Finance guru: New probe is a ‘real problem’ as £5m Newcastle United HMRC issue analysed
Newcastle United are part of a Premier League-wide problem with regards to alleged tax breaches.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the top-flight’s suspected issues with HMRC.
Per The Sun last Saturday (9 July), 329 unnamed Premier League players are currently under investigation for alleged tax avoidance.
It is also claimed that an unspecified number of clubs are also being probed for similar breaches.
Meanwhile, as reported by the same outlet last month (11 June), Newcastle have commissioned lawyers to fight off a £5million bill for tax evasion relating to three transfers that took place between 2011 and 2013.
Plumley was quick to point out that the “real problem” lies with individual clubs and players rather than the Premier League itself.
“We have got to be careful in terms of branding the whole Premier League,” the Sheffield Hallam University expert told Football Insider’s Adam Williams.
“If you look at economic impact reports the Premier League puts out and how much they contribute overall, the league itself pays a considerable amount. There is a lot of value added to the economy that way.
“So we have to look at individual clubs and players. That’s where the real problem is. That’s tough for the Premier League to get a handle on.”
The Sun’s report also claims that one Premier League club is suspected to have used offshore loopholes to pay agents.
HMRC is said to have appointed a number of fraud experts to liaise with the FA over the matter.
In other news, Sheffield United agree to sign Newcastle United star Ciaran Clark.