Bill Gates !

slimsim said:I'm surprised if that is a bona fide footballers wage slip, as I certainly wouldn't expect a footballer to be "working" on a PAYE basis. However, if it is genuine it seems that footballers are employed in the least tax-efficient method possible.

Cuddles said:Football salaries are insane.

But all of the instruments described above to avoid paying as much tax are available to anyone. Setting up holding and ltd companies is not the preserve of the rich, it's the preserve of those that are bothered enough to do some research (the rich just pay someone to do the research for them).

BenMac said:
It was John-Arne Riise's payslip from Liverpool, a workie took a picture of it whilst he was building him an extention.
Kinkladze's is knocking about the internet too - shows him on PAYE too
[IMG]http://i68.photobucket.com/albums/i9/benmac_2006/payslip.jpg[/...

I bet he was happy about it being put on the net!

Still surprises me though. You'd have though that these guys would have access to top accountants/tax advisers and the whole rest of it, so I would've thought they be all over the tax issues with a comb looking to mitigate as much as poss.

I don't care how much you earn, it must still be absolutely heartbreaking to see 1/2 of it disappear to the chancellors coffers.....the poor bas***ds!

slimsim said:
I bet he was happy about it being put on the net!
Still surprises me though. You'd have though that these guys would have access to top accountants/tax advisers and the whole rest of it, so I would've thought they be all over the tax issues with a comb looking to mitigate as much as poss.
I don't care how much you earn, it must still be absolutely heartbreaking to see 1/2 of it disappear to the chancellors coffers.....the poor bas***ds!

drew said:Student loan??

Are there any prof footballers who have a degree?

Joni said:
well known fact that richer you get, less % you pay, via all kinds of loopholes and access to methods to avoid paying taxes.

Steve said:
Whilst setting up a Ltd company is very easy it then involves a large amount of extra work - preparing company accounts, corp tax return's, annual returns, payroll (to take money out of the business).
Whilst in theory anybody can do it, it generally isn't worth it for many self employed people and it certainly wouldn't be even be an option for the majority of people in normal employment.

Cuddles said:
I'll tell all my friends that are set up as LTD companies then. I guess they shoudnt bother

Thing said:
if i remeber correctly Bobo Balde who played for Celtic has a LAW degree and is a qualified Lawyer i think i could be wrong

Steve said:
If you are employed you have to pay tax on your wages through paye (at 50% for high earners) - there's actually very little an accountant can do to reduce the amount of tax you pay on your salary.

aaron_lohan said:
Graeme Le Saux i think

slimsim said:
Yeah, I know, that's why I'm surprised they all work on an employed basis rather than being self employed contractors. At least that way they could claim back various expenses such as petrol costs, which I'd imagine for someone driving a masserati/ferrari/porsche...continue to insert supercar of choice....are pretty high!!

Steve said:
The revenue wouldn't accept they were self employed when clearly they aren't. You can't simply pick and choose.

slimsim said:
Would it not be the same as an IT contractor who might work on a quasi permanent contract for say 3+years? I used to gym a corporate gym and loads of the guys who worked for O2 were contractors earning much higher rates than the PAYE guys but were there for the full duration of my 2.5years. I've only been self employed for 3 years but I thought these types of things were fairly standard.
PS. Did you know there's a life insurance plan which company directors can take out on themselves without incurring a P11D liability AND it can be classed as a deductible expense? WARNING WARNING: SALES PITCH SALES PITCH

Steve said:
It depends on whether a person is obliged to provide the service to keep their contract as set out in James v Redcats (Brands) Ltd. The fact that it is a fixed contract doesn't matter.
Clearly a footballer does not have the option to play or not depending on whether they wish to or to substitute somebody elses services to get the job done.