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Key points
- The Football Agent Regulations entered into force on 1 January 2024.
- If fully implemented the new regulations could have significant tax consequences.
- In a dual representation situation the element of the fee due to the agent for services provided to the player is typically paid by the engaging club and treated as a benefit in kind on the player.
- In future the payment will be subject to income tax employer NICs and employee NICs payable through payroll.
- Clubs must maintain accurate records of agreements between the parties on how costs will be apportioned.
Football clubs players and agents can continue to expect scrutiny of their UK tax affairs by HMRC following the entry into force of new regulations from the Football Association of England (FA).
The Football Agent Regulations (FAR) (tinyurl.com/FAagentregs) entered into force on 1 January 2024 delayed from the original implementation...
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