The Hectorcist Claims First Tax Cheat

One individual for whom the EBT’s have Crystallised (jj passim) is none other than the Incorrigible Barry Barry Ferguson – Tax Cheat Extraordinaire.

Ferguson received £2.5 million in EBT payments.He also invested in a film production partnership called Eclipse which was targeted by HMRC after being ruled to be a tax avoidance scheme.

Ferguson has been declared bankrupt owing £1.4m to HMRC. Money that he stole from members of the armed forces, schools and hospitals.

Just a cheap disgusting little tax cheat who thought that he was smarter than the rest of. Was it a case of:

Do you know who I am? I am the captain of Rangers. We don’t do tax.”

The Hectorcist has arrived with chilling effect. One down, 79 to go.

 

Advertisements

23 thoughts on “The Hectorcist Claims First Tax Cheat”

  1. Assets of £3k! Yep, he saw this coming down the pike and reassigned ownership of his assets to keep them out of the reach of authorities. Bankruptcy is a favoured tactic, not many downsides for a guy like Ferguson. Bit of a hollow victory I’m afraid.

  2. Good afternoon JJ,could you enlighten me as to what the consequences of bankruptcy in Scotland actually means to anyone taking this route with regard to their assets.
    Id est,savings,houses,cars,speedboats they won on bullseye etc
    thank you in advance,as ever,stay safe,Irishboy.

    1. It depends on how well he has prepared for his day of reckoning. Assets can be put into offshore trusts. As he does not strike me as the sharpest tool in the EBT box his insolvency trustees will have their work cut out.

  3. I’ll contribute a red penny to wee Barry’s penury fund if only for the joy the munchkin is bringing into my dreary life.

  4. There are two, and only two positions with respect to tax. You are either wholly tax compliant within the tax rules, preferably to the penny – in which case you are truly tax efficient. The concomitant alternative is that you are guilty of tax evasion.

    Strip away the sophistry, casuistry, obfuscation etc and there is quite simply no such thing as ‘tax avoidance’. It is a chimera, a straw man in many cases, used to point the finger at those who are seeking to be tax efficient. Should HMRC decide that an individual is taking unfair advantage of loopholes or tax rules, then they must go to court and seek to prove they were actually guilty of tax evasion.

    It is worth looking at one of the many legal precedents in the form of rulings which determine subsequent judgments. Here is the easiest I could find :

    An interesting ruling from 1929, Ayrshire Motor Pullman Services & Ritchie vs Inland Revenue;

    “No man in this country is under the smallest obligation, moral or other, to arrange his legal relations to business or his property so as to enable the Inland Revenue to put its largest shovel into his stores. The taxpayer is entitled to be astute to prevent, as far as he honestly can, the depletion of his means by the Revenue.”

    So the legal position is absolutely clear, not only is so-called ‘tax avoidance” not illegal but it is a clearly-defined legal right to take advantage of every form of tax relief and allowance as stated in the 11,600 pages of tax rules……

    1. PS Deferred Options and EBTs were clearly tax evasion and should be referred to as such. Equally, outstanding taxes, relevant interest and, where appropriate, a punitive element must be levied.

      The film industry is an egregious example of the Government introducing tax breaks to stimulate the British film industry. It worked and there is a list of good films produced using the scheme. However, Hector has changed the rules retrospectively and many legitimate investors are being penalised unfairly. Some firms are still advertising investments using a variant of this scheme. Personally, I can see the case for closing down a tax incentive if it is working too well but to change the rules retrospectively and the start hunting down those who did what they were encouraged to do is grossly unfair in my opinion. It also risks ensuring high-worth individuals won’t invest in future schemes that the government wishes to promote.

  5. Transaction ID: 38B97292ES147xxxx

    JJ,

    Like others, I’m sure Mr. Ferguson has benefitted greatly from the protracted time it has taken to prove the obvious. I hope the HRMC are not willing to accept the “hollow victory” but rather review every transfer of ownership paper trail in the hope that some of his ill-gotten gains can be recovered to pay his dues to society and some semblance of financial justice can prevail.

  6. Sad news about Barry who has clearly been badly advised. One count of tax evasion might be put down as to bad luck, but two suggests a money grabbing individual desperate to avoid paying his social taxes. Of course I don’t expect to hear any criticism or analysis via the SMSM so will continue to follow this blog for news on his fellow EBT cheats, many of whom will have similar strategies. Do the SFA & SPFL consider bankrupts as fit & proper persons to be involved in the game? At least he can continue to rely to rely on the BBC and other useful idiots in the press providing him with pocket money during his distressed state.Any fees should instead be directed to pay his creditors.

  7. I feel he has been well advised here. Whoever is helPing here is using Barry to prepare the way for the rest of them declare bankruptcy and avoid paying back tax. They have no shame at all remember.

  8. The thought of these RFC 1872-2012 criminals begging on the street is a cheery one but I just doubt a weasel like Ferguson (thick as he is) has not sheltered his assets. But this will put a chill wind up his fellow EBT conspirators. The next knock at the door might not be room service or an Amazon parcel. It could be Hector via recorded delivery. Tick tock.

  9. But surely Barry did not understand the scam i mean his agent did it and ran away …no. To the SFA Barry is not claiming his agent did it which means he knew the scam he was involved in is this not a clear cut case of non-registered wee ned who had a dual illegal contract and who stuck his fingers up at you and mr Burley. What say you now SFA!!

  10. JJ

    Given that Mr. BF (along with many others) are all now confirmed as breaking the law (The obligation to pay income tax) – I’m wondering that any assets transferred would be considered “fair game” (if you pardon the pun) under the “Proceeds of Crime Act”?

    BT

  11. My understanding is that if Mr Ferguson transferred his home to his wife in the last 6 years then Hector will have that too. Anything else is Gratuitous Alienation. Now remind me where I heard that expression before..

  12. The film partnership scheme was pushed aggressively by top banks and accountants (Coutts and Deloitte). It was a legal scheme until Gordon Brown, retrospectively, and unfairly made it illegal.

    High net worth individuals are suing Coutts and Deloitte. Over 270 individuals.

    Trust me on this one!

    1. I received an email asking me to participate in a similar scheme barely a week ago. As I said earlier, if a scheme is to be wound up then set a final date whilst leaving existing participants alone. What Gordon brown did was beneath contempt and risks undermining the whole system of tax breaks to support various industries. Hell mend them !

  13. The fix is in , rotten to the core ,in the best interests of whom ??? ,,,,
    Jumping subject , I was disappointed in the banners displayed at Celtic park , compare this with Sevco team posing with flute band 2wrongs don’t make a right, but the vast majority of Celtic fans want to move on , maybe another wee insolvency event might come along

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s