Newcastle United investigated over ‘systemic abuse of tax system’

  • Court papers show extent of allegations against Premier League club
  • HMRC alleges Newcastle used ‘sham’ contracts when signing players

Newcastle United are under investigation over alleged “extensive” tax evasion on player transfers, court papers have shown.

Details of the allegations have emerged as the club failed in a legal challenge against search warrants issued to HM Revenue and Customs during Operation Loom, which saw dawn raids by HMRC on premises including St James’ Park as part of a £5m tax investigation involving Premier League and French clubs. The papers show HMRC investigators suspect Newcastle, owned by the billionaire Sports Direct tycoon Mike Ashley, of involvement in an elaborate scheme to evade income tax, VAT and national insurance.

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Court papers show extent of allegations against Premier League clubHMRC alleges Newcastle used ‘sham’ contracts when signing playersNewcastle United are under investigation over alleged “extensive” tax evasion on player transfers, court papers have shown.Details of the allegations have emerged as the club failed in a legal challenge against search warrants issued to HM Revenue and Customs during Operation Loom, which saw dawn raids by HMRC on premises including St James’ Park as part of a £5m tax investigation involving Premier League and French clubs. The papers show HMRC investigators suspect Newcastle, owned by the billionaire Sports Direct tycoon Mike Ashley, of involvement in an elaborate scheme to evade income tax, VAT and national insurance. Continue reading…

https://www.theguardian.com/football/2017/oct/05/newcastle-united-investigated-abuse-tax-system

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