HMRC Recovers £124.8m in Unpaid Tax from Premier League Clubs
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HMRC investigators have recovered a record-breaking £124.8 million in unpaid tax from Premier League clubs in the year to 31 March 2023. This is a significant increase from the £58.7 million recovered the previous tax year, according to figures compiled by accountancy group UHY Hacker Young.
The reclaimed payments included National Insurance on agents’ fees and image rights, plus tax on benefits in kind. These benefits in kind included flights and hotels for Premier League players and families.
HMRC’s Response
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In response to the figures, HMRC released a statement saying: “We will continue to carefully scrutinise arrangements between clubs, players and agents to ensure the correct tax is paid. We work closely with the football industry to educate and deal with tax risk head on.”
UHY Hacker Young’s Response
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Elliott Buss, of UHY Hacker Young, commented on the figures saying: “HMRC now have these clubs’ tax affairs in their sights. The growing proportion of agents’ fees being paid by clubs is drawing the attention of the taxman to the possibility that not all tax due on these payments is being paid.”
Conclusion
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The figures released by HMRC and UHY Hacker Young show that the taxman is taking a firm stance on ensuring that Premier League clubs are paying the correct amount of tax. With HMRC now having their sights firmly set on the football industry, it is likely that we will see further increases in the amount of unpaid tax recovered in the coming years.
Image Credit: The official Premier League football | BBC Sport