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

Gary Lineker Criticizes Thomas Tuchel’s ‘Odd’ Approach to England Star with ‘Bizarre’ Pre-World Cup Remarks

Gary Lineker has taken issue with Thomas Tuchel’s past comments about Real…

David Beckham’s Ex-Manager in Shocking Video Targeting UFC Star Son-in-Law Amid Cheating Allegations

David Beckham’s former manager has issued a stern warning to his UFC…

Analyzing Spurs’ Relegation Risk: Persistent Challenges Post-Thomas Frank Era and Concerns Over a Key Player, Explores Ian Ladyman

There have been changes at Tottenham Hotspur, yet it seems the core…

Jose Mourinho Responds to Vinicius Jr’s Racism Claims with Controversial Comments on Benfica’s Legacy

Jose Mourinho has stirred up controversy by claiming that Vinicius Jr provokes…

Exploring Newcastle Fans’ Epic 2,529-Mile Journey to Qarabag: Over 2,000 Devoted Supporters Head to Azerbaijan for a Budget-Friendly Adventure Despite Limited Rest

For passionate football supporters, trailing their team across Europe is a dream…

Football Stars’ Off-Pitch Adventures: Bruno Fernandes, Manuel Ugarte, Harry Maguire, and Jarrod Bowen Enjoy Exotic Getaways

Manchester United’s Bruno Fernandes and Manuel Ugarte were among several Premier League…

Celtic Manager Martin O’Neill Criticizes VAR Following Contentious Loss to Hibs, Complicating Title Pursuit

Martin O’Neill has openly criticized VAR official Grant Irvine following a dramatic…