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Footballers Move With Tax Rates

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International mobility among football players has recently been the subject of heated discussion in the UK in connection with the increase in the top marginal tax rate from 40% to 50%. Supposedly, the star player Cristiano Ronaldo moved from Manchester United to Real Madrid in 2009 partly to avoid the announced 50% tax in the UK and instead benefit from the so-called “Beckham Law” in Spain, a preferential tax scheme offering a flat tax of 24% to foreign residents. (The nickname for this tax scheme was coined a few years earlier when another star player, David Beckham, also moved from Manchester United to Real Madrid to benefit from the scheme.) Arsene Wenger, the emblematic manager of Arsenal FC, commented on the UK tax reform by saying that “with the new taxation system, (...), the domination of the Premier League will go, that is for sure” (The Sunday Times, 25 April, 2009).

http://www.voxeu.org/index.php?q=node/5988

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I don't think that English clubs need be worried for too much longer. Spain have set a target of a 6% deficit for 2011, so they have no choice but to hike their upper tax rate. I predict that 50%+ tax rates for "higher earners" will be commonplace by 2015.

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I don't think that English clubs need be worried for too much longer. Spain have set a target of a 6% deficit for 2011, so they have no choice but to hike their upper tax rate. I predict that 50%+ tax rates for "higher earners" will be commonplace by 2015.

Spain will introduce special taxation rights for the Galacticos <_<

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Who cares?

Top class footballers seem to be as over-rated as top class bankers...

True enough, but countless armies of muppets, sorry 'fans', pay 30+ quid a week to stand in a foreign-private-equity owned stadium to watch a bunch of foreign prima donnas play football for their Russian-criminal-owned 'local' club!

Retards.

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These stories are daft. The average man on the street has more to worry about than whether bankers or footballers leave the economy. The purpose of these stories is to instill fear - when the high rollers roll out then the good times are gone sort of thing. But for the vast majority of two bob millionaires the good times HAVE gone because the credit has run out and now is not the time to be worrying about the impact of a tax rate they will never, ever pay anyway.

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Erm footballers don't pay normal tax anyway their earnings are averaged out over their lifetimes if they choose to. I did some side work for a footballer the other week, he chose not to and paid an eyewatering 800K in income tax.

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Let them go to Qatar.

FIFA the laughing stock, its already gone from air conditioned stadium, to "ok we had better have he games in winter! " So much for the technical assessment. lol

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Erm footballers don't pay normal tax anyway their earnings are averaged out over their lifetimes if they choose to. I did some side work for a footballer the other week, he chose not to and paid an eyewatering 800K in income tax.

Could you post a link for this rule.

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Could you post a link for this rule.

Meh, I can't. I think it must have been repealled in the last 3-4 years. I always remember in my tax classes being told this, as well as Cliff my first boss telling me this rule. The averaging still applies to artists though.

Edited by ken_ichikawa

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Quote 'ken_ichikawa'

Meh, I can't. I think it must have been repealled in the last 3-4 years. I always remember in my tax classes being told this, as well as Cliff my first boss telling me this rule. The averaging still applies to artists though.

Sorry could you link that rule on the HMRC site for us, I've never heard of that.

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Don't most top flight footballers have complicated pay arrangements to avoid tax anyway?

Things like image rights being paid to offshore companies that don't pay tax.

I think the case Agassi vs HMRC (HMRC won) closed this little hole meaning lots of atheletes did not bother coming to the UK as they would be taxed on lots of things. Usain bolt was on the tax wire.

Regarding the tax averaging, either I'm pretty sure I've read about it and been spoken to about it by several people. Maybe I'm wrong since I've been out of accountancy and tax for 2 years now.

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These tax exceptions fascinate me as I can see why the likes of Blair thinks that having all those fronts to avoid tax is acceptable in the eyes of the public, when in reality they can see straight through them.

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Who cares?

Top class footballers seem to be as over-rated as top class bankers...

Exactly - we used to do far better internationally when players were on a hundred thousand a year and got a £20,000 retirement match gift.

As they now get paid so much - they don't give a toss.

I never realised Beckham was a serial tax dodger.

Expects middle/poorer Englanders to do their duty contributing Millions to his salary - yet avoids contributing his share back into our system to keep NHS and schools afloat.

He should have his OBE confiscated - the treacherous scumbag!

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