Tax
Former Football Stars To Pay HMRC Tax Bill
The UK tax collector is continuing its crackdown on tax avoidance within football.
Former Rangers stars, who benefited from a controversial tax
avoidance scheme, have just days left to come up with a payback
plan – or face legal action, according to the Daily
Record.
HMRC is trying to
recoup millions of pounds from Employee Benefits Trusts (EBT),
which were operated by the Ibrox side. The UK tax collector won a
court battle against the Rangers stars after a Supreme Court
ruling last July said that EBT payments made when Sir David
Murray was chairman were not loans but earnings that should have
been taxed.
According to reports, the bill stands at £24 million ($32
million) – half of the £48 million that Rangers paid out in
EBT payments to directors, managers, players and staff.
HMRC has reportedly sent out notices requesting payback from
those who were part of the schemes. It has set a deadline of
Thursday to open up negotiations on a settlement deal.
Many former Rangers stars are due to be hit by the payback
notices, including Stefan Klos and Barry Ferguson. Former club
owner Sir David Murray is also due to be hit with a reported bill
of £3 million.
This is part of a strategic tax crackdown by HMRC, which is also
targeting users of disguised remuneration tax avoidance schemes
in thousands of other businesses. This publication
reported in April that HMRC is investigating 181 footballers
at 51 Premier League and Football League clubs in a huge probe
into tax avoidance linked to image rights payments.