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Griff

End of the Testimonial ?

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Buried in last week's Budget was a statement that HMRC was inviting submissions on the withdrawal of the special tax treatment for the sporting testimonial.

 

Does this mean the end of the traditional Testimonial season - or will they continue ? :dontknow:

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If it is it's wrong. Professional footballers earn so much that if they are at a club for ten years they need never work again. This isn't the same for Rugby players (League or Union) and even less so for cricketers who, if they do not make the International scene, earn very average money indeed.

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If it is it's wrong. Professional footballers earn so much that if they are at a club for ten years they need never work again. This isn't the same for Rugby players (League or Union) and even less so for cricketers who, if they do not make the International scene, earn very average money indeed.

 

Ryan Giggs has just announced getting £1m from his third Testimonial game.

 

In all fairness, taxi drivers and catering workers don't get a big wedge but they get taxed on the tips they get. Well, in theory, anyway.

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I think testimonials in recent years have played a part in keeping players at clubs and in the Sport of RL too

There are a few effects. 

 

Firstly, you won't need RFL approval to have a Testimonial.  Anyone can have one.  I can have one.  You can have one.

 

Secondly, the consequence of that is that the Testimonial might lose its cachet and Testimonials in general might make less money.

 

Thirdly, the player doesn't need a Testimonial Committee.  He can run it himself.

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Ryan Giggs has just announced getting £1m from his third Testimonial game.

 

In all fairness, taxi drivers and catering workers don't get a big wedge but they get taxed on the tips they get. Well, in theory, anyway.

Pretty much all the proceeds from the testimonials for Premier League players go to charity. It's very very rare these days that a player gets the proceeds (I'm unaware of any cases). Tax exemptions for charity should remain intact.

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Pretty much all the proceeds from the testimonials for Premier League players go to charity. It's very very rare these days that a player gets the proceeds (I'm unaware of any cases). Tax exemptions for charity should remain intact.

 

That's a fair point and I'm sure the exemptions will be in place for properly structured charities.

 

Are you aware of any examples of charitable Testimonials outside major soccer clubs ?

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Never ever agreed with them, there are thousands of Rugby League players, the vast majority pay "subs" to play the game they love, a small minority are lucky enough to get paid for the same privilege, and some get paid enough to enable them to nothing else.

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