I’d say it’s a lifestyle issue, she made all that money with dreadful books and perfume but when that stuff stopped she continued spending at the same pace as at the peak of her success.
One imagines the 45m is massively inaccurate. That’s the sort of cash that someone like roger daltrey is worth with a back catalogue of frequently played songs and ability to fill arenas is worth.
While I am no expert, the common thread of these celebrities including sports stars who fall into bankruptcy is failure to pay tax. And it seems HMRC is a creditor. Not to mention possible failure to pay employers NICs on their employed entourage.
In so far as I am qualified to give advice (I am not) I consider the golden rule is to allocate half the gross income into a separate escrow account for the tax man. Of her earnings, her agents probably took 10 to 15 per cent (possibly more: some musicians have paid 25 per cent or more.) That is before we on to fraudulent accountants and lawyers and investment advisors etc. Hangers on are common etc etc.
Keeping track of finances for a celebrity is a full time job. So, if she actually grossed £45 million her actual lawful net earnings from her ‘work’ (including books) over about 20 years were probably about £15 million at best. If that. That £45 million is probably a speculative (at best) or completely made up figure.
And of course there are all these tax avoidance schemes intended to reduce tax due (usually by generating losses on film projects and the like) which are later determined by HMRC and the courts to be unlawful and actually result in enhanced tax liability. As many footballers and others are now finding out.
People with fortunes much greater than that reported of Katie Price have lost a lot more. Johnny Depp and Mike Tyson spring to mind.
How many husbands has she had? They will have leeched off her I am sure. Someone up thread comparing earnings with net worth is missing the point. I could see her having earned £45m, then take off managers fees and tax, add in some bad investments, possibly some embezzlement by hangers on, all against a backdrop of living large with no constraint for many years.
Depp at least spent his money on French castles and an ridiculous amount of wine. You want insane look at Nic Cage who spent his on a T Rex skull that then got impounded.
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Dwight Yorke Allegedly left her to raise their child alone
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I think she slung a load in property. Still doesn't explain how she lost 45m. Maybe she blew it all on pink range rovers and ponies.
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Dumb ass bitch with mean face, 85% plastic
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Maybe Gareth Gates could bail her out.
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oh soz. didn't see this thread.
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I remember when she was praised by the trash mags for being business savvy 21st century woman
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Horses are seriously expensive especially if you buy a lorry and stuff to transport them.
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seems more of a cash flow issue? she has assets but no cash to pay debts?
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Horses are expensive but by and large they're predictable expenses, unless you invest (as I've done) in racehorses. Therein lies madness.
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It beggars belief how can you blow that kinda of cash , and no sails not on horses you can’t
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I’d say it’s a lifestyle issue, she made all that money with dreadful books and perfume but when that stuff stopped she continued spending at the same pace as at the peak of her success.
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Wot mr h said.
One imagines the 45m is massively inaccurate. That’s the sort of cash that someone like roger daltrey is worth with a back catalogue of frequently played songs and ability to fill arenas is worth.
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While I am no expert, the common thread of these celebrities including sports stars who fall into bankruptcy is failure to pay tax. And it seems HMRC is a creditor. Not to mention possible failure to pay employers NICs on their employed entourage.
In so far as I am qualified to give advice (I am not) I consider the golden rule is to allocate half the gross income into a separate escrow account for the tax man. Of her earnings, her agents probably took 10 to 15 per cent (possibly more: some musicians have paid 25 per cent or more.) That is before we on to fraudulent accountants and lawyers and investment advisors etc. Hangers on are common etc etc.
Keeping track of finances for a celebrity is a full time job. So, if she actually grossed £45 million her actual lawful net earnings from her ‘work’ (including books) over about 20 years were probably about £15 million at best. If that. That £45 million is probably a speculative (at best) or completely made up figure.
And of course there are all these tax avoidance schemes intended to reduce tax due (usually by generating losses on film projects and the like) which are later determined by HMRC and the courts to be unlawful and actually result in enhanced tax liability. As many footballers and others are now finding out.
People with fortunes much greater than that reported of Katie Price have lost a lot more. Johnny Depp and Mike Tyson spring to mind.
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How many husbands has she had? They will have leeched off her I am sure. Someone up thread comparing earnings with net worth is missing the point. I could see her having earned £45m, then take off managers fees and tax, add in some bad investments, possibly some embezzlement by hangers on, all against a backdrop of living large with no constraint for many years.
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And she “only” has debts of £800k surely she can pull that up , from her house at least
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Depp at least spent his money on French castles and an ridiculous amount of wine. You want insane look at Nic Cage who spent his on a T Rex skull that then got impounded.
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We say in the North, from clog to clog in three generations, she has done it in 13 years?
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