* Twitchy Trial Tweet Cam *

[Wonderwall]

Lets hope the prosecution has the last laugh. Fuclin henry james redknapp.

[Chinners]

Meanwhile in another venue far away from courtroom 6 ....

England football captain John Terry will stand trial for alleged racist abuse in July, after the final of the European Championship in July.
The Chelsea skipper is alleged to have made racist comments towards Queens Park Rangers defender Anton Ferdinand in a league match on 23 October 2011.
A not guilty plea was entered on Mr Terry's behalf at Westminster Magistrates' Court on Wednesday.
He will now stand trial on 9 July, nine days after Euro 2012.
The Crown Prosecution Service (CPS) said Mr Terry, 31, is accused of a racially-aggravated public order offence.

[Chinners]

DAY 8
The defence ask Redknapp about his relationship with Mandaric

Redknapp: "We had our ups and downs. We were both a bit volatile, especially me. There's nobody I'd rather go for dinner with"

Redknapp says about Mandaric "We got on great from first minute." Said M gave him Portsmouth job less than hour after first meeting

Redknapp: " I always pay my tax. I'd rather pay too much tax than not enough. I always pay my tax"

Break for lunch now. Redknapp will continue giving evidence after 2pm

[Fesan]

Loving the news service, but afraid thar the prosecutions case is alittle thin. Not seeing any evidence of the money being a bonus, lets hope they can get them on some legal mumbo jumbo like tax on gifts or something, atleast where I am from you cannot gift someone more than 2000£ without paying taxes on it.

That's the point.

Thought they were going for income tax? As in he got a bonus from his boss, not a gift from a friend, and did not pay tax on income?

Where i am from the tax levels are quite different on gifts and money passed down from parents versus income tax. Set tax values for gifts/inheritance and fluxuating tax on income.

Thus the total sum "not payed" on a possible gift tax evation should be alot smaller.

[Ted Hughes]

Loving the news service, but afraid thar the prosecutions case is alittle thin. Not seeing any evidence of the money being a bonus, lets hope they can get them on some legal mumbo jumbo like tax on gifts or something, atleast where I am from you cannot gift someone more than 2000£ without paying taxes on it.

That's the point.

Thought they were going for income tax? As in he got a bonus from his boss, not a gift from a friend, and did not pay tax on income?

Where i am from the tax levels are quite different on gifts and money passed down from parents versus income tax. Set tax values for gifts/inheritance and fluxuating tax on income.

Thus the total sum "not payed" on a possible gift tax evation should be alot smaller.

They want to know why he's had £300k in an offshore account. You can't do that without telling them, irrespective of whether it's a bonus or a gift so why should they assume it's a gift in particular ?

[Fesan]

Based on the testimonies so far, mandaric saying it was a gift to a friend:-)

[Chinners]

In Britain, if say, you win the National Lottery. You would be able to gift any friend or relative upto £4k a year. Any more than that then they have to pay tax whether its put in a British account or an account abroad.

[Chinners]

DAY 8 cont.
Redknapp said Mandaric didn't want to sign Peter Crouch because he was "a basketball player."

More laughter in Court when Redknapp said Crouch had been good investment as he was "young, getting better and growing taller."

Redknapp said he was paid £500,000 a year when he became Portsmouth manager in 2002. He got £400,000 bonus for promotion to Premier League.

Redknapp said when director of football at Pompey he was "like a chauffeur", driving Milan to all games. They spoke about investments.

Redknapp said at that time he was buying lots of shares. "They went up. I thought this [is] easy. I was making money - then went downhill fast!"

R: "Morally I was due Crouch bonus even though legally I wasn't as not in contract." Monaco cash not Crouch bonus as "not in my contract."

Redknapp said he was sent to Monaco bank to meet a Mr Cushdin. More laughter when R asked who he expected to meet. R: "Mr Cushdin."

Redknapp not given cheque book by bank. "Probably because I'd have left it on a deck chair when Sandra and I went to beach in afternoon."

[Chinners]

DAY 8 cont.
"Court told Redknapp entitled to 10% of Pompey's annual Premier League merit award.

In 2004 Pompey got £4.3 million for finishing 13th.

Redknapp said in 2004 Mandaric told him he'd lost 'millions and millions and millions' and had lost most of Redknapp's Monaco money.

Redknapp said he told Jim Smith what Mandaric said. 'Jim told me he probably hadn't put any money in in 1st place. We all started laughing'."

[Im_Spartacus]

Right fucking witty cunt isn't he.

Maybe I have misread, but has Mandaric not said that:

1: It was a gift
2: It was to build an investment portfolio. When Redknapp returned to Southampton, he was reminded that he owed Mandaric the money. Which sounds like a loan, not a gift.

