HMRC have published updated guidance on their view on dual representation, and the approaches to take to lower the risk of tax non-compliance. These will help football agents avoid penalties!
These Guidelines for Compliance (GfC) are for football agents and football clubs.
They focus on:
- HMRC’s view on dual representation contracts
- Employer Duty and VAT compliance risks for football agents’ fees and dual representation
These guidelines do not change HMRCs view of compliance risks in other taxes.
They should read alongside HMRC’s published guidance. They are not designed to be used in isolation and you should apply these guidelines to help make informed decisions, based on individual circumstances.
Following these guidelines will help to reduce your risk of making errors, therefore reducing the risk of penalty charges.
Within professional football it’s common for football players to use the services of an agent. The services provided by the agent typically include the negotiation of an employment contract with a new football club or renegotiation of an employment contract with an existing club. This means football clubs are usually required to engage with agents if they wish to sign a particular player or renegotiate a contract with an existing player.
PAYadvice.UK 13/5/2024