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JOHN LOEBL, MIKE HERDMAN and PAUL BROOKES explain how to avoid a tax own-goal for footballer clients
KEY POINTS
- The tax implications of agents’ fees.
- The tax advantages of exploiting image rights.
- Image rights and non-domiciled players.
- Ensuring the tax deductibility of image right payments.
- Tax liabilities on UK and non-UK duties.
- The importance of allowing time for tax planning.
The football industry is one that many people want to be associated with. Whether that is because of the perceived glamour the substantial amounts of money that attach to football and footballers or because we all ‘could have been Leo Messi if only that scout had any knowledge of the game’ who knows?
Unfortunately there are no special rules or exemptions from tax for professional footballers and so advising them generally requires the same skills and disciplines as for other high net worth clients;...
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