[Archived] Big Col

[Kelbo]

The facts have been reported in the press.

He blamed it on poor tax advice, gambling (he said less than reported in the media) and also looking after his wife.

He had enough money to set him up for life. All of this could have been avoided if he made better, more sensible choices. Obviously looking after his wife is understandable and rightly so but if you're lacking in funds, it's obvious you don't gamble. I also find it hard to believe he wasn't aware of how much tax he owed before it topped just over £1m tax. They're on my back if I owe £100.

Like I said before, I really like the guy and what he went through with his wife I cannot even imagine but after earning a footballers wage, getting 300k in compensation & being able to live in a mansion worth just shy of £2m, I really find it crazy that he's now bankrupt.

Interesting point is, his tax as a player/manager should have been paid as PAYE by his clubs

so where does the £1,000,000 tax bill come from, that means at 40% rate, he would have earned over £2,000,000 outside of football after expenses etc and if this was the case, what was his agent doing??

[Kelbo]

The facts have been reported in the press.

He blamed it on poor tax advice, gambling (he said less than reported in the media) and also looking after his wife.

He had enough money to set him up for life. All of this could have been avoided if he made better, more sensible choices. Obviously looking after his wife is understandable and rightly so but if you're lacking in funds, it's obvious you don't gamble. I also find it hard to believe he wasn't aware of how much tax he owed before it topped just over £1m tax. They're on my back if I owe £100.

Like I said before, I really like the guy and what he went through with his wife I cannot even imagine but after earning a footballers wage, getting 300k in compensation & being able to live in a mansion worth just shy of £2m, I really find it crazy that he's now bankrupt.

Interesting point is, his tax as a player/manager should have been paid as PAYE by his clubs

so where does the £1,000,000 tax bill come from, that means at 40% rate, he would have earned over £2,000,000 outside of football after expenses etc and if this was the case, what was his agent doing??

[thenodrog]

Interesting point is, his tax as a player/manager should have been paid as PAYE by his clubs

so where does the £1,000,000 tax bill come from, that means at 40% rate, he would have earned over £2,000,000 outside of football after expenses etc and if this was the case, what was his agent doing??

He did a significant amount of property development over the past decade or so. I'd imagine the way the market was going that he would have made a lot of money. If he chose to gamble it away before he'd paid his taxes then it's no wonder that he's come unstuck.

[Doaksie]

He did a significant amount of property development over the past decade or so. I'd imagine the way the market was going that he would have made a lot of money. If he chose to gamble it away before he'd paid his taxes then it's no wonder that he's come unstuck.

He's really going to struggle now then. It's such a tough market to be selling a property, particularly if he got greedy and purchased any properties in the last few years. I see he has struggled to sell his own home, so I'd imagine he has had trouble selling any other property he owns.

House for sale for £1.75m. It was £2.5m in 2007