PwC scores for Sunderland's Quinn
PricewaterhouseCoopers this week scored against the Inland Revenue for Sunderland's Niall Quinn to the sum of £400,000.
Funds raised by Quinn’s charity benefit match will be tax-free thanks to PwC’s round-the-clock efforts to convince the Revenue that proceeds from the benefit match should not be subject to income tax.
Quinn is aiming to raise £1m to benefit children at Sunderland’s Royal Hospital and Our Lady’s Hospital for Sick Children, Crumlin.
The Republic of Ireland football star said: ‘If we reach our target, they [PwC] will have saved us £400,000, all of which will now benefit the children of Sunderland and Crumlin.’
David Elliott of PwC, said: ‘If Niall had been the beneficiary of the game, 40% tax would have been paid on the total amount raised. It was quite a complex tax matter because it is the first time a footballer has agreed to give the proceeds to charity.