Just been catching up on the Man City shenanigans. If found to be true it is a fairy hefty list of lies and damned lies.
Paying managers but through a different company so it doesn't show on the books
Artificially inflating the income by showing money as coming from sponsors when it was from owners
Not paying their face painters*
Sounds familiar
The list of possible sanctions are interesting as a fine is absolutely meaningless, a transfer ban could be appropriate as it could hinder them for a couple of years but then they'd just find another loophole like Chlesea have and spend billions at the end of it. Points deduction, again possiby meaningless as they are 8 points behind already and the CL money is pennies to them.
*not actually stated just an assumption of mine. Opinion not related or shared by JA606 Ltd or it's benefactors.
Man City and the Dodgy Accountants
posted on 8/2/23
Thank you Ginger.
posted on 8/2/23
Welcome
posted on 8/2/23
Simple things like a change in company car or benefits like health care etc often don’t get picked up for months.
Then the employees gets a sizeable tax demand that somehow they seem shocked by. Any changes to “reward”, call the tax office and ask for a new code to be sent to your employer.
posted on 8/2/23
Many years ago, when working for a Hong Kong (British) company, my wages were paid into an Isle of Man bank account from which I could then transfer funds to my standard UK bank account. This was perfectly legal tax liability avoidance, not tax-dodging, according to our company accountants. Both accounts were with the same major bank so no transfer charges etc. It was belt-and-braces stuff really because I wasn't spending more than 3 months a year in the UK anyway so I was "resident but not normally resident" for tax purposes.
posted on 8/2/23
It should also be noted that Mancini has an agent who would have agreed the salary structure at City, same as any player or manager employed by a professional club.
posted on 8/2/23
comment by Boris 'Inky’ Gibson (U5901)
posted 14 minutes ago
It should also be noted that Mancini has an agent who would have agreed the salary structure at City, same as any player or manager employed by a professional club.
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Not an excuse I'm afraid!
posted on 8/2/23
comment by Silver (U6112)
posted 2 minutes ago
comment by Boris 'Inky’ Gibson (U5901)
posted 14 minutes ago
It should also be noted that Mancini has an agent who would have agreed the salary structure at City, same as any player or manager employed by a professional club.
----------------------------------------------------------------------
Not an excuse I'm afraid!
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In any case, 'structures' intended wholly to reward work done in this country but paid under another jurisdiction and / or misrepresented as to what it is for is considered taxable income.
And what sort of character would advocate UK tax evasion by the rich?
posted on 8/2/23
Interested to see the outcome of this but think the punishment in the end will be relatively tame - points deduction and fine.
The EPL brand is too strong for them to risk anything that could damage the product. Lots of people talking about relegation but would be commercially damaging for that to happen and would inevitably see a raft of stars leave the club and league. Also then sets a precedent when others inevitably are under the microscope for the same. Can't see that scale of punishment.
posted on 8/2/23
Lots of people talking about relegation but would be commercially damaging for that to happen and would inevitably see a raft of stars leave the club and league.
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would be funny but
posted on 8/2/23
comment by Silver (U6112)
posted 31 minutes ago
comment by Silver (U6112)
posted 2 minutes ago
comment by Boris 'Inky’ Gibson (U5901)
posted 14 minutes ago
It should also be noted that Mancini has an agent who would have agreed the salary structure at City, same as any player or manager employed by a professional club.
----------------------------------------------------------------------
Not an excuse I'm afraid!
----------------------------------------------------------------------
In any case, 'structures' intended wholly to reward work done in this country but paid under another jurisdiction and / or misrepresented as to what it is for is considered taxable income.
And what sort of character would advocate UK tax evasion by the rich?
----------------------------------------------------------------------
An Italian with an Italian agent may be tempted, certainly not anyone who's a UK citizen.