14 out of 20 Premier League cubs paid no corporation tax according to their latest accounts although half of them were profitable. This is largely because historic losses can be set against future profits to wipe out tax bills.
Tottenham Hotspur reported profits of £83.3m in its last set of accounts, but only paid £518,000 in corporation tax. Manchester City made profits of £15.3m and received a tax credit of £380,000.
14 out of 20 Premier League cubs paid no corporation tax according to their latest accounts although half of them were profitable. This is largely because historic losses can be set against future profits to wipe out tax bills.
Tottenham Hotspur reported profits of £83.3m in its last set of accounts, but only paid £518,000 in corporation tax. Manchester City made profits of £15.3m and received a tax credit of £380,000.
However, Manchester United incurred a corporation tax rate of 28 per cent on its profits. For Crystal Palace the figure was 23 per cent and for Arsenal 10 per cent.
Clubs do pay substantial amounts of tax in terms of income tax, national insurance and value added tax.