New report in The Times: football clubs have been claiming £millions of tax back using a tax relief intended to boost science and technology
It's a relief that has been widely abused - wrong and fraudulent claims probably cost us all £10bn in lost tax. Were the football clubs really entitled to it?
It's a relief that has been widely abused - wrong and fraudulent claims probably cost us all £10bn in lost tax. Were the football clubs really entitled to it?
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If they are doing it, and whether it legitimately costs the amount claimed are certainly questions that deserve to be answered.
HMRC knew of tax fraud risk but failed to act for at least five years
https://www.thetimes.com/article/482a1550-65ee-44bc-9e2a-b69ef5e30550?shareToken=93de7dae39eb1c3e064d398d50b39e7f
That would mean Chelsea spent about £15m on R&D that really advanced science and technology. Did they? I'm sceptical - and Chelsea refused to comment.
Let's hope HMRC are investigating.
“Strong against the Weak; Weak against the Strong”
Should be binned or reduced in scope to companies actually performing valid R&D.