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Re: Knock on effect

By Minazayedblue27/3 04:41Fri Mar 27 04:41:37 2020In response to Re: Knock on effect

Views: 609

With the proviso I'm in no way personally impacted, as I understand: If the player is engaged on PAYE terms - unlikely - NBFC (the holding company) has to claim from the Government to maintain 80% of his salary pro-rata to a maximum of £2500 per month.

Alternatively, if the player is engaged on 'self employed' terms - more likely - then, if football is his primary income, the player can claim 80% of payments received from NBFC, together with other clubs he may have played for in the past 3 years, as declared on his tax return; the payment is taxable, which takes into account the player's payments from alternative employment on, presumably, PAYE terms.

However, the flaws are fairly obvious.

Firstly, NBFC, in common with many other employers - Wetherspoons come to mind - will simply judge this all-too-difficult and liquidate the holding company / terminate contracts of those 'employed' for less than two years.

Secondly. It would take too long. Suffice: Brown envelopes have been de rigeur for as long as I've followed NBFC's fortunes, which is getting on for 60 years. Nothing unique to the Boro, of course.

Incidentally, the Chancellor made clear the days of football clubs et al engaging staff on self-employed contracts to avoid payment of NI - BBC!! - are at an end. Assuming he follows through with the policy, this could have far wider consequences for football, at all levels, than the current crisis.

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Next article in this thread: Re: Knock on effect by VS Town27/3 08:29Fri Mar 27 08:29:24 2020

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