Tyson Fury earned just £2.3m from Deontay Wilder purse…

[Jim Tom]

when i file my tax return, im asked about everything eg shares held overseas.
one way or another like ive said..there is no getting around the tax situation, it is designed so that british residents pay what they're meant to pay.
unless you gain long term residency in the other country.

thing is, tyson fury was based in the uk when he took the wilder fight. he only went to the US full time from the top rank contract which came last year. his tax return is for the year prior.

End of the day, $5m is what he got from wilder..and the accounts show £2.3m in profit which makes total sense after tax, promotional fees and other expenses.

If you don’t control the Trust and it’s for someone else’s benefit it’s not your really is it?

[Inspired]

If you don’t control the Trust and it’s for someone else’s benefit it’s not your really is it?

Trusts are subject to inherent tax, or i think it's capital gains tax, not sure.
it is financially better to put money through a limited company than use a trust.
also, seriously you think TF was going to use set up a trust back then? 3 yrs out binging on food, booze and coke, then making the comeback and taking the wilder fight fairly fast...with all the promotional work behind that..you think he was setting up a trust?
everything Fury did was textbook bipolar.

look, to me it's all quite basic...the money his accounts show @ £2.3m looks very accurate.
Furthermore, fury himself said he's 'donating his purse'...and that was a clear hint at his intention to use a bogus charity to launder the money whilst claiming back taxes through gift aid tax relief.

why would he need to set up trusts?
however now he's on big money, different context.

[Bullrider]

£2.3m is a lot of money for an average boxing event.

What do you expect them to make? $10 million each? Where would the money come from? Make Espinoza overpay them? Why?

[Jim Tom]

Trusts are subject to inherent tax, or i think it's capital gains tax, not sure.
it is financially better to put money through a limited company than use a trust.
also, seriously you think TF was going to use set up a trust back then? 3 yrs out binging on food, booze and coke, then making the comeback and taking the wilder fight fairly fast...with all the promotional work behind that..you think he was setting up a trust?
everything Fury did was textbook bipolar.

look, to me it's all quite basic...the money his accounts show @ £2.3m looks very accurate.
Furthermore, fury himself said he's 'donating his purse'...and that was a clear hint at his intention to use a bogus charity to launder the money whilst claiming back taxes through gift aid tax relief.

why would he need to set up trusts?
however now he's on big money, different context.

The ownership of companies through Trusts. The same way he says he was donating money through charities could be the same way he could have used Trust. Also the purses were declared as they have to be published so the income reported doesn’t come any closer to what is published by the commissions. Boxers get their cheques after the fights so there seems to be a discrepancy unless we are talking different periods here.

[Inspired]

The ownership of companies through Trusts. The same way he says he was donating money through charities could be the same way he could have used Trust. Also the purses were declared as they have to be published so the income reported doesn’t come any closer to what is published by the commissions. Boxers get their cheques after the fights so there seems to be a discrepancy unless we are talking different periods here.

no matter what, it has to be declared in the tax return..and therefore inland revenue still get their 40%+ when its cashed out.
a limited company allows you to take out money for less tax.

about charity...im talking about fraud/money laundering...
as in, get someone you know to set up a charity. donate all your money (after its been taxed) to that charity. then claim back the gift aid tax refund, the charity will do the same. end result all that tax money has been refunded.
what happens to the money in the charity bank account after is a game of cat and mouse.
eg withdraw the money in cash...and then what?
its pretty much laundered.

its about creativity.
since TF mentioned charity, im assuming he did or was going to (until the espn contract came in) take that approach..
all this talk of a trust or overseas company or whatever, those come to more tax than what he'd be paying from his limited company.

[LacedUp]

People are quick to scream ..So and so ONLY made so many MILLIONS....Man wtf worry about your pockets, DO YOU EVEN HAVE 1 DAMN MILLION IN YOUR ACCOUNT?

I love how you say 1 damn million as if it's some nominal amount.

Also, don't you know everyone on the internet are millionaires?