Jamie Magill has worked with a number of high profile Premier League footballers who received life-changing and sadly rank bad financial advice from IFAs. There are many tales of IFAs waiting outside the gates of the training ground at Premier League clubs for days on end and badgering the players as they left the complex. Eventually, a player may relent and have a conversation: some years later this conversation ended with HMRC enforcement and demands, hefty tax bills for the footballer and threats of court action and bankruptcy.
Most advice concerned film and overseas property investment schemes: footballers were told that these schemes offered a lawful mechanism to obtain tax relief but HMRC saw them as tax avoidance and sought to crack down: not only seeking repayment of tax relief obtained but additional costs and interest. Jamie managed to obtain considerable sums of compensation for many footballers from IFAs who failed to explain to their clients the complex mechanics of the arrangements and the potential tax implications: few footballers understood and why would they? What do you know about the offside rule?
While tax schemes are no longer as topical with the passage of time resolving these matters Jamie Magill still works with a number of footballers and sports professional: not only in the mis-selling space but in assisting those establishing new businesses and ventures and requiring legal expertise across the board.
Jamie is also a published non-fiction sports author. “Inglory Inglory Man United” chronicles the dystopia of Manchester United in the Liverpool dominated 1980s (from the perspective of the author as a die-hard school boy Red Devil) and was published by Pitch Publishing in January 2021: https://www.pitchpublishing.co.uk/shop/inglory-inglory-man-united. This book has sold strongly and is now available in many major retail outlets as well as online. Jamie has also agreed contracts to write a second book for Pitch Publishing entitled: “It’s Raining Bats and Pads- a story of Lancashire County Cricket Club 1989-1996” which is due to be published in March 2022.
I engaged with Jamie to assist me with my dispute. Matters had become circular and it felt as though I was becoming a little out of my depth with a legal process appearing inevitable. Jamie unselfishly encouraged me to keep dialogue going and armed me with a greater understanding around the law relating to my dispute. This resulted in far improved dialogue with the other party and an eventual settlement.
– Alex, From Stockport
JCLM has experience in dealing with the pension mis-selling issues set out above and presenting claims for compensation, either through the Financial Ombudsman Service (“FOS”) or the Financial Services Compensation Scheme (“FSCS”). JCLM also have experience of dealing with court matters on these issues and holding individuals to account where relevant.
JCLM will be able to ascertain whether- given your investment background, stated requirements and appetite for risk- you were given negligent advice and whether the risks of such schemes were explained to you sufficiently. We can present these complaints for resolution internally, through FOS and the FSCS and- where necessary- through the Courts.
Find out more about the work we do with out clients in our range of case studies.
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