Footballers and Celebrities Targeted by HMRC

HMRC is to investigate how footballers, clubs and agents have avoided paying tax.

Recently, HMRC confirmed that a number of footballers and celebrities were under investigation particularly in relation to image rights. According to a senior HMRC official, 43 football players and 12 clubs were in the spotlight, alongside eight football agents.

It was also confirmed that HMRC is looking at the issue in relation to the wider entertainment industry.

It has been alleged that a number of stars are using private offshore companies to exploit legal loopholes in order to avoid paying tax. According to reports, the loophole allows the stars to reduce the amount of income tax they pay by offsetting income against image rights payments.

HMRC told MPs last week that its special taskforce has recovered £158m in unpaid tax as a result of investigations into tax avoidance in the football industry.

A number of celebrities have also been accused of avoiding tax by investing tax avoidance schemes to encourage economic growth in enterprise zones.

Specifically, two schemes relating to the build of two data centres in the North East have been named and it is believed that some individuals have received Accelerated Payment Notices (APNs) from HMRC requiring the repayment of unpaid tax.

The tax avoidance schemes allowed investors to gain a higher margin of tax relief than they actually invested in the schemes.

Our team of tax investigations professionals assist individuals in HMRC investigations and in making voluntary disclosures of unpaid tax.

We offer a free initial phone consultation to discuss your circumstances in complete confidence. You can call our team on 0113 387 5670.

Alternatively, you can email us at enquiries@forthsonline.co.uk or fill out an Enquiry Form and we will contact you directly.