Players face big tax demands

More than 100 football players are facing big tax demands from HM Revenue and Customs to pay back tax reliefs which the tax authorities claim constituted a form of tax avoidance.   Not all the players were big earners and some face bankruptcy or losing their homes.

More than 100 football players are facing big tax demands from HM Revenue and Customs to pay back tax reliefs which the tax authorities claim constituted a form of tax avoidance.   Not all the players were big earners and some face bankruptcy or losing their homes.

Players were tempted to take part in various investment schemes by financial advisers.   With most of them knowing relatively little about financial matters, they saw other players taking part and decided to join the party.   Unfortunately, they now face a big hangover as the Revenue cracks down.