How debt crusader Geldof could save £1.6m in death tax

ArrGee · Back To Boomtown

Tax dodger!

Jules · The biggest Geldof fan in the world, bar none!

I saw this and was going to post it. But as it was in the worst tabloid of all, I decided not to bother. Sorry but I really detest that tabloid which goes under the name of a newspaper. Not saying there isn't an element of truth or I'd even be surprised if this particular stories was true. But the Daily Mail, come on!!

ArrGee · Back To Boomtown

Jules wrote:

I saw this and was going to post it. But as it was in the worst tabloid of all, I decided not to bother. Sorry but I really detest that tabloid which goes under the name of a newspaper. Not saying there isn't an element of truth or I'd even be surprised if this particular stories was true. But the Daily Mail, come on!!

You could say the same of most UK papers.

I think it's a nice arrangement. It's a very creative way of avoiding both IHT and stamp duty. Very tempted to re-domicile myself. If I move to France, I can sell up in the UK and draft a will to take advantage of this. French IHT kicks in at a lower amount, it is not as punitive on family members as the UK IHT. Also it is quite legal to set up a French company to own property as a means of mitigating IHT.

In Italy, IHT does not exist. Maybe I should domicile in Italy.

-- Edited by ArrGee at 17:26, 2007-07-17

Scottie · Loudmouth

I applaud anyone who can legally avoid that awful inheritance , or "death" tax. Families have gone bankrupt or had to sell their home to pay it. Bob has done a lot of restoration work on the priory during the 25 years he has lived there and employs local people.

Jules · The biggest Geldof fan in the world, bar none!

I don't think Bob will go bankrupt because of it, or his family.

It is just another tax which is administered very unfairly. The threshold still hasn't gone up, whilst housing continues to rise!!

ArrGee you have to admit that the Daily Mail is the absolute worst, even worse than the Sun. It is likely to have been taken out of context. I do remember reading once that Manor was in his father's name and thought that probably was a tax dodge.

Jules · The biggest Geldof fan in the world, bar none!

Another report. They still refer to the Daily Mail - can't they do their own research biggrin

http://www.financialdirector.co.uk/accountancyage/news/2194308/geldof-25m-iht-dodge

It says he claims to live in Ireland. Does he have a property over there? If it is true, I'm sure he knows exactly what he's at and wasn't surprised that it saves inheritance tax for his daughters.

oshora · CRAZY

I have read where Bob has two homes in the London area, one in the Dublin area, and one in Paris.

He must know what he is doing with respect to all of this property business; he's not stupid. I'm sure he wants the most for his kids and if they don't have to pay inheritance taxes or a reduction to what they have to pay, he would surely arrange it.

Didn't Sting say he was not leaving all of his money to his 6 kids - didn't want them to be spoiled. He would leave enough so they would not have to worry? Something like that. Of course now he has to pay the pregnant chef he and his wife terrorized and fired! What a trip, eh? smile

Jules · The biggest Geldof fan in the world, bar none!

I knew he had a place in Paris and had a feeling he had somewhere in Dublin. I wonder where?? smile

Good for Sting for not wishing to over spoil his children. Maybe he won't have much left after he's been sued. biggrin

However, I wouldn't want to be employed by their household, that a was a disgrace. Can't they do their own cooking, like the rest of us! wink

musicmania · A Hold of Me

Jules wrote:

Good for Sting for not wishing to over spoil his children. Maybe he won't have much left after he's been sued. However, I wouldn't want to be employed by their household, that a was a disgrace. Can't they do their own cooking, like the rest of us!

Hi Everyone, I haven't been on the forum in a while. Work is crazy!!!!!!
I saw that news story but its hard to know what to believe as they strongly deny it. The story that shocked me most was the story of Barbra Stresiend staying in the hotel in London & her list of demands so she could feel at 'home'. One was that the hotel staff weren't to look her in the eye! She played a few miles from where I live last week & the concert was a disaster. People paid E600 & found their seats taken with no stewards to sort it & there was numerous other problems. I used to like her but hearing all this isn't good.
I know the stuff did happen at the concert here but the other stuff along with the stories on Bob's house & Sting's wife may be fabricated.

oshora · CRAZY

I'm sure the press over exagerates information about all celeberities...but how did the chef win in court? Some of it must be true???

Soory to hear about Barbra S. concert. I saw her years ago in California when her voice was so pure, it was magic listening to her. I still have several of her old LP's. One of my favorite movies is Funny Girl..."don't rain on my parade!" Great song.

musicmania · A Hold of Me

I wasn't at the gig myself. I couldn't afford those inflated prices but I was talking to people who where there.