The Champions League final this weekend will be a contest involving some of the world’s most high profile footballers. As such these players will have income from sources other than their clubs.
The Rugby Players playing in this weekend’s Rugby Union European Cup Final in Cardiff will be glad to know they won’t suffer any UK tax burden, unlike individual sport stars competing in the UK.
It is likely that most players playing in the FA Cup final this weekend will have clauses in their contracts which provide for a bonus should they win. These bonuses could be substantial amounts.
The 1st April is a date synonymous with pranksters and practical jokers. It is too, but not necessarily linked to, the introduction of a number of tax and financial changes previously announced in a Budget or Autumn Statement. Along with this date, on the 6th April, the start of the tax year, we can expect to see the introduction of a number of other changes to taxation affecting individuals and businesses in the financial year ahead.
The deadline is fast approaching to submit a disclosure of income or capital gains under the Property Sales Campaign which is the latest of HMRC’s campaigns designed to encourage voluntary disclosure of previously undisclosed income and capital gains.