Kieran Maguire issues Government reveal after Man City stars shell out ‘£160m’
Man City stars shelled out close to “£160million” to the taxman over the course of the 2020-21 campaign.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the findings of a recent report published by EY.
The financial services firm revealed on Tuesday (18 January) that the Premier League paid in around £7.6billion to the UK economy in 2019-20.
Of that figure, £1.4bn was made up of tax contributions from the top-flight’s 527 professional players.
City were the division’s biggest revenue generators in the last recorded financial year, 2020-21, turning over £569.8m in total.
Maguire estimates the huge sum the reigning Premier League champions shelled out in tax contributions over the course of the season.
“We can estimate how much tax they contribute pretty well,” he told Football Insider‘s Adam Williams.
“Their wage bill is £355m. Given that the vast majority of their players pay tax at a higher rate, you can probably say that 40 per cent is going to the taxman.
“It’s the players who pay most of this. The total staff at City probably pay somewhere around £140m per year in terms of PAYE, National Insurance.
“You’ve got the employer’s contribution there as well, so I would certainly calculate somewhere in the region of £140m to £150m.
“Every time you buy a ticket to watch a match, 20 per cent has been added in terms of VAT.
“In a normal season, you can add another £10m which goes to HMRC, so around £160m total.”
City are currently 11 points clear atop the Premier League table.
Their third league title in four years and run to the Champions League final were major drivers in their financial success last season.
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