Tax & Footballers

[MarillionFan]

I just came across a good article debunking the DM article and clarifying things: Tax tease: Inaccurate Footie Tax story resurrected as ‘news’ | FavStocks

HAH!

[AtW]

So, in conclusion footballers are so stupid that they opted to 2% loan from their own company thinking they cut down taxes to that level?

[MarillionFan]

Well, if they pay dividends then their company surely should pay Corp Tax - 28% currently if they get over £1 mln, plus they pay income tax 32.5% (50% rate taxpayer).

So, in conclusion footballers are so stupid that they opted to 2% loan from their own company thinking they cut down taxes to that level?

No. In conclusion. The Daily Mail printed a bollocks story and you went off on a tangent not realising it was bollocks because you have no idea about how to run a business, economics or tax.

Clear now?

MF

[centurian]

Well, if they pay dividends then their company surely should pay Corp Tax - 28% currently if they get over £1 mln, plus they pay income tax 32.5% (50% rate taxpayer).

That assumes that they take it out now - footballers have short careers. Better to let it accumulate, then trickle it out, or close it down and pay Entrepreneurs rate of 10% or CGT.

Also the loan stuff appears to be a tax defference measure, rather than avoidance. They're hoping that the 50% tax rate is temporary, but if it doesn't, they'll end up with less money than if they'd just taken the salary.

[centurian]

Mind you - why don't that UK Uncut bunch start picketing Old Trafford on match days. After all, it seems that footballers are tax avoiders just like Philip Green.

Let's see if they have the balls (no pun intended) to do it. Almost certainly not.

[AtW]

Clear now?

MF

Less of it graaaaaaaaaaaand daaaaaaaad.

If you don't have anything positive to say then shut the feck up and go feed your hungry kids.

Milan

[SueEllen]

That assumes that they take it out now - footballers have short careers. Better to let it accumulate, then trickle it out, or close it down and pay Entrepreneurs rate of 10% or CGT.

They can shove it into their pension plan as sports people are allowed to access their pensions at 35.

[MarillionFan]

They can shove it into their pension plan as sports people are allowed to access their pensions at 35.

35. What? Are you sure? Is being a professional piss head definition of being a sportsman?

[d000hg]

35. What? Are you sure? Is being a professional piss head definition of being a sportsman?

Maybe if you play darts.

[AtW]

Maybe if you play darts.

MF is more into -