HMRC investigates tax affairs of 44 league clubs and 171 players
More than 40 football clubs and 170 professional footballers are having their tax affairs investigated by HM Revenue & Customs.
UK tax authorities have clawed back in excess of £330m in tax revenue from the football industry since 2015-16.
HMRC has confirmed it is currently looking into tax information concerning 44 league clubs, 171 players and 31 agents as it continues to crack down on the sport.
The numbers mark a sharp increase from September last year when HMRC was investigating 90 players, 38 clubs and 13 agents.
„We carefully scrutinise the individual arrangements between football clubs and their players to make sure the right tax is being paid in the UK,“ a spokesman for HMRC said in a statement.
„HMRC is currently making enquiries into 171 footballers, 44 football clubs and 31 agents for a range of issues, including image rights abuse.
„HMRC rigorously enforces the rules and has brought in £332m in extra tax by tackling non-compliance in the football industry.“
HMRC established its specialist Football Compliance Project in 2017 to oversee all of its compliance activities within the football industry.
Accountancy group UHY Hacker Young claims HMRC is increasingly engaging in ‘fishing’ expeditions to catch players out over image rights payments which it believes are being used to avoid tax.
Image rights enable players to exploit their image for commercial value through sponsorship and endorsements. Since 2000, players have been able to treat image rights income separately to money earned from playing the game.
Nick Hall, tax manager at UHY Hacker Young, said in a statement: „HMRC sees the football industry as another potential cash cow and is coming down hard on players and clubs.
„HMRC’s focus on the football industry has been sharpened since a 2017 House of Commons report concluded that tax avoidance in the sport was becoming widespread.
„Players need to be careful as tax investigations can be hugely damaging both financially and reputationally.
„Handled correctly, image rights companies can form part of a responsible tax plan for players. However, the tendency of some to push the boundaries has led to HMRC paying close attention to these structures, alongside other key areas such as payments to agents.“
Soccer Accumulator Bonus
Our fantastic Euro Soccer accumulator offer gives you the chance to earn a bonus of up to 100% on accumulators on the top domestic leagues in Europe along with the group and knockout stages of the Champions League.
This offer applies to returns on pre-match accumulators of 3 or more selections on Full Time Result or Result/Both Teams To Score markets for the English Premier League, Italian Serie A, Spanish Primera Liga, German Bundesliga 1 or UEFA Champions League.
The maximum bonus that you can receive is ˆ100,000 or currency equivalent. The bonus will not apply where a stake has been fully Cashed Out. Where a stake has been partially Cashed Out, the bonus will be calculated based .on the remaining active stake. If a qualifying bet is edited .using our Edit Bet feature. The bonus will be calculated based on the new stake. Where a bet has been edited to include or amend a selection for an event that is In-Play, the bonus will no longer apply. Double Chance bets or combination bets with bonuses. Such as Lucky 15’s or Lucky .31’s do not apply for this offer.
If your bet is successful, we will add the following bonuses to your returns:
Bet Type Bonus
14-folds and upwards 100% bonus
Terms and Conditions
Applies to straight pre-match accumulator bets on the Full Time Result or Result/Both Teams To Score markets for UEFA Champions League, English Premier League, Italian Serie A, Spanish Primera Liga, German Bundesliga .1 or Australian A-League matches. Maximum bonus ˆ100,000 or currency equivalent. Soccer Accumulator Bonus does not apply to Double Chance bets or combination. bets with bonuses such as Lucky 15’s, Lucky 31’s etc.
If any selections are postponed/void then the bonus will still apply, but the percentage bonus added will reflect the actual number of winning selections. For example, an 8-fold accumulator with 7. winners and 1 postponed match will receive a 30% .bonus to returns.
The bonus part of your returns will be added to your account within 24 hours of your final selection having played.
This bonus will not apply where a stake has been fully Cashed Out. Where a stake has been partially Cashed Out, the bonus will be calculated based on the remaining active stake.
If a qualifying bet is edited using our Edit Bet feature, the bonus will be calculated based on the new stake. Where a bet has been edited to include or amend a selection for an event that is In-Play, the bonus will no longer apply.
Where any term of the offer or promotion is breached or there is any evidence of a series of bets placed by a customer or group of customers, which due to a deposit bonus, enhanced payments, free bets, risk free bets or any other promotional offer results in guaranteed customer profits irrespective of the outcome, whether individually or as part of a group, bet365 reserves the right to reclaim the bonus element of such offers and in their absolute discretion either settle bets at the correct odds, void the free and risk free. bets or void any bet funded by the deposit bonus.
In addition bet365 .reserve the right to levy an administration charge on the customer up to the value of the deposit bonus, free bet, risk free bet or additional payment to cover administrative costs. We further reserve the right to ask any customer to provide sufficient documentation for us to be satisfied in our absolute discretion as to the customer’s identity prior to us crediting any bonus, free bet, risk free bet or offer to their account.
All bet365 offers are intended for recreational players and bet365 may in its sole discretion limit the eligibility of customers to participate in all or part of any promotion.
.
