![Martine McCutcheon declared bankrupt [Image © Anthony Devlin – PA Wire]](http://db2.stb.s-msn.com/i/BE/F5702C69A83396A1349A708458ECC6_h75_w75_m4.jpg "Martine McCutcheon declared bankrupt [Image © Anthony Devlin – PA Wire]")
The taxman says three and a half million people are due a refund, but two million will have to fork out for underpaid tax.
Martine McCutcheon and the celebrities who went bust
Angus 'Statto' Loughran
Image © Rex FeaturesShow Thumbnails
7 of 13
In 2008, the Insolvency Service confirmed that gambling expert and TV pundit Angus Loughran had been declared bankrupt. 'Statto', as he is known, was sent into bankruptcy by bookmaking firm Sporting Index over the relatively small sum of £5,700.
related stories on msn
262Comments
02/02/2012 17:42
No sympathy for her or any of the other cases you highlight. You generally reap what you sow in this life and if you are so stupid as to earn loads of money and spend it all on an extravagant lifestyle in a world full of hangers on and freeloaders, with no thought for saving any of it and investing wisely for the future, then you get what you deserve. Never cheat the taxman, he'll always catch up with you.
16/02/2012 00:51
I agree with choviani, the vulgarity of the wealth of some is abhorrent. When millions of people are starving and riddled with disease, when parents have to organise charity events just to send their a child for an operation to save their life as they have no money and the NHS wont / or cant do it. I read somewhere that 98% of the worlds wealth is owned by only 2% of the worlds population. it's a sick warped world when you really think about it,. It's sickening that the top end earners in finance and sport have clauses in their contracts that state no one can come into the company/football club and earn more than they do;" LOL" what the hell is that about? arrogant greedy ??????? How many yachts, cars, villas, islands, homes, aeroplanes etc do they need? I don't know; but I think there are a few million kids who would really appreciate a bowl of rice every now and again.
02/02/2012 19:12
The bigger story "Jonny MSN" is that decent folk are completely skint and struggling unlike the bankers and our "beloved" MP's on both sides of the house. I lost my job because of the thieving treachery of the last govt and the self serving treachery of our present govt. These people at the top have treated the common man with absolute contempt for too long, its time for a shift in power - from the haves to the have nots!!!!
What riles me just as much is the false idol worship we give to useless prats, ie those our media calls "Celebrities". We as a nation have worshipped too long at the alter of celebrity. Just seeing the trailer for the National Television Awards makes me want to vomit, why the hell should we applaud people who can act or sing and even some who can't act or sing. What about giving our £1.50 per text vote money to our local homeless shelter or our £1.00 a minute telephone vote money to the person who wants to establish a worthy charity that benefits those affected by child abuse or domestic violence etc...
Sick to death of this fluffy candyfloss hero worship of deluded idiots who believe getting a boob job is something to be proud of. From now on I refuse to speak to anyone who buys Jordans latest perfume or turns up at Peter andres next book signing blah blah blah
As for idiotic tv presenters who squander there wealth, I DON'T GIVE A TOSS !!!!!
02/02/2012 18:27
So... judging by the comments below - which any sane person should totally agree with - what I cannot understand is the menatlity of anyone giving it a thumbs down? What thought process leads you to believe that you should have even a grain of sympathy for these people?
Hmm.. I have lots of money - if I spend it (and indeed by extension spend beyond my means) - than A) it will be all gone B) I will be in debt .... logic would dictate then you should be a little thoughtful about what you spend. And frankly, I'm sorry, but a television personality adds little or no value to my life. My missus is a cardiac nurse, she brings people back from the brink of death on a regular basis, cleans sh1t everyday etc - these people should be paid the millions for the miracles they perform everyday. What a backward world.
02/02/2012 17:50
17/02/2012 06:10
02/02/2012 23:07
we all have bills/tax to pay, so why should they be any different?, the fact that they are rich and have lost touch with reality is probably something to do with it. Do they think they are untouchable, immune to paying bills perhaps? I owed the taxman £100 once and oh boy did he make sure he took it back!! serves em right i say.
