HMRC investigations into footballers treble
Andrew Parkes, National Technical Director, comments in relation to the news that HMRC investigations into footballers have almost trebled in the last year.
Andrew’s comments were published in CityWire Wealth Manager and Financial Planning Today, 10 August 2020, and can be found here and here respectively. Andrew’s comments were also published in Tax Journal, 20 August 2020, and can be found here.
“HM Revenue & Customs (HMRC) investigations into footballers has almost trebled from 87 to 246 in the last year on concern that ‘image rights’ were being use to avoid tax.
According to accountancy firm UHY Hacker Young, HMRC is targeting what it sees as over-aggressive use of image rights deals, used by celebrities to manage their commercial endorsement and advertising fees from around the world…
Commenting on the findings, Andersen technical director Andrew Parkes, said: ‘HMRC have clearly tested the water and realised that there are rich pickings from lower division footballers who are being paid for their image rights as if they are Ballon d’Or winners.’”