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Author Topic: Have Saracens broken salary cap rules?  (Read 4616 times)

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Fursty

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Re: Have Saracens broken salary cap rules?
« Reply #15 on: Monday 04-Mar-2019, 14:14* »
I think there's a lot of confusion here between generating a tax liability and breaching the salary cap.

It's perfectly possible that shareholding of the companies was transferred to the players at below market value which would generate a tax liability (which would almost certainly be settled lawfully), it would also count as remuneration under the salary cap rules - however there is no reconciliation between amounts declared under the salary cap and individuals tax returns.

However one point I'd make is that assessing fair value can be tricky, particularly if the properties held by this company were bought from another of Mr Wray's companies. Also much more minor but potentially beneficial to the players is that all of the admin, legal, conveyancing and accounting etc might be performed by another group company and re-charged at below market rates.

 

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