comparemela.com

Latest Breaking News On - 410 9 million - Page 1 : comparemela.com

Transcripts for BBCNEWS BBC News 20240604 08:15:00

when a football player pays their agent s fee out of their own pocket, that transaction attracts income tax, national insurance and vat. but if half of that agent s fee is paid directly by the club, that half of the fee attracts none of these taxes. so we ve been able to use fa published data and some conservative statistical assumptions to estimate that over three years, 250 million quid was not paid in tax that should have been paid. and over seven years, a70 million so that s almost half a billion quid failed to be paid. it s estimated that of the £81 million that wasn t paid by the league because of dual representation agent fees in 2021, manchester city accounted for 10.9 million. this was followed by manchester united with ten million and liverpool with 8.1 million. newsnight understands hmrc is investigating the use of dual representation by top clubs, but they haven t told us which clubs.

Half
Agent
Transaction
Taxes
The-club
Vat
Fee
Income-tax
Football-player
Insurance
Pocket
None

Transcripts for BBCNEWS BBC News 20240604 10:54:00

million that wasn t paid by the league because of dual representation agent fees in 2021, manchester city accounted for 10.9 million. this was followed by manchester united with ten million and liverpool with 8.1 million. newsnight understands hmrc is investigating the use of dual representation by top clubs, but they haven t told us which clubs. and the public accounts committee, which scrutinises hmrc on behalf of parliament and all of us, they want answers and action too. given the information that you and i have seen, i can t see why hmrc isn t clamping down pretty quickly right now. the key thing is we ve got our beady eye on both how hmrc are dealing with this, but also this big tax avoidance issue. all premier league clubs declined to comment, but the association of football agents insisted that most are genuinely providing services to clubs too and so dual representation schemes are tax compliant. a top sports barrister agrees.

Agent
Representation
Fees
League
Wasn-t
Manchester-united
Manchester-city
Ten-million
2021
48-1-million
410-9-million
Clubs

Transcripts for BBCNEWS BBC News 20240604 09:31:00

that half of the fee attracts none of these taxes. so we ve been able to use fa published data and some conservative statistical assumptions to estimate that over three years, 250 million quid was not paid in tax that should have been paid. and over seven years, 470 million so that s almost half a billion quid failed to be paid. it s estimated that of the £81 million that wasn t paid by the league because of dual representation agent fees in 2021, manchester city accounted for 10.9 million. this was followed by manchester united with ten million and liverpool with 8.1 million. newsnight understands hmrc is investigating the use of dual representation by top clubs, but they haven t told us which clubs. and the public accounts committee, which scrutinises hmrc on behalf of parliament and all of us, they want answers and action too.

Tax
Half
Taxes
Fee
None
Assumptions
Data
Efa
250-million
Three
League
Wasn-t

Transcripts for BBCNEWS BBC News 20240604 11:50:00

who they represent, and also by the club who is buying the player. when a football player pays their agent s fee out of their own pocket, that transaction attracts income tax, national insurance and vat. but if half of that agent s fee is paid directly by the club, that half of the fee attracts none of these taxes. so we ve been able to use fa published data and some conservative statistical assumptions to estimate that over three years, 250 million quid was not paid in tax that should have been paid. and over seven years, a70 million so that s almost half a billion quid failed to be paid. it s estimated that of the £81 million that wasn t paid by the league because of dual representation agent fees in 2021, manchester city accounted for 10.9 million. this was followed by manchester united with ten million and liverpool with 8.1 million. newsnight understands hmrc is investigating the use of dual

Agent
Transaction
Half
Player
Fee
Income-tax
Football-player
Insurance
The-club
Vat
Pocket
Agent-s-fee

Transcripts for BBCNEWS BBC News at One 20240604 12:24:00

this is where the agent is getting paid by both the player, who they represent, and also by the club who is buying the player. when a football player pays their agent s fee out of their own pocket, that transaction attracts income tax, national insurance and vat. but if half of that agent s fee is paid directly by the club, that half of the fee attracts none of these taxes. so we ve been able to use fa published data and some conservative statistical assumptions to estimate that over three years, 250 million quid was not paid in tax that should have been paid. and over seven years, a70 million so that s almost half a billion quid failed to be paid. it s estimated that of the £81 million that wasn t paid by the league because of dual representation agent fees in 2021, manchester city accounted for 10.9 million. this was followed by manchester united with ten million and liverpool with 8.1 million. newsnight understands hmrc

Agent
Transaction
Fee
Player
Income-tax
Both
Football-player
The-club
Pocket
Insurance
Vat
Tax

© 2024 Vimarsana

vimarsana © 2020. All Rights Reserved.