[Im_Spartacus]

In Britain, if say, you win the National Lottery. You would be able to gift any friend or relative upto £4k a year. Any more than that then they have to pay tax whether its put in a British account or an account abroad.

I've never heard of that, are you sure?

[Chinners]

Right fucking witty cunt isn't he.

Maybe I have misread, but has Mandaric not said that:

1: It was a gift
2: It was to build an investment portfolio. When Redknapp returned to Southampton, he was reminded that he owed Mandaric the money. Which sounds like a loan, not a gift.

This is the allegation of the Prosecution who contend that their stories differ markedly ...

In Britain, if say, you win the National Lottery. You would be able to gift any friend or relative upto £4k a year. Any more than that then they have to pay tax whether its put in a British account or an account abroad.

I've never heard of that, are you sure?

Quite sure ....

[Fesan]

Will a possible conviction and its severity be measured based on amount of tax evaded or amount tax was evaded on? Because i guess tax is lower on gifted money so could lead to a less severe penalty vs a conviction on salary if the severity is measured based on the amount of £ he should have payed and not the amount he hid.

[Chinners]

The sentence is based on 'frauding the Public purse', the amounts are pretty irrelevant ... well irrelevant to the sentence anyway

[Chinners]

DAY 8 cont.
"Redknapp told jury how he hadn't been home at 6am when police arrived at home to arrest him. He was on way back from Germany. Wife was alone."

"Redknapp said police arrived with Sun photographers, who had been tipped off, alongside them. His wife was 'absolutely terrified'.

Redknapp said wife thought he must have been killed in plane crash when she saw flashing lights. Police never explained Sun tip off to him."

"Prosecution had earlier described Redknapp as a 'hard headed businessman with financial acumen'.

Redknapp's barrister asked his response. Redknapp: 'I'm a fantastic football manager. I have no business sense whatsoever unfortunately'."

[Im_Spartacus]

Right fucking witty cunt isn't he.

Maybe I have misread, but has Mandaric not said that:

1: It was a gift
2: It was to build an investment portfolio. When Redknapp returned to Southampton, he was reminded that he owed Mandaric the money. Which sounds like a loan, not a gift.

This is the allegation of the Prosecution who contend that their stories differ markedly ...

In Britain, if say, you win the National Lottery. You would be able to gift any friend or relative upto £4k a year. Any more than that then they have to pay tax whether its put in a British account or an account abroad.

I've never heard of that, are you sure?

Quite sure ....

Cheers, I hadn't seen that the prosecution had challenged it on my first glance through the thread.

With regards the gifts, there is no tax payable in the UK on gifts, unless a gift into certain types of trust was made, and then only if such gifts cumulatively totalled more than £325,000 (Chargeable Lifetime Transfer)

However, individual gifts above £10,000 or a cumulative total of £30,000 over 5 years (or something along those lines), have to be reported to HMRC. So if it was a gift, then they would be guilty of not reporting the gifts which I am sure would be an offence in itself.

If it was a loan, and he was reminded of its existence in 2005, surely by now it would have been paid back and there would be no case to answer.

[david yearsley]

DAY 8 cont.
"Redknapp told jury how he hadn't been home at 6am when police arrived at home to arrest him. He was on way back from Germany. Wife was alone."

"Redknapp said police arrived with Sun photographers, who had been tipped off, alongside them. His wife was 'absolutely terrified'.

Redknapp said wife thought he must have been killed in plane crash when she saw flashing lights. Police never explained Sun tip off to him."

"Prosecution had earlier described Redknapp as a 'hard headed businessman with financial acumen'.

Redknapp's barrister asked his response. Redknapp: 'I'm a fantastic football manager. I have no business sense whatsoever unfortunately'."

Sure it wasn´t
"I´m a fackin fantastic football manager" ?

[Goaters 103]

Every time you ead "laughter in the court" and every bollox plea of stupidity and "It was Milan what done it" you just know this is heading for not guilty.

[bigblue]

In Britain, if say, you win the National Lottery. You would be able to gift any friend or relative upto £4k a year. Any more than that then they have to pay tax whether its put in a British account or an account abroad.

I've never heard of that, are you sure?

Similar to the US. You can receive up to 10K before you have to declare it on your taxes

[Chinners]

DAY 8
This is getting a bit heated now.

Redknapp raising his voice as he replies to many of the prosecutions questions.

Prosecution: 'You talk about bonuses a lot'. Redknapp 'Yes I do'.

Prosecution: 'Maybe you're used to bonuses'. Redknapp: 'I am because I'm successful'."

The judge has now called a halt for tonight. The Trial will resume at 10am tomorrow with Redknapp continuing to face cross examination. I confidently predict an even longer queue for seats for the public gallery tomorrow.