Rugby Club Issue 52 | Page 21

Hotdoggers Surf Club BUSINESS STRATEGY | MANAGEMENT ACCOUNTS | PERSONAL & BUSINESS ACCOUNTS | TAX RETURNS PAYROLL | BOOKKEEPING | COMPANY FORMATIONS | HMRC ENQUIRIES & VOLUNTARY DISCLOSURE IMAGE IS EVERYTHING IN PROFESSIONAL SPORT As players become more successful, their image becomes more valuable. Clubs, countries and boards, advertisers and sponsors will all want to use it. When this happens, what players need most is good advice. Players are employees of their clubs, so have tax and National Insurance deducted from their salary, just like any other employee. But image rights are different. Players can negotiate a proportion of their income as payment for the use of their image, which is treated differently, so it’s not subject to Pay As You Earn. This sort of expertise, and these sort of negotiations, are where we can help. We work with players and their agents to ensure they get the best image rights deal possible, and that the legal and taxation advice is solid and agreed with HMRC. We also, of course, prepare accounts and tax returns, and offer high end tax planning and advice that is trusted by sports professionals who don’t want to be embarrassed by dodgy schemes and bad publicity. Our clients get good advice. So should you. www.totaltaxgroup.co.uk [email protected] 01425 656440 Offices: Dorset | Hampshire www.sportip.biz 21