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
Spurs Signs Vorm, Davies; Swans Sign Sigurdsson    
Tottenham Hotspur on Wednesday signed Dutch international goalkeeper Michel Vorm and Wales defender Ben Davies from ...
Stoke Signs Krkic From Barcelona    
Stoke City on Tuesday completed the signing of Bojan Krkic from Barcelona. Krkic, 23, became the ...
Report: Lampard Completes NYCFC Move     
Former Chelsea legend Frank Lampard has completed a move to new MLS franchise New York City ...
Barca Signs Mathieu from Valencia     
Barcelona on Wednesday signed central defender Jeremy Mathieu on a four-year contract from Valencia for 20 ...
Johnson Ready for 'Gladbach Challenge     
During his press unveiling on Wednesday, USA defender Fabian Johnson, who moved to Borussia Monchengladbach from ...
Van Gaal Bemoans Man United's Preseason USA Tour    
Louis van Gaal thinks Manchester United's preseason tour in the U.S. could jeopardize the club's success ...
German Politicians Question 2018 Russia World Cup     
Several senior politicians in Germany on Wednesday raised the possibility of stripping Russia of its right ...
Atleti Re-signs Tiago     
Atletico Madrid on Tuesday re-signed Tiago Mendes on a two-year deal, despite interest from Premier League ...
Koeman: Dani Osvaldo for Sale    
Southampton manager Ronald Koeman has confirmed that Daniel Osvaldo is for sale, but reports in Italy ...
BVB: Hummels, Reus Not for Sale    
Borussia Dortmund coach Jurgen Klopp on Tuesday poured cold water over the transfer speculation swirling around ...
>> Section 2 Around the Net Archives