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Thread: Saracens breaching salary cap, yet again.

      
  1. #31

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    Default Re: Saracens breaching salary cap, yet again.

    Quote Originally Posted by crossref View Post
    Itoje, or his comoany, presumably declared it as income and paid tax on it.
    The HMRC definition of what is income is not the same as what counts towards the salary cap ..
    Hope rather than presume as it appears HMRC will be investigating all 12 Premiership clubs wrt tax and image rights payments, before progressing onto football.

    This is a sad, sorry tale. I always felt we (rugby) held the higher ground but it appears the sport is as corrupted as all else.

  2. #32

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    Arrow Re: Saracens breaching salary cap, yet again.

    Perhaps crossref is right. Once investigated IR find everyone paid their taxes.

    However the Guardian article in my #23 suggests that what's worrying the Revenue people is all those missed employer’s contributions, on the potentially higher salary, if image rights had been given as part of the salary package. You are correct in saying the salary cap definition doesn’t come into it; it is the law of the land which must be respected first and foremost. The Premiership’s own internal investigation must have stumbled across this, surely? If they were aware of Saracens modus operandi, then the pattern is easy enough to spot in other club’s finances. I suspect Rugby’s failing, is that our attempts to exploit a tax loophole were amateur. Football on the other hand, have been professional about it, by paying millions to accountants and laywers to come up with a watertight solution. The notion that “Sure, everybody’s at it, your Honour.” is no defense in court.

    Another Guardian article taking a swipe at Union.
    This is hardly the new face of the game. Rugby has always had its slush funds. It was slush money that was the very definition of shamateurism in the old days. It's just moved from the odd 80 quid [‘80s] to 816 grand [2000]. Inflation.
    Inflation it is; I suspect we are talking about millions now twenty years down the road.
    Last edited by L'irlandais; 3 Weeks Ago at 09:01.
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  3. #33
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    Default Re: Saracens breaching salary cap, yet again.

    Quote Originally Posted by L'irlandais

    So all 12 clubs have been doing it (to some extent) and for a lot longer than just since 2016.
    Quote Originally Posted by Skids View Post
    Reference please (my highlight)?
    Quote Originally Posted by L'irlandais
    HM REVENUE & CUSTOMS,... investigating all 12 Guinness Premiership clubs.
    So you have decided the outcome of the investigation before it is completed. So much for due process. The word INVESTIGATING is important here.

  4. #34

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    Default Re: Saracens breaching salary cap, yet again.

    At the end of the day tax and salary cap are different issues
    You could easily be within the rules of one of those, and outside the rules of the other

    But, yes, if you are cheating on one, suspicion that you might cheat the other

  5. #35

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    Default Re: Saracens breaching salary cap, yet again.

    From the first linked article in my #32
    The biggest revelation in the report is that the Premiership’s salary cap manager, Andrew Rogers, submitted evidence that Wray and two Saracens directors had paid Itoje £1.6m for a 30% share of his image rights. However a separate valuation undertaken for Premier Rugby Limited said Saracens had overpaid by £800,000, an amount that was therefore considered to be salary.
    Irrespective of whether Itoje paid taxes, the Club avoided paying employer’s contributions on that sum.

    As pointed out in #32, this is hardly the new face of the game, it has always been the case, if we ever cared to look behind the mask of respectability.
    Quote Originally Posted by The year 2002
    Eight-hundred-and-sixteen grand (£68,000 each from the top 12 English clubs) allegedly set aside to protect the cartel: to keep Rotherham out and to shelter the altogether larger investment of the Premiership club owners.
    allegedly
    Who believes this loose affiliation of sugar daddies don’t ever talk to one another about the latest wheeze.
    They have ample opportunity to have lunch/dinner together, or just a quiet drink at the bar, when teams play each other every weekend.
    Quote Originally Posted by The year 2009
    I think there are instances where a player does not have any value to his image rights but still receives a payment," said Chris Caisley, a partner of the law firm Walker Morris and a former chairman of Bradford Bulls. "There are other examples where the image rights of a player are worth more to a club than his contribution on the field. I'd expect the Revenue to target those players whose image rights are not worth anything."

    "What we need in this is clarification," said the Premier Rugby chief executive, Mark McCafferty. "It is about establishing ground rules, such the percentage of salary that can be paid into an image rights company."

    The Professional Rugby Players' Association are not perturbed by the investigation. "The only issue we would have is if we felt unfair penalties were being imposed," said the chief executive, Damian Hopley. "Rugby union is enjoying a high profile and young players emerging are finding themselves fêted in a way their predecessors were not. All we want from HMRC is clarity."
    So it would seem it is standard practice to player image rights, even to players who don’t have the limelight like Itoje. Seems dodgy to me.
    Last edited by L'irlandais; 3 Weeks Ago at 10:01.
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  6. #36

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    Default Re: Saracens breaching salary cap, yet again.

    Oh, to add insult to injury.
    DISCIPLINE, HONESTY. WORK RATE. HUMILITY.
    Four core values that have built the incredibly successful Saracens team we see today.
    Saracens’ core values inclue Honesty. WTF? Please stop insulting the intelligence of rugby supporters, the word honesty and the Saracens club have nothing in common. Be honest with yourselves, first and foremost.

    Sarries paid over £3million in legal fees ensuring that their payments were abiding by the law. They seriously should ask for their money back. According to Brendan Ventner Saracens have been spending like that not just for the six years (during which they broke the salary cap) but for the past 15 years. If not right back to the beginning of Nigel Wray’s involvement 30 years ago. Slush funds a-go-go, where’s the honesty in that?
    Last edited by L'irlandais; 3 Weeks Ago at 14:01.
    "We demand strict proof for opinions we dislike, but are satisfied with mere hints for what we’re inclined to accept."
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