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
Orlando City Signs Shea     
New MLS club Orlando City on Friday announced the signing of U.S. national team midfielder Brek ...
Report: Juve Eyes January Move for Falcao     
According to Italian soccer site Calciomercato, Manchester United may consider getting second-choice striker Radamel Falcao's huge ...
Reus Fined $665K for Driving without a License    
Borussia Dortmund forward Marco Reus has been handed one of the biggest driving fines in German ...
Balotelli Receives One-Game Ban, Fine for Instagram Post    
Mario Balotelli received a one game ban and a fine of 25,000 pounds after being found ...
Robbie Rogers: FIFA 'Insane' to Host World Cup in Russia, Qatar    
LA Galaxy left back Robbie Rogers has spoken out about FIFA's decision to stage the next ...
FIFA to Publish World Cup Corruption Report    
FIFA's executive committee on Friday agreed unanimously to publish Michael Garcia's report into the bidding process ...
FIFA: Qatar Needs Labor Reform to Keep 2022 World Cup    
FIFA executive committee member Theo Zwanziger on Tuesday indicated that 2022 World Cup host Qatar must ...
CWC: Auckland City the 'Winner,' but San Lorenzo Progresses     
Real Madrid's will face San Lorenzo of Argentina in Saturday's Club World Cup final after the ...
Di Maria Beats Messi, Aguero to Argentina's Player of the Year    
Manchester United winger Angel Di Maria has beaten Lionel Messi and Sergio Aguero to Argentina's player ...
League Cup: Rodgers Defends Sterling as Reds March On     
Following Liverpool's 3-1 League Cup quarterfinal win at Bournemouth, Coach Brendan Rodgers defended two-goal hero Raheem ...
>> Section 2 Around the Net Archives