Wage cap...

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R

Redandwhiteoxford

Member
Jan 26, 2011
510
8
18
Murton, County Durham
...what is it?

The reason I ask is everyone on here seems to think they have the inside knowledge on what our wage cap actually is. Time after time people say "he won't come because of our wage cap" or "his wages are too high for our bracket".

Does anyone actually know? If they do can they please provide a link to the source.

No funny HP sauce or kecthup links....

Thanks
 
Im not sure what it is or if we have a one.

if we do have one & i had to guess i would say around 50k a week
 
Why when talking about wages do we mention footballers pay per week ? Is it just embarrassing to say £200,000 + a month ! I understand it's what everyone is paying and we need to keep up but it's just madness !
 
Johnny Johnson said:
Why when talking about wages do we mention footballers pay per week ? Is it just embarrassing to say £200,000 + a month ! I understand it's what everyone is paying and we need to keep up but it's just madness !
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Had this very same conversation last night..

Do players get paid weekly or monthly?

Iv'e no idea, but when people talk about their wages, it's always weekly..

Anyone know?
 
commachio said:
Had this very same conversation last night..

Do players get paid weekly or monthly?

Iv'e no idea, but when people talk about their wages, it's always weekly..

Anyone know?
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Remember a couple of years back one of Crespo's Chelsea pay slips found it's way onto the web, and it was monthly.

He'd been taxed 400k or summat, i'll see if I can find it.

EDIT... here it is....

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I very much doubt any of them get paid on PAYE anymore. If they are smart they would have a limited company and be an employee of that company, then pay themselves the minimum wage and a share dividend. That way they would only pay the tax and avoid paying NI. The clubs would also avoid paying employers NI.

With a smart accountant I bet they only pay about 10% of their wages in tax.
 
Lostinvegas said:
I very much doubt any of them get paid on PAYE anymore. If they are smart they would have a limited company and be an employee of that company, then pay themselves the minimum wage and a share dividend. That way they would only pay the tax and avoid paying NI. The clubs would also avoid paying employers NI.

With a smart accountant I bet they only pay about 10% of their wages in tax.
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I agree - the will be working for themselves. So no-one knows the answer to my original question then. Thanks all....
 
I reckon the above would be a sham contractor situation and a scheme designed solely to avoid tax. Your inland revenue guys would go nuts over it! The really smart ones would minimise their tax through investment deductions (e.g. property). The really dumb ones (and there's many!) pay full tax, collect sports cars that plummet in value, do drugs/alcohol and end up a lot poorer than they should be, or even in the gutter!
 
Meniscus said:
I reckon the above would be a sham contractor situation and a scheme designed solely to avoid tax. Your inland revenue guys would go nuts over it! The really smart ones would minimise their tax through investment deductions (e.g. property). The really dumb ones (and there's many!) pay full tax, collect sports cars that plummet in value, do drugs/alcohol and end up a lot poorer than they should be, or even in the gutter!
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Sounds like a lot more fun though ;)
 
Meniscus said:
I reckon the above would be a sham contractor situation and a scheme designed solely to avoid tax. Your inland revenue guys would go nuts over it! The really smart ones would minimise their tax through investment deductions (e.g. property). The really dumb ones (and there's many!) pay full tax, collect sports cars that plummet in value, do drugs/alcohol and end up a lot poorer than they should be, or even in the gutter!
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MONsMush said:
Sounds like a lot more fun though ;)
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"I spent a lot of money on booze, birds and fast cars. The rest I just squandered" - George Best
 
Meniscus said:
I reckon the above would be a sham contractor situation and a scheme designed solely to avoid tax. Your inland revenue guys would go nuts over it! The really smart ones would minimise their tax through investment deductions (e.g. property). The really dumb ones (and there's many!) pay full tax, collect sports cars that plummet in value, do drugs/alcohol and end up a lot poorer than they should be, or even in the gutter!
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I'm sorry, but I can't go with this..For people to earn the money they do and then not pay full tax, is in my opinion immoral...If the government, inland revenue and the courts spent the time, money and effort plugging all the loopholes for the rich as they currently do for tracking down the poor who are just trying to scrape a living, then we would all be better off..
 
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