TaxPersonal TaxTax swoop will hit Wembley Champions League finalists

Tax swoop will hit Wembley Champions League finalists

Plans to host club football showpiece at Wembley could be derailed by UK tax

The plans to host the Champions League final at Wembley in 2010 or 2011 could
be derailed as the two finalists would be subject to tax.

According to the Daily Mail the government is insisting that the
Foreign Entertainment Unit clause in HM Revenue & Customs’ Foreign
Entertainment Unit regulations.

The clause means that visiting players will have to pay UK tax on earnings
and bonuses for the match.

The Treasury and Department of Culture, Media and Sport are in discussions
about the issue.

A spokesman for the DCMS said:’ ‘We are aware of the issue regarding taxation
and the FA’s bid for the Champions League Final to be held at Wembley and are
looking at what assurances can be offered to UEFA.’

Further reading:

FA mulls firms for transfer audit

FA spurns chance to set up transfer audit
unit

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