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Premier League seeks HMRC tax deal
The Premier League is seeking a deal with HM Revenue & Customs (HMRC) this week as part of plans to protect sponsorship and try to retain as much as £100 million in taxes.
HMRC is currently investigating the validity of a number of deals clubs have made between themselves, as well as the image-rights companies players have set up to protect their profiles, the Financial Times reports.
Some of these deals, according to the tax authority, may be designed to attract foreign-based players wanting to avoid British taxation, as these image-rights companies are usually based offshore.
"We are in discussions with HMRC," the Premier League told the paper.
"All players have some degree of image rights attached to them. It is legitimate to have some element of image rights, but HMRC would query the level that some have attached to them."
It follows news that Portsmouth FC is facing administration over an outstanding £7.5 million tax debt.
Posted by Jon Cummins.
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