Wilf Zaha - loaned to Lyon

[Jordan]

Just now, westernpark said:

Fair enough if this breaks down over tax. However, what the club cannot afford is to them go down the list and see Ayew as an adequate replacement. That’s where they should be criticised on this, although past club behaviour on transfer always leaves open the possibility we could do more, to get this done.

Yeah, absolutely this.

 

I feel like the board makes too many presumptions that what they want to happen will happen and when hopes don’t turn into reality, we’re left with no good backup plan (whether that be transfers, 1st team squad wage/transfer budgets, or even with two of the last three times they’ve changed managers).

[Jon the Hat]

4 hours ago, StanSP said:

What tax implications would they be? Our side, players side? 

He’s not been out the country all that long so possibly he could end up paying uk tax rates on his Turkish earning over the past year.  Same reason Jordan Henderson went to Ajax instead of back to the UK.

Edited 14 August 2024 by Jon the Hat

[Phenom]

[trooky]

44 minutes ago, Claudio Fannieri said:

But the club should have taken all this into consideration and when having conversations with Zaha’s representatives asked if they had considered the tax implications of returning and what if any impact that would have to any wage demands etc. 

The club haven't announced his signing, they've taken all this into consideration and pulled out to pursue Ayew instead.

[moore_94]

 

[beastfootballx]

 

[Tuna]

Ladies and gentleman, it's back on

[beastfootballx]

Galatasaray and Leicester have an agreement and it is ongoing. Zaha has an issue with his salary / tax system in England and his agent is trying to resolve it. Zaha's side says that Zaha had established a company in England in the past years and evaded taxes, and that there was a problem with the salary/tax ratio again and that they were trying to solve it.

[tickler28]

1 hour ago, Nick said:

Really disappointed, won’t lie!

I'm not ...not a team player....doesn't suit the mould of player we bring in at all....would have been a waste of money

[MrsJohnMurphy]

18 hours ago, RumbleFox said:

I saw them twice tbf, back in the day. Though in hindsight they’re pretty shite. 

I'm a man of simple tastes

[Tuna]

Lol at you amateurs trying yo beat quick draw moore94 to post the tweet

[MPH]

Come on, UK tax system, have a heart…

[Mickyblueeyes]

3 minutes ago, moore_94 said:

 

Dear HMRC, 

 

Please explain how IR35 works please.

 

 

[MPH]

Just now, tickler28 said:

I'm not ...not a team player....doesn't suit the mould of player we bring in at all....would have been a waste of money

You’re right… we don’t need to be signing skillful Match winners!! That’s not the modern Leicester way!

[Groby_Blue]

Do we really want to sign the Jimmy Carr of professional football... 

[urban.spaceman]

Might have been handy if we’d had a Leicester based MP in the actual government…

[1972 Fox]

38 minutes ago, Stevosevic said:

I wanted this to happen but I do question how much he would be bothered playing for us.

 

He is Palace through and through. Not sure playing in a relegation scrap for a club in the midlands is going to get him going tbh. 

He was Arsenal through and through when they were interested in signing him from Palace a few years back.

[The_77]

34 minutes ago, Jordan said:

I know LCFC aren’t the best at completing transfers but I’m inclined to give the club a little more slack here as I’m also inclined to think Zaha’s agent hasn’t been doing the best by his client these last few years (and also that Zaha himself may not be the best decision-maker). After all, Zaha has wanted out of Turkey within a year of going there. 

 

I also think @moore_94’s hypothesis is correct and the club tried a few other reasonable options with Galatasaray and Zaha to make this work.

I’m coming around to this hypothesis. It seems like Zaha’s business team thought they