The Solicitor - The FindLaw UK Life, Family and Workplace Law Blog

Premier League Footballers In Tax Probe Over Image Rights Income

| No TrackBacks

According to the , HM Revenue & Customs has set its sights on a number of high-earning Premier League footballers who receive image rights payments.

The paper claims current arrangements allow players to avoid paying an estimated £100 million a year in tax for off-field earnings by receiving payments indirectly via service companies they own.

The players' companies pay , but only at rates of 21% or 28%.

This allows players to avoid paying at rates of up to 40% (and soon ).  Players and clubs also avoid having to pay .

Overseas players have even more to gain from the status quo: many own service companies based abroad - for example, in tax havens like the British Virgin Islands - which allows them to avoid paying even more UK tax.

Recently, in the case between , the court heard the player receives £760,000 a year for his image rights.

Given Rooney currently sits a little lower on the  than a number of his England teammates, it's conceivable that the likes of John Terry, Frank Lampard, and Rio Ferdinand earn £1 million or more a year in image rights payments. 

** Additional info & advice on UK tax law ** 

Read more about  on .

Alternatively, you may want to .  You can in your area for free via , which can also help you to understand the best course of action for your situation and whether you are even ready to .

No TrackBacks

TrackBack URL: http://blogs.findlaw.co.uk/mt-bin/mt-tb.cgi/48118