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Tax snags facing football clubs
Jan 30 2008 by Tony McDonough, Liverpool Daily Post
ENGLISH football clubs are at a financial disadvantage when it comes to attracting new players to their clubs, a leading Liverpool accountant says.
With the football transfer window closing at midnight tomorrow, Martin Dawson, a tax partner at Grant Thornton, in Liverpool, said British clubs need “championship-winning” tax planning if they are compete with clubs in Spain, Italy and elsewhere.
He added UK clubs start at a disadvantage because UK levels of income tax are much higher than those on the Continent.Š
“If a Liverpool player demands take-home pay of £50,000 a week,” he said, “the club has to fork out around £110,000.
“Spanish income tax, for instance, is much lower, so a team like Real Madrid would pay just £65,000 to achieve the same take-home wage.”
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