- HMRC has published new guidance on football agents’ fees and dual representation contracts
- The guidelines aim to reduce errors and penalties for football agents and clubs
- They focus on agents’ fees for player transfers and contract negotiations, as well as employer taxes and VAT
- Dual representation, where agents act for both player and club, can impact VAT liability and tax obligations
- HMRC emphasizes the importance of accurately allocating fees between player and club services based on commercial reality
- Specific documentation and record-keeping are required to support the allocation of fees for tax purposes
- The guidelines should be read alongside HMRC’s other guidance on the matter.
Source: taxscape.deloitte.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
