Uk Pro Footballers:

[enuff said]

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Hello to all.

I have a friend that says pro football players in the UK don't pay taxes like other people. They have a special rate or something.

I know I have heard Brits complain about paying high income taxes and I can't believe they would allow one group of people to beat the system because they are sports stars.

Anyone know the facts about this?

'nuff said

~

[StateSix]

.

Hello to all.

I have a friend that says pro football players in the UK don't pay taxes like other people. They have a special rate or something.

I know I have heard Brits complain about paying high income taxes and I can't believe they would allow one group of people to beat the system because they are sports stars.

Anyone know the facts about this?

'nuff said

~

If they have a contract then they will be liable to be taxed (PAYE and NI) on salaries, bonuses, appearance money and any payment related to services for the club according to the F.A. This will be at usual rates. They will of course have advisors who will claim every bit of relief available. They can also officially retire at 35 and take a retirement annuity, as opposed to 50 for most people. Their contribution limits and earnings caps for personal pensions is the same as everyone else.

A couple of years ago John Arne Riises wage slip was on the net. It showed total payments of GBP 139,634.62 with deductions of GBP 57,220, or 41%. It stated "Period : Week No. 24", indicating it was weekly rather than monthly. This would mean he earned GBP 82,414.62 per week after tax which seems pretty high for a player of his level. His basic salary is shown as GBP 120,000, and would be more realistic if it was per month.

The slip can be seen at http://www.thesun.co.uk/sol/homepage/news/article405958.ece

[H2oDunc]

Warren Buffet who was the richest guy in the world up to the crunch admitted that his secretary paid more tax than he did. When you are in the super salary league you pay an accountant rather than the tax man. I bet Beckham Inc pays zero or very little tax as it will all be protected in offshore accounts etc.

[StateSix]

Warren Buffet won't draw a salary though, he will be paid in different ways. When Beckham played for Man U he was an employee drawing a salary which had to be subject to UK tax. His clever accountant would have found numerous ways to offset it, but he still would have been paying a lot. All his sponsorhip and endorsment fees etc would likely be paid to various companies structured to minimise any tax payments though.