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| Quote ="SmokeyTA"As any sensibly run business would.'"
 That ring fence must of cost a few quid in itself |
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This thread seams to have been a nice distraction. I did not know we had so many people interested in the tax system.
I note the OP says clubs, so before people start hurling stones, it maybe wise to point out that clubs is a collective term that why not including your own club explicitly, neither does it eliminate them.
So there could be image rights to pay at anything between 2 to all clubs.
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Weren't tax and NI payments taken off the cap a few years back?
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What a farce.
The saddest thing is that I am not surprised at all.
Professional RL in this country is run by hypocritical clowns.
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| Quote ="Orrell Lad"Leeds should be fine if they are one of the affected clubs. They have money 'ring-fenced' for this sort of thing.'"
I can't believe that none of you are aware of this. Leeds have been running a test case with HMRC for the past couple of years. |
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| Quote ="Teessidewire"I can't believe that none of you are aware of this. Leeds have been running a test case with HMRC for the past couple of years.'"
And why do you think the South Stand new development has been pulled back?  |
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| Quote ="Rogues Gallery"And why do you think the South Stand new development has been pulled back?
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You mean somebody skipped over the ring fence?  |
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| Quote ="DaveO"The club effectively buys the image rights off the player. That is the player gives his club his image rights and so the club pays him for them.
So as the club is paying him money it is (now) deemed as taxable income and so as his employer they ought to have collected PAYE. The fact they didn't means they are liable as it is employers who are deemed to have not paid enough PAYE. They may try and go back to the player to get the cash but they would have a pretty hard time doing so as he would say he was contracted to receive the [unet [/uincome he actually got.
Tax has to be paid on whatever he was paid as income so if he got £50K tax free for image rights then assuming he already earns £50K in wages he is taxed on then there is now a tax bill of £20K (40% of £50K) and the tax man will chase the club for it.'"
i'll take your word for it Dave......and leave the thread and go log into IM CONFUSED DOT COM  |
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| Quote ="Teessidewire"I can't believe that none of you are aware of this. Leeds have been running a test case with HMRC for the past couple of years.'"
Never mind |
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| Quote ="Teessidewire"I can't believe that none of you are aware of this. Leeds have been running a test case with HMRC for the past couple of years.'"
Most were aware of this and tbh if this if true is not breakink the spirit of the cap then why did we get screwed when we got some contracts leagally changed. RFL is so corrupt Robert Mugabi is jealous. |
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That ring fence must of cost a few quid in itself
