Testimonial cash

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I learn in the papers that the cash a player makes in his testimonial is TAX FREE! An MP is currently trying to raise the issue.

Presumably, these rules were drawn up a long time ago, possibly even during the days of the maximum wage. When a player was finished circa 30 or 32, he would probably have faced an uncertain future with no trade and most of his working life still in front of him. The present testimonials to Giggs and Lee bear no relation to that scenario at all.

What would be the best way to change this? Presumably there are still players who deserve testimonials, for example if a player gives sterling service at a club like (say) Hartlepool, I guess few would begrudge him a payment. In the case of Premier players though, any hand out at all, never mind tax free, seems not to be right. Overall, I like the idea of a testimonial match where fans can turn up to pay tribute to a great player and his contemporaries. But if the player concerned is a millionaire it seems ridiculous to be handing out more wads of cash when there are much better causes.

My own view is that tax should be payable, whoever the player is, and perhaps the FA could step in to cream off in backhanders regulate what happens to the proceeds from these games.

-- Anonymous, August 02, 2001

Answers

I heard there's talk of making the first 50k non-taxable so that the poorer players who tend to get smaller testimonials wouldn't be affected....I could live with that idea...

-- Anonymous, August 02, 2001

Has it anything to do with the testimonial being a gift, rather than an earned amount?

It does seem a bit rich (pardon the pun) to get £100,000s in the days of multi-million pound deals. But then again, not given the ease with which to slide out of contracts and take the quick buck in a transfer, surely we should repay the loyalty of 10 years service?

It would be nice to see a percentage over a certain amount going towards injured ex-pros and their families, particularly lower leaguers. I imagine the PFA would want their cut too. Definitely don't want HM Treasury getting their mucky hands on it.

-- Anonymous, August 02, 2001


The tax free comes is an old anomaly. Because we don't pay the club any money to get into the testimonial game, we are each individually making a charitable donation to the player, and of course chjaritable donations are tax free.

The 50k limit would be spot on, lots of these worthy cause guys are lucky to get 5000 turn up for their testimonials anyway. After the 50k limit the tax threshold should rise to 110%, so that players who get huge crowds are effectively paying to thank the fans for their long support of them.

-- Anonymous, August 02, 2001


It would be a nice gesture if players who are already rich, such as Rob Lee, gave a good portion (if not all) of the money raised to charity. Or as has been suggested, to a fund for ex-players in need or whose careers are prematurely ended through injury. Perhaps money even going into local youth football clubs.

-- Anonymous, August 02, 2001

Definitely don't want HM Treasury getting their mucky hands on it.

Well exactly - they just waste it on things like educating your children, caring for you and your family when sick, keeping crime in check, etc



-- Anonymous, August 03, 2001


LOL, Jonno, I agree.

-- Anonymous, August 03, 2001

Why should I pay for all you sick people or for other people's kids education?

-- Anonymous, August 03, 2001

Isn't the point that Lee should pay?

-- Anonymous, August 03, 2001

It is indeed the point....Jonno just touched on a pet hate of mine for a moment and I was off on one :))

-- Anonymous, August 03, 2001

If ALL the money went to charity I'd go to Rob Lee's testemonial. As it isn't I'm staying away. Better things to do with my money than to give it to a millionaire in return for watching a meaningless friendly game of football.

-- Anonymous, August 03, 2001


Why should I pay for all you sick people or for other people's kids education?

Because without a fit and educated workforce your money won't buy you anything. Obviously...

-- Anonymous, August 03, 2001


Why should I pay twice then? once through tax and then another 20% stealth tax from the CSA....

-- Anonymous, August 03, 2001

Sounds like you slipped up there Gav. Which continent was that in then? :-)

-- Anonymous, August 03, 2001

Ho ho ho......

-- Anonymous, August 03, 2001

LOL Jonno

-- Anonymous, August 03, 2001


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