Sporting Intelligence reports this morning that:
Leading football clubs are being heavily targeted by HMRC over perks afforded to players and WAGs — partially because the taxman has already received information and tip-offs relating to major financial discrepancies at at least one top Premier League club, Sportingintelligence can reveal.
The finance directors at all Premier League were recently sent a questionnaire containing 181 questions looking closely into the financial affairs of the clubs and players, specifically the issue of perks, as HMRC looks to crack down on blatant abuses of the system.
And as they also note:
The sheer scale of the questionnaire has surprised even tax experts.
Sportingintelligence can exclusively reveal the questions from the questionnaire, including:
- 4.14 Are any payments made into trusts or sub-trusts, whether in the UK or abroad, for which employees or family members are, or are potentially, the beneficiaries?
- 1.2 Are any expenses paid, or benefits provided, to players' or other employees' spouses, partners or other family members, whether in the UK or abroad?
- 11.6 Has the club paid any expenses relating to an employee's private holiday costs? If so please provide details.
- 11.7 Are there any circumstances where the cost of spouse travel will be paid for by the Company? If so please provide details.
- 22.1 Are complimentary tickets, use of a box, etc. provided for employees? If so please provide full details.
Sportingintelligence also understands the tax affairs of foreign players will come under greater scrutiny. In some cases players have been found not to have paid National Insurance contributions (NIC). Other questions asked:
- 5.3 How does the club treat payments to foreign players for payroll purposes?
- 4.2 What controls are in place to ensure that any amounts which are paid out are treated correctly for tax and NI purposes?
Quite right too.
Rumour has it there's not just smoke in this case, but a fire too. And tackling such issues in such a high profile way is wholly appropriate.
And there's much more in the article than the bits I've noted.
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I hope that Arsenal players are not implicated in this as the husband will be unhappy ! I seem to recollect that one of their signings from Russia was surprised about the amount of tax he would pay, so it might be possible that the club is involved.
Glad to see that the ‘image rights’ nonsense and big cash loans / payments to offshore trusts are being looked at too.
I think you’ll find that all are implicated.
After all, they will all use accountants and solicitors so will all have the same “good” advice
While we are at it, surely the time has come for an expose on the tax affairs of FIFA and the ridiculous arrangements that the “Olympic family” demand?
The leading clubs, or many of them, have been suspect for some time for their money arrangements and the rest. It is not just the players, it is the cloud of agents and gofers around them as well. The fact that this clean up was not attempted years ago is down to politicians nervous of hostile reactions from this particular class of celebrity and their media hungry managers. Support Corinthian Casuals.
I only can confirm that is the case, the Swiss Whistleblower!