Ok is burning a million taxable? I take it they would have had a limited uk company that was vat resisted, would have to be by law. Therefore they would have to be audited at the end of the tax year, where the million pounds companies house would ask when the audit shows up 1 million missing no invoice no wages, they then would have been liable for taxation on this as corporation tax or payee tax taking it out in salaries or unearnt income from dividends. At which point they would have been arrested for burning a million quid i am sure its illegal gal isnt it?
Still not convinced, but still admire what their point is and yes I do appreciate what all of you are saying to me in response, im just still in denial.
As for deleting back catalologue of their work, thats more believable and respectable burning a million isnt. Money is evil but burning it is playing up to the evils it represents.
I also agree with this to a great extent...B&J certainly made a lot of money during 1992 and 1993, and if KLF Communications was run well (both of them had a wealth of experience of the music industry) they would have raked in the cash, with no major taking a hefty cut. They were lucky to be able to stump up the initial investment.
However, although I agree they burned a lot of banknotes on that island, I also believe that if they withdrew that cash from their bank (and that would be some feat in itself, believe me) and returned to their bank, claiming the notes had been burned, with video 'evidence', their bank would laugh in their faces. And if they didn't, the Bank of England would. Believe me, they keep tabs on that kind of thing, as much as they can. Accordingly, I don't believe that money would be truly 'lost'.
Also it would have been far more convincing if the statements had reflected an accumulated balance of £1,000.000.00 in credit, built up during the previous year or two, which was suddenly withdrawn. Instead we see a a huge one-off deposit of well over £1million at around the same time. OK this could have simply come from another account but if that was the case, why didn't they just show us the statements for that account, showing a £1million balance, a withdrawal for the same and then a nil balance?
But of course that's the whole point...and anyone who asks why they didn't show clearer statements in the film/book/interviews is missing it. If that had happened, discussion of the matter would have dried up almost ten years ago. And where's the mystique/art statement/fun in that?
Derek Knight <dj.nite@virgin.net> wrote:
> One mail mentions that they made millions and still are, well thats
not quite true, not sure about
> Drummond but the Cautys are not wedged up and the royalties are fuck
all.
Well... I'd argue slightly on this fact. In 1992, The KLF were the best
selling artists in the world.
On their own label, on their own terms, the best selling White Room
material all written and produced by them for relatively little. Unlike
lots of rock stars they didn't blow millions on coke, rehab and hookers.
They didn't buy mansions in LA or charter their own jets. They just had
to pay off a couple of samples.
And although their material is deleted in the UK, it's still available
in the biggest market in the world, the USA. Even with Arista taking
their cut, they must do pretty well out of that each and every year.
Especially conside ring practically every record shop in the UK has US
Imports of the White Room and Chill Out. And you've got radio and Music
TV all over the world playing their records and videos. Each and every
time... Kerching $£$£$.
They must do alright out of all that!
And as for whether they burnt it or not, the very fact that we're still
discussing it pretty much says everything. You only have to mention the
KLF in polite society and you tend to get one of two reactions:
A) Oh, aren't they the ones who did that "KLF A huh-uh uh-huh-uh-huh"
track?
B) They're the madmen that burnt a million quid, aren't they?
Do I think they burnt it? Yes. Why? Because they're fucking nuts! They
deleted their back catalogue after winning best band at the 1992 Brit
Awards! That cost them more money than chucking a million in the fire.
Don't really wanna start a big argument or anything, just my 2 cents.
(In my opinion, the more interest ing de bate is WHY they did it, rather
than whether they did or not.)
Del
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