Our website uses cookies to store information on your computer. You may delete and block all cookies from this site, but parts of the site will not work as a result. Find out more about how we use cookies.
(Do not show this message again)
Shout99 - News matters for freelancers
Search Shout99 - News matters for freelancers
(Advanced Search)
   Join Shout99  About Shout99   Sitemap   Contact Shout99 20th Feb 2019
Forgot your password?
Shout99 - Freelancers, FO35, Section 660
New Users Click Here
Shout99 - Freelancers, FO35, Section 660
Shout99 - Freelancers, FO35, Section 660
Front Page
Freelancers' Shop...
Ask an Expert...
Direct Contracts
Press Links
Question Time
The Clubhouse
Conference Hall...
News from Partners


Business Links

Shout99 - Freelancers, FO35, Section 660

Freelancers' Shop

Personal Financial Services
from ContractorFinancials




Income protection

... and more special offers for Shout99 readers in the Freelancers' Shop

Shout99 - Freelancers, FO35, Section 660
Shout99 - Freelancers, FO35, Section 660

News for the
Construction Industry

Hardhatter.com - News for small businesses in the construction industry

Powered by
Powered by Novacaster
Shout99 Jobs

Arsenal FC and EBTs
by minn at 09:20 07/10/05 (Letters from Freelancers)
It was reported a while back that Arsenal FC was using offshore EBTs to pay players bonuses.
I've come across an article in the Daily Telegraph reporting that the club is having to set aside a serious sum of money in case the Revenue comes knocking at The Library (Highbury).
Arsenal have had to provide 11 million as possible future tax liability as a result of a recent House of Lords decision which affects how they pay some of their overseas players. Employee benefit trusts were set up and this trust paid some of the players' offshore, thus avoiding UK tax.

In 1979 Arsenal tried to pay David O'Leary through a Hambros Channel Island Trust Corporation on which O'Leary, an Irish citizen, claimed he did not have to pay tax. The courts ruled he had to and Hill Wood-said: "This is nothing like the arrangements we made with O'Leary. The payments to the players were made by the trust and it was perfectly legal. But this decision makes these schemes suspect."

(Contributor's emphasis)


View Comments (Threaded Mode) Printer Version

Mail this to a friend
Arsenal FC and EBTs minn - 09:20 07/10/05
Re: Arsenal FC and EBTs raymondo - 14:31 07/10/05
Original story minn - 14:35 07/10/05
Re: Arsenal FC and EBTs Gnashmills - 09:34 10/10/05

Copyright 1999-2018, Shout99.com | All Rights Reserved
Privacy Notice and Terms of Use