View Full Version : Unbelievable Premiership Footballer Fact.......

19th Apr 2005, 18:46
Hi all. Just been told by a reliable source that all foriegn premiership footballers get paid into 'offshore' accounts. Seems like they are shy of parting with the 60/70K they earn a week playing here :mad:

Onan the Clumsy
19th Apr 2005, 18:52
I thought you said "unbelievable"

19th Apr 2005, 18:53
Well yea, ok, but you know where I am coming from , I am shocked.......:ooh:

19th Apr 2005, 19:04
What's shocking about it?

Paulo Wanchope, who plays for Malaga these days, is South American by birth and plays for his native country.

However, as he lived and worked in Britain for more than 5 years previously, he has now qualified for a British passport and is no longer classified by EUFA as a non European player!

Work that one out!:confused:

19th Apr 2005, 19:06
...........and Rio Ferdinand has just been awarded 110,000 per week!


Send Clowns
19th Apr 2005, 19:58
Surely as long as they are habitually resident, and live here for 183 nights per year, then they have to pay tax wherever the income is earned. That was the UK tax position as I understood it when looking at working abroad but living here sometmes.

Curious Pax
19th Apr 2005, 22:45
I seem to recall that it isn't just foreign premiership players that do it, British ones do too (was in the papers 2-3 years back, I think in regard to Beckham when he was still at United). Not sure, but I think they set themselves up a company in Jersey, and the money is channelled through there - their club effectively pays their company for their services, much as IT contractors work (or at least used to).

Friend of mine was an IT contractor, and used to reminisce about being paid in just such a manner in the mid 80s, taking a flight to Jersey once a month and nipping off to the bank for a holdall of cash and getting back to the airport just in time to catch the same plane back to Manchester. His nerves only stood this for 6 months or so before setting up a UK company - the legality of the Jersey stunt was questionable at best I understand.

20th Apr 2005, 06:13
Wonder why Spanish clubs are suddenly so popular?

The Spanish government changed the tax law last year to help Real Madrid. Expat workers can elect to pay a flat 25% tax on their earnings in Spain and then pay 0% on their overseas earnings. They then get paid a pittance as a wage with the rest going to their tax haven companies for PR work etc.

With offsets I would be surprised if they actually pay a centavo in tax....

20th Apr 2005, 17:04
And all this on a day when Alan Ball is reported to be selling his 1966 World Cup Winner's Medal for 120,000......"to secure the future of my family". Fair gives yer the sick:(

20th Apr 2005, 18:28
Ooer I used to be paid offshore.:oh: Does that make me a footballer?:}

20th Apr 2005, 18:54
Oddly enough, I am an expat working in Spain..... :E

20th Apr 2005, 20:54
Curious Pax, I am an IT contractor and while I don't get paid offshore I know quite a few people who do. (plus all sorts of things the tax man doesn't like, like 'investing' all your income in the Cayman Islands and the 'borrowing' from the company you have invested in).

One thing is in recent years technology has made it much easier. You don't need to go over there with the suitcase any more, just pop down to the nearest money machine with your Jersey bank account plastic.

One I did know of was someone I worked with who wasn't VAT registered but charged it anyway - he used the VAT numbers from petrol receipts, on the theory that there were so many transactions no-one would notice his. He vanished suddenly one day amid rumours that HM Customs were anxious to make his aquaintance and introduce him to some (learned) friends of theirs.