Am not sure what the rules are but I as per the article i posted, players would effectively be companies and subject to corporation tax rather than income tax. It's not something I know a lot about except if you earn enough, you can afford to pay really clever people who do!!!
Yes they are, in the UK at least. HMRC closed the door on LTD company payments, as the player is contracted to 1 club and is therefore an employee not a contractor.
But it appears that image rights payments can be to a limited company....so it's merely juggling the %'s to save tax it seems. Either way, I'd stake everything I own on it: Footballers will not pay the full PAYE tax like you and I on their entire earnings. They'll all be on the tax fiddle!!
You're more than welcome to set up a company for your image rights as well As I said, I don't know much about UK income tax law, but after corporate income tax the money is still in the company, i.e. if they want the money as part of their personal income e.g. as a dividend, then I presume tax would be paid on that as well. EDIT: Capital gains tax rate appears to currently be 18%-28% (http://www.hmrc.gov.uk/rates/cgt.htm) So as I understand it, at a corporate tax rate of 21%, that would be a total of 39% to 49% on the tax basis (exlcuding allowances, deductions etc.). If anyone knows better, then please feel free to correct this!
Conor Coady has signed for Huddersfield. I like the Falcao thing season long loan with a view to buy.
2+2 is Pi... Won't ever happen... Falcao to LFC not in a Million years! BTW when's the Moreno news gonna break? Lack of lean in the last signings pictures was very disturbing, Moreno if/when signed better be doing a limbo dance to make up for it!
I love the idea of Tevez, ripping open his wage slip to see how much he's picked up at the end of the month. Then moaning like **** about NI and the tax man. Do you think he had enough to get a couple of beers in with his monthly shop.
