Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
EPL players being scrutinized for tax evasion
AP, September 21st, 2011 1:40PM

MOST READ
TAGS:  england, soccer business

MOST COMMENTED

HMRC, the British version of the IRS, will target soccer players as part of its  clampdown on tax evasion. In an effort to boost revenues, the British government has put together a 100-member "affluence team" to examine the taxes of the estimated 350,000 people whose personal wealth exceeds $3.95 million. Many Premier League players fit into that category.

In particular, HMRC is examining transfer deals in which players get their agents' fees paid by the buying club or a third party. "When a third party pays a fee to an agent acting on behalf of an employee," HMRC said in a statement, "the fee may count as part of the employee's taxable earnings and so be liable to tax."

"We do see that HMRC are more enthusiastically checking the tax affairs of those areas of society that are tax rich, like the oil companies and certain individuals who are tax rich with large incomes," said Derek Hill, a tax partner at Field Fisher Waterhouse. "Footballers are a prime example of that."

Read the original story...


No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
FIFA Sets Meeting to Discuss Qatar 2022    
FIFA has said it will step up the search for new dates to play the 2022 ...
Poll: Fans Think Real is Weaker Than Last Season    
According to a poll conducted by Spanish daily AS, Real Madrid fans think their team is ...
Last Minute Deals for Cleverly, Falcao, Welbeck Completed    
Tom Cleverly on Tuesday completed a season-long loan switch to Aston Villa from Manchester United, despite ...
Report: EPL Clubs Spend Close to $1.4 Billion on Summer Transfers     
English Premier League teams smashed the previous record for spending during the summer transfer window after ...
Several World Cup Stars to Miss Final Rematch     
Lionel Messi is one of four injured Albiceleste stars for the World Cup final rematch between ...
Ronaldo: I Can't Say What I Think About Real's Transfers     
Cristiano Ronaldo, who missed Real Madrid's shock 4-2 defeat at Real Sociedad with a lingering knee ...
Ancelotti: Attitude to Blame for La Real Loss    
Real Madrid coach Carlo Ancelotti rejected suggestions that Xabi Alonso's departure to Bayern Munich was to ...
Creighton shuts down Jordan Morris    
No. 24 Creighton got goals by freshman Ricky Lopez-Espin and Fabian Herbers to beat No. 13 ...
Redknapp to Sign Two-Year QPR Extension    
Despite losing his first three games of the season, Queens Park Rangers coach Harry Redknapp revealed ...
Hernandez, Juve Agree Personal Terms    
The Corriere dello Sport on Friday reported that Juventus has agreed personal terms with Manchester United ...
>> Section 2 Around the Net Archives