02/02/2012 23:56
I really feel sorry for selfish people who are paid vast amounts for very little work. They really don’t know the meaning of work. To crawl along a track stretching under the dash of the latest car fitting fibre optics, my knees never recovered. You just prey for the end of each back breaking ten hour shift. At the end of each week you open your pay packet to find a large part gone in stoppages, and you look in the mirror to see if you have the word ‘Mug’ across your forehead.
These ‘celebrities’ are treated as responsible people and are trusted to put away part of their income to pay their way, why? Everyone should be on P.A.Y.E. or everyone should be ‘trusted’ and pay the income tax when they feel like it.
It’s not fair to have two systems of ‘income’ taxation, it‘s a millionaires charter. People will spend the money, go bankrupt, and won’t give a sh1t about the rest.
Pay As You Earn for all, and before anyone says it can’t be done, they manage it with VAT.
02/02/2012 19:28
14/06/2012 20:06
Bankrupt. Tell us another one.
Going bankrupt does not mean your broke, I know a number of people and companies that have gone bankrupt and the owners start another high flying business within six months.
I bet he is not living in a two up two down house on a council estate.....
Having the debt written off is a great feeling, is it not.
02/02/2012 17:55
02/02/2012 18:34
16/02/2012 13:31
02/02/2012 19:23
14/06/2012 21:04
Shane hasnt gone bust, his COMPANY has gone bust, and trust me with all those financial people behind him he will still come out on top, has he lost his mansion NO that will be in his wifes name, has he put his name on the local housing list NO, he was trying to make loads more on top of what he already had, er I think its called being greedy. He will still have his luxury holidays, very expensive Xmas's, his wife and kids will not suffer, and just look at the earnings for a few tour dates, not bad, Am I glad i never bought another ticket to go and see them to swell his pockets even more.
Let this be a lesson
15/02/2012 05:52
02/02/2012 20:48
What gets forgotten with all these 'celebs' going bankrupt is the people who never got paid for services provided. I don't fret over the Tax man and other preferred creditors, but there are lots of self employed people and small businesses who suffer, often themselves going bankrupt.
The plumber, electrician, gardener and many others finish up having to pay for the greed of these people. In a fair society the small businesses should be paid first rather than the banks and Tax man.
02/02/2012 23:02
02/02/2012 18:36
14/06/2012 13:37
Report
Are you sure you want to delete this comment?
latest money videos
more on msn money
Fed up with low savings rates and high borrowing rates? As Dave Fishwick and his Bank of Dave has demonstrated, there are other options out there.
US couple have found an innovative solution to the problem of sky-high house prices.
The two banks have now joined the Post Office's banking network, meaning customers can make withdrawals and deposits at branches around the UK.
Get 5p off per litre of fuel at Shell, broadband from £2 a month and more in our latest discount and freebie round-up.
Lifestyling is supposed to mean that your pension pot becomes more secure the nearer you get to retirement. Yet your pension provider might be switching you to overpriced and therefore riskier investments.
If you want to borrow a larger sum of money and repay it over time, a conventional personal loan is not always your best option.
Look out for these warning signs when house-hunting
Analysts at Barclays calculate Co-op – whose debt has been downgraded to junk – could need £1.8bn in worst case scenario
Government measures responsible for pickup in demand that has yet to be matched by increase in supply, says Rics
Majority of Brits feel no more optimistic about their finances despite economic revival
![Travellers often face hefty fees while abroad [Image © PA] Image © PA](http://db2.stb.s-msn.com/i/22/63AFC34E4B2C59772D8A39F7E616DB_h85_w116_m4.jpg "Travellers often face hefty fees while abroad [Image © PA] Image © PA")
The two banks charge the highest fees for withdrawing money overseas using their debit cards.
