Profesional footballer

My nephew is a 18 year old professional and on PAYE..

As you would imagine his salary, sponsorship makes my hair stand up but all on PAYE so he gets battered by tax.

I wonder if can I help him pay less tax but his dad is awkward to advise so I,m trying to bypass him. My boss is fca and cta and I have asked his dad to see him but as yet no show, so doing my own digging.

Cheers if any ideas.

Comments

  • burg
    burg Moderator, FMAAT, AAT Licensed Accountant Posts: 1,441
    Its a bit of a tricky area with football. I'm sure there is someone on Accounting web who has or does act for a few professional footballers so it may be worth asking on there.
    Regards,

    Burg
  • RAS
    RAS Registered Posts: 124 ? ? ?
    You would have thought his club would have their own tax advisers that would advise on any tax saving opportunities for players. Not sure realistically if there is any opportunity for you to help in this case.
  • Neillaw
    Neillaw MAAT, AAT Licensed Accountant Posts: 307 Dedicated contributor ? ? ?
    Is the sponsorship paid via the club or is this received from the company direct, I was under the impression that most footballers set up Ltd company's to deal with sponsorship monies.
  • villapb
    villapb Registered Posts: 357
    Yeah, the club does but and its a big but, some of the advisors advice some right dodgy stuff tbh ......he had payment in lump sums from nike etc direct reqular payments and a 1k card to buy nike stuff.
    Funny enough our company is sorting out bad advice giving too footballers regards payments in trust, the Rangers situation that hmrc is fighting.
    My main concern is that my nephew isn't stitched up and believe me the sharks circle daily.....
  • RAS
    RAS Registered Posts: 124 ? ? ?
    Probably one best left to the specialists.
  • villapb
    villapb Registered Posts: 357
    Ras I agree.............end thread
  • deanshepherd
    deanshepherd Registered Posts: 1,809
    Don't be shy.. who is it?

    Nathan Redmond?
  • villapb
    villapb Registered Posts: 357
    Jack Grealish
  • deanshepherd
    deanshepherd Registered Posts: 1,809
    I think you should advise him to head up the M6 to Molineux.

    We need all the help we can get!
  • villapb
    villapb Registered Posts: 357
    Lol nearly fell off my car.......players at wolves should be ashamed
  • villapb
    villapb Registered Posts: 357
    Chair not car....
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