EPL’s dirty tax secret

In Uncategorized on 20/03/2010 at 5:22 am

The EPL is trying to to broker a deal with the UK tax authorities on behalf of its clubs and players to protect their sponsorship deals and prevent the loss of up to £100m ($156m) in taxes.

The tax people are investigating many of the deals struck between clubs and the “image-rights” companies set up by players to enhance and protect their public profile. Clubs are paying some money into image-rights companies that tend to be based offshore and are therefore out of reach of tax officials.  Players in return are accepting lower wages, and thus pay lower income tax.  Win-win for both sides but not the tax authorities.

Apparently the authorities have raided some clubs.

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