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Tax Essentials for Sports Professionals: Bloomsbury Professional Tax Insights

Autor Sofia Thomas
en Limba Engleză Paperback – 10 apr 2024
The way that personal tax applies to professional sports people is incredibly nuanced and there is currently no book that brings together all of the idiosyncrasies that apply specifically to sports people. Agents, sports lawyers and sports professionals themselves are acutely aware of the implications of entering into improper tax schemes or even just failing to be compliant. There is a tangible shift in how professionals who support athletes approach their taxes. The industry is more alive now to improper tax investments and the devastating impact that this can and does have on their clients. With this book, professionals will be able to dip into the sections they require and use the content to support their work and ensure they are providing holistic advice to their clients. The book will include real life overviews, case studies and flow charts and tables to make the information as digestible as possible. It is broken down into sections, focusing on all major sports.
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Specificații

ISBN-13: 9781526525598
ISBN-10: 1526525593
Pagini: 200
Dimensiuni: 210 x 297 mm
Greutate: 0.45 kg
Editura: Bloomsbury Publishing
Colecția Bloomsbury Professional
Seria Bloomsbury Professional Tax Insights

Locul publicării:London, United Kingdom

Caracteristici

Agents, sports lawyers and sports professionals themselves are becoming acutely aware of the implications of entering into improper tax schemes or even just failing to be compliant. The industry is more alive now to improper tax investments and the devastating impact that this can and does have on their clients.

Notă biografică

Sofia Thomas is a Chartered Tax Advisor (Fellow) and CEO of Juno Sports Tax. She is an award-winning tax expert and a lecturer in tax. Sofia is regularly instructed as an expert for contentious tax disputes and has extensive experience in the sports industry, her clients include premier league footballers, title winning boxers and Olympians. Sofia is regular lecturer in tax for the CIOT, MBL and STEP.Nick De Marco KC of Blackstone Chambers is ranked as one of the leading sports law barristers and the foremost practitioner in football disputes. As well as acting for international and national federations, premier league and international football clubs, players, athletes and their unions, Nick sits as an arbitrator across a number of sports: he is a member of the IAAF Disciplinary Commission, Sports Resolutions' independent Panel of Arbitrators and Mediators and the specialist sports list of arbitrators at the Asian International Arbitration Centre. Legal 500 (2022) said Nick: "has the best working knowledge of the football regulatory landscape of the barristers at the Bar". Nick is a member of the Editorial Board of Law In Sport and of 'Football Legal' and he writes and lectures on sports law issues. He is co-author of 'Challenging Sports Governing Bodies' (Bloomsbury, 2016) the author and General Editor of the first edition of 'Football and the Law' (Bloomsbury, 2018) and he hosts 'The Sports Law Podcast' (in association with Blackstone Chambers). He is a director of the British Association for Sport and the Law (BASL).

Cuprins

1. General Principals in Personal Tax 1.1 The importance of getting this right1.2 Common Tax Traps1.3 Jurisdictions of UK tax 1.4 Residence and non residence1.5 HMRC powers 1.6 Treatment of non residents in the UK 1.7 General tax exemptions for athletes2 Football & Rugby 2.1 Pre Professional 2.1.2 Qualifying expenditure2.1.3 Scholars & the salary jump2.1.4 First £100k 2.2 Professional 2.2.1 International loansDutch & Belgian Football Loan Case2.2.2 Domestic loans2.2.3 Pensions cap2.2.4 Agents' fees 2.2.5 Image rights companies Hull City AFC (Tigers) Ltd v Revenue and Customs Commissioners [2019] UKFTT 227 (TC))Sports Club plc v Inspector of Taxes [2000] STC (SCD) 4432.11 Tax efficient investments (EIS, SEIS)3 Golf & Tennis & Boxing 3.1 Pre professional 3.1.1 Setting up a trade3.1.2 When to notify HMRC3.2 Professional 3.2.1 Tax on tournament winnings3.2.2 Qualifying expenditure3.2.3 When/If to set up a company3.2.4 Image rights companies 3.2.5 Tournaments overseas (for UK residents)3.2.6 Tournaments in the UK (for non UK residents)4 E-sports 4.1 Pre professional 4.1.1 Setting up a trade4.1.2. Under 16 earnings 4.2 Professional 4.2.1 Twitch, Patreon and Paypal donations 4.2.2 Tournament winnings 4.2.3 Qualifying expenditure 5 Athletes 5.1 Pre professional5.1.1 Athletes Performance Award5.1.2 Setting up a trade5.2 Professional5.2.1 Citizenship & residency5.2.2 Major events (Commonwealth Games, Olympics) 6 Post pro career6.1 Closing down or continuing IRCs 6.2 Second career 7 Pundits 7.1 General Principals 7.2 Tax position7.3 HMRC enquiries 7.4 CasesBasic Broadcasting Ltd v HMRC [2022] UKFTT 48 (TC) McCann Media Ltd v HMRC [2022] ULFTT 104 (TC)8 Supporting Materials 8.1 Residency & Domicile - flowchart8.3 First year over £100k - Checklist8.4 First Commercial deal - Checklist 8.5 Image Rights Company - Flow chart 8.6 Image Rights Company - Checklist8.7 Responding to HMRC enquiry - Sample Letter