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Watch out Premier League footballers

With a Tory government in office, one might be forgiven for thinking that the rich would have carte-Blanche to pay as little tax as they wanted, running around with their wallets out and screaming LOADS OF MONEY in the process. However, it might not be like that, especially for our richest sportsmen, who are going to have their affairs picked through by Her Majesty's Revenue & Customs (HMRC). Premier League stars had better watch out.

The agency is putting together a 100-member strong 'affluence team' to check over the tax affairs of the 350,000 people whose wealth exceeds £2.5million, of which a good number will be Premier League footballers. The key thing they will be checking is if players are exploiting a loophole during transfers by getting their agents' fees paid for by the club, or another third party, which saves them a load of money.

'HMRC are aware of a potential tax issue concerning the payment of agent fees and are taking steps to ensure the tax rules are respected,' the tax authority said in a statement. 'When a third party pays a fee to an agent acting on behalf of an employee, the fee may count as part of the employee's taxable earnings and so be liable to tax.

'The government has made £917m available to HMRC to ensure that tax rules are adhered to across the board.'

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