As Euro 2024 kicks off, tax spotlight takes a Football focus
Newsletter issue – July 2024
Whilst many of you will have been tuned in to watch Europe’s top footballing nations battle it out in Euro 2024 in Germany, back in the UK there has been some attention on a rarely discussed aspect of the beautiful game – tax.
One strand of the conversation has been a debate around the possible introduction of a new 10% tax on Premier League transfers – a subject that has arisen during the election campaign.
The other thread of the discussion has been to do with suggestions that HMRC has missed out on millions of pounds in tax from player deals.
The first point was sparked after comments from the Shadow Culture and Sport Secretary, Thangam Debbonaire, who commented on the recent fan-led review of football governance, which proposed a 10% levy.
However, asked during a round of media interviews later, the Labour Leader Sir Keir Starmer then dashed the idea, saying it was not “part of our plans”.
The proposal from the review chaired by former Conservative MP Dame Tracey Crouch in 2021 would have meant a tax on transfers between Premier League clubs and also sales involving Premier League and overseas teams. It estimated it would raise £160m per year.