Today's Daily Mail has an article about the latest tax schemes enjoyed by footballers: Top footballers like Wayne Rooney dodge millions in tax by cashing in on loophole | Mail Online
I know DM articles must be treated with a pinch of salt, but the following line caught my eye:
I assume they're talking about a director's loan, which I believe is limited to £5000 (i.e. hardly worth a footballer bothering with), but why should a BIK only be taxed at 2%? Has the DM made an error or is this really possible?
I know DM articles must be treated with a pinch of salt, but the following line caught my eye:
And players can take out loans from their companies where they only pay two per cent tax on the sum because it is regarded as a benefit in kind.
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