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MP’s on Tax – “Go after Footballers and Super Rich”

It seems that Premiership footballers and the super rich are really having a good time recently, whether it be big money moves or chilling on a super yacht.

Well, the party could soon be over, because a committee of MP’s have been locked away in secret meetings over the last week or two, and now they have emerged with a clear message…”go after footballers and the super rich.”

What they are basically saying is that they want HMRC to look more closely at exactly what is going on with these millionaires and billionaires.

Particular concerns are footballers who set-up offshore companies to funnel money out of the country and business people who live most of their time and do business in the UK, but “technically” live in places like Monaco or Switzerland, in order to pay less tax.

Firstly, let me just say that I am not accusing anyone of anything here, and these kind of stories are simply what you hear about now and again. Now if MP’s are wanting to do something then there might very well be something to it all, but at the end of the day the only people who have the power to prove guilt or innocence is HMRC.

However, they do make good news stories at times, and at the end of the day, if there are Premiership stars and the super rich getting away with not paying tax in the UK, then I am sure many people will want to see justice handed out.

I seem to remember that Jose Mourinho, the Manchester United manager, had some kind of allegations made against him regarding offshore businesses, but in the end I don’t think anything came of it.

MP’s are saying that Premiership Clubs are not doing enough to co-operate with HMRC though, in a time when many see communication as a priority.

Right now there are 43 Premiership players that HMRC are making inquiries about, as well as 8 agents and 12 clubs.

Let’s wait to see what happens with this one, it could all come to nothing of course, especially if some of those players end up getting a big money move to China.

As many of you are no doubt aware, it was Diego Costa who was recently offered £30 million a year after tax by a Chinese club. Not bad money if you can get it, although he appears to be staying for now.

For all the contractors out there, £30 million a year might sound a bit far fetched, but whatever your income it’s always a good idea to get a qualified accountant to handle everything for you.

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