HMRC to Start Charging National Insurance to Players
In the News
Wealthy football clubs will have to pay tax on money raised from player testimonials following changes by HM Revenue & Customs.
HMRC confirmed on Wednesday that bodies organising testimonials for retired sportsmen and women will have to pay National Insurance on any money raised above the sum of £100,000 from April. Income tax has applied to testimonials since 2017, further eating into the proceeds.
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