----- Original Message ----- >Even at the last firm I worked at, the bosses paid themselves to just under the highest tax bracket, then manage to run up at least 2K expenses a month. 5 of them at it, 10k a month works out a fair bit that doesn't get taxed.
Totally different situation with football clubs which is why HMRC are trying to put a stop to it. Football clubs are collecting VAT from the public (on sales) on behalf of HMRC and then not paying it over to HMRC. It is not their own tax that they are failing to pay - though of course they won't be paying that either. Also the club is deducting Income tax and National Insurance from its employees i.e collecting it from the employees on behalf of HMRC, and not paying that over either. The big issue is that football clubs are using tax paid by OTHER PEOPLE as working cashflow instead of handing it over to HMRC. Any tax due on the operations of the club itself is an entirely different matter. _______________________________________________ the Leeds List is an unmoderated mailing list and the list administrators accept no liability for the personal views and opinions of contributors. Leedslist mailing list [email protected] http://list.zetnet.co.uk/mailman/listinfo/leedslist www.leedslist.net
