Over the last few months we have discussed on a number of occasions the increased interest by Revenue and Customs in how clubs conduct their tax affairs. This is not surprising given the fiscal climate and increasing evidence that clubs take a cavalier approach to their tax liabiiities to the disadvantage of taxpayers in general.
Over the last few months we have discussed on a number of occasions the increased interest by Revenue and Customs in how clubs conduct their tax affairs. This is not surprising given the fiscal climate and increasing evidence that clubs take a cavalier approach to their tax liabiiities to the disadvantage of taxpayers in general.
This article discusses the general issue against the background of the financial climate in football, but places particular emphasis on the use by clubs of Employee Benefit Trusts (EBTs). Arsenal had to pay a substantial settlement over its use of these devices some years ago. Now the taxman’s attention has turned to the use of them by Rangers. The club is thought to have paid £50m to playres in this way between 2001 and 2009.