry

why would you want to move to australia?

Why not?

sg1985 wrote:
why would you want to move to australia?

Mundine !

Couldn`t he just move to Spain for the remainder of his career .. then move back to Britain - bringing back all his money once it had been earnt?

if i could i would move to Cannes or Monaco. been there twice and loved it

sg1985 wrote:i didn't say why not, but why would you want to move to australia

New country, new way of life and a new start.

I moved to Norway about 13 years ago (Norwegian Girlfriend at the time).

The tax situation here is dire. I reckon I pay close to 50% from the first kroner earned. Beer is £6 a pint, cars are double the price of the UK and houses are exepnsive. Everything is expensive here. There are also a large amount of freeloaders over here, who do nothing but are rewarded handsomley for it.

Having said that, I love the place. Wages are very high, the women are gorgeous, the scenery is beautiful and it is an extremely safe place to bring up children.

It`s all about standard of life, but no place is perfect. The standard of life in Norway is very high, short working hours, incredible social security system etc This means that crime is extremely low, as everyone has a decent living standard.

I miss the UK sometimes (pub culture etc) but I will never move back. When I retire I will buy a place in Oz, live there 6 months through our winter and spend the summers in Norway.

BIGMARK wrote:

warmachine wrote:if i could i would move to Cannes or Monaco. been there twice and loved it

the south of france is lovely except for the French yuppies who make their UK cousins seem quite middleclass.

Not too difficult since Yuppies are middle class.

i go forget about the french yuppies if I lived there. It was amazing in cannes

banjo wrote:I'm surprised that sportsmen and women don't do this sooner, if I was a top boxer then the first thing I'd do is get away from this dump.

I'm surprised boxers don't become self emplyed and deduct dividends and contract to Propmoters to rpvoide a service for a stipulated duration.

20% is much more favourable than tiered up to 50%, plus you can stay here and eat all the gravy you can find.

Saved me a fortune too mate. Fck Brown and his taxes.

It's great hearing everyones' opinion on this subject. I'm leaving the UK this year to live in France. I can't wait!

Emerson Poncey Name Ghent wrote:

banjo wrote:I'm surprised that sportsmen and women don't do this sooner, if I was a top boxer then the first thing I'd do is get away from this dump.

I'm surprised boxers don't become self emplyed and deduct dividends and contract to Propmoters to rpvoide a service for a stipulated duration.

20% is much more favourable than tiered up to 50%, plus you can stay here and eat all the gravy you can find.

And why would a promoter want to agree to that? Promoters invest time and money in a fighter in their early career, in order to reap the paydays at the end if and when they are successful.

Promoters get a bad rap, but they are the guys spending money to try and make a name for the fighter, and create the paydays.

so what does Froch think of the ppl who have lost their jobs or had their hours reduced to less than a school leaver would get for their first job, who have had to claim benefits.

does frochy think they're all too lazy to get a job?

comes across a bit like jeffrey archer on here. not the most diplomatic comments considering we're in a recession.

everyne wants more. maybe he should be a politician, raid the expense account.

jamesmcdonnell wrote:

Emerson Poncey Name Ghent wrote:

banjo wrote:I'm surprised that sportsmen and women don't do this sooner, if I was a top boxer then the first thing I'd do is get away from this dump.

I'm surprised boxers don't become self emplyed and deduct dividends and contract to Propmoters to rpvoide a service for a stipulated duration.

20% is much more favourable than tiered up to 50%, plus you can stay here and eat all the gravy you can find.

And why would a promoter want to agree to that? Promoters invest time and money in a fighter in their early career, in order to reap the paydays at the end if and when they are successful.

Promoters get a bad rap, but they are the guys spending money to try and make a name for the fighter, and create the paydays.

There is no risk for the Promoter provided the legalities are sorted. Provided said boxer operates as a Sole Trader (as the contract will dictate a service frm that Company) and the contract states that the company will provide the Promoter with a service for a set period of time (as an employed boxer's contract states), then they can bypass BRT and HRT, claim £452 per month (no NI) and deduct quarterly dividends at 20% corporate tax.

They can also invoice the Promoter for the service and claim back part of the VAT (I was charging 15% but only having to pay IR 11%, sportsmen is a different rate from memory). Provided the contract is within IR35 regulations there's no risk to the boxer.

I totally agree with Froch. If I was earning any sort of level of money out of sport like he is I'd be in Switzerland or somewhere. This country is a joke there are millions fiddling the system in multiple ways, have a kid in this country now seems a lifestyle choice for the lower classes who get a house and some good benefits out of it. Crap country, crap culture shut the door behind me, I've just finished a computing degree and I'm trying to get out.

TheCobra wrote:I totally agree with Froch. If I was earning any sort of level of money out of sport like he is I'd be in Switzerland or somewhere. This country is a joke there are millions fiddling the system in multiple ways, have a kid in this country now seems a lifestyle choice for the lower classes who get a house and some good benefits out of it. Crap country, crap culture shut the door behind me, I've just finished a computing degree and I'm trying to get out.

I'm sorry, but since when did 'The Sun Says' editorial column get to spam it's detritus all over this fine forum?

What a pansy, he said in boxing monthly he invested in Spanish property and was learning to speak Spanish so it's not like the ring is his only source of income. Plus he gets decent ring earnings anyway.

Too many Brits go to Spain or the South of France showing off their beer guts and fat arse cracks(like i had to suffer seeing on Talacre beach in Wales last Sunday ), i'll give them parts a miss when i holiday.

North of France or Japan for me if i holiday and i'd rather stay living in Britain.

I like the sound of Norway as a holiday too.

I like Froch, I respect his willingness to risk his title, and think his fights are bloody exciting. But I get the feeling he doesn't know how the other half live.

You know, chav woman in tracksuit, lets her bloke shoot his load in her, sh it out a watermelon after 9 months and then lives a life of plenty until her kid(s) grow up.