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

Benfica Player Admits to Using Anti-Gay Slur Against Vinicius Jr During UEFA Investigation into Alleged Racist Remarks

Gianluca Prestianni has informed UEFA that he used a homophobic slur against…

Meet Pien Meulensteen: Sky Sports Star and Daughter of the Coach Behind Cristiano Ronaldo’s Success

A captivating Sky Sports presenter recently caught the public’s eye after vacationing…

Inside the Women’s Football World: Unveiling the Controversy Surrounding Eni Aluko and Her Untapped Potential

When Eni Aluko guested on a popular podcast, it initially seemed like…

Darren Fletcher’s Decision to Overlook Michael Carrick for Manchester United Position Explained

Michael Carrick and Darren Fletcher have a long history together, having once…

Team USA Hockey Star Jake Guentzel Finally Speaks Out on Snubbing Trump and State of the Union

Jake Guentzel, a standout player for Team USA hockey, has clarified his…

Arne Slot Dismisses Wayne Rooney’s Critique: The Secret Aura of a Winning Manager

Arne Slot has responded to Wayne Rooney’s assertion that he lacks the…

Shocking Twist in Johnny Gaudreau Murder Case: New Test Results Cast Doubt on Verdict

In a recent development, the defense lawyer for the man accused of…

Inside Eric Ramsay’s Brief West Brom Stint: Interview Secrets, Overlooked Talent, Training Tensions, and a Tactical Misstep in Relegation Fight

The most unsettling aspect of Eric Ramsay’s brief 44-day stint at West…