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
Arrests Mar Roma's UCL Win     
Police arrested three fans prior to AS Roma's UEFA Champions League opener against Russian side CSKA ...
Roma Players Warn City, Bayern Following Rout     
AS Roma's players said they are full of confidence following their 5-1 hammering of CSKA Moscow ...
Di Maria: "I Needed to Change My Life"    
In an interview with Perform, Manchester United forward Angel Di Maria says that he left Real ...
Drogba: "I'm Like a Diesel, I Need Time"    
Didier Drogba admits that he needs time to regain his fitness and confidence after squandering chances ...
Ajax Earns Draw with PSG    
Danish international Lassa Schone scored in the 74th-minute from a free kick to spoil Zlatan Ibrahimovic's ...
Barca Uninspiring in Narrow UCL Opener     
It was an uninspiring debut for Barcelona coach Luis Enrique in the UEFA Champions League on ...
Mourinho: Costa's Hamstring Injury a Concern     
Chelsea coach Jose Mourinho reiterated his concerns over striker Diego Costa's hamstring following the Blues' 1-1 ...
Report: NYCFC Eyes Queens Stadium    
New York City FC is considering building its stadium near the Acqueduct Racetrack in Queens, Capital ...
Ronaldo on Track to Break European Scoring Records    
If he remains injury-free this season, Cristiano Ronaldo should become the all-time leading scorer in both ...
Jardim: Monaco "Superior" in UCL Opener    
Leanardo Jardim hailed AS Monaco's "superior" display in Tuesday's 1-0 win against Bundesliga giant Bayer Leverkusen ...
>> Section 2 Around the Net Archives