Share this @internewscast.com

<!–

<!–

<!–

<!–

<!–

<!–

Premier League clubs had £124.8million claimed back from them in unpaid tax by HMRC investigators in the most recent financial year.

Accoring to figures compiled by accountancy group UHY Hacker Young, this was more than double the £58.7million claimed in the previous year. 

The staggering amount was made up of payments including National Insurance on agents’ fees and image rights, as well as tax on benefits in kind. 

It had previously been suggested that Premier League sides had avoided paying £250million in tax by using dual representaition contracts when paying agents.

HMRC claimed back £124.8million from Premier League clubs in the previous financial year

HMRC claimed back £124.8million from Premier League clubs in the previous financial year

HMRC claimed back £124.8million from Premier League clubs in the previous financial year 

According to Tax Policy Associates, dual representation allows clubs and agents to avoid employment taxes and VAT on the large commissions paid to football agents in transfers and contracts. 

It sees an agent receive payments for acting for both the club and player in the deal, rather than solely from the player they represent.

The fees paid to agents reportedly escape income tax, national insurance and VAT when the sum is paid by the club.

Following news of the HMRC claim, Elliott Buss of UHY Hacker Young explained: ‘HMRC now have these clubs’ tax affairs in their sights.

‘The growing proportion of agents’ fees being paid by clubs is drawing the attention of the taxman to the possibility that not all tax due on these payments is being paid.’

In a statement, HMRC said: ‘We will continue to carefully scrutinise arrangements between clubs, players and agents to ensure the correct tax is paid.

‘We work closely with the football industry to educate and deal with tax risk head on.’

Share this @internewscast.com
You May Also Like

Lamine Yamal Enjoys a Helicopter Ride and Responds to Guti During Vacation

Aside from Spain’s loss to Portugal in the UEFA Nations League final,…

Paul Pogba Teases Fans with Mysterious Social Media Post as He Nears Move to Champions League Team Following 18-Month Doping Suspension

Paul Pogba has posted a mysterious message on social media as he…

David Beckham Honored with Country Life ‘Birthday Tribute’ as Knighthood Awaits

David Beckham is expected to receive a knighthood in King Charles’ Birthday…

England Clinches U21 Euros Title with 3-2 Victory Over Germany as Thomas Tuchel Watches Thrilling Final

It was jotted down in an FA notebook that if England were…

Dean Smith shares insights on his journey with Charlotte FC, his fatherly role with Jack Grealish, and reveals the ‘irreplaceable’ Aston Villa player.

Sheltered away from the brutal heat wave that has swept across America,…

Sir Gareth Southgate Knighted by Prince William for Leading England to Two Euro Finals

Former England manager Gareth Southgate has received his knighthood from Prince William…

Newcastle’s Victory Against Tottenham Activates Chelsea Transfer Clause

Newcastle’s crushing victory over Tottenham has all-but confirmed the signing of Lewis…

Milos Kerkez: Liverpool’s Rising Star Who Impressed Paolo Maldini – ‘Exceptional Talent’

Big changes are ahead for Liverpool new boy Milos Kerkez in the…

Gareth Southgate Reveals Surprising Insight About England Role Following Former Manager’s Knighthood

Gareth Southgate has admitted he does not miss managing England following his decision…

Introducing Three of Britain’s Teen Tennis Stars Balancing School and the Quest for Grand Slam Success

Mika Stojsavljevic, 16, is preparing for her GCSE exams in Loughborough on…

IN-DEPTH CHELSEA: Unveiling Enzo Maresca’s Club World Cup Strategies, Reasons Behind Possible Drop in Pursuing Alejandro Garnacho, and Acknowledging Love Island

Back in 1976, Philadelphia Eagles head coach Dick Vermeil asked the team’s supporters…

Arsenal Goalkeeper Sports Comical Stag Do Attire on Las Vegas Flight

Stag dos are a worldwide tradition in wedding culture. After the groom-to-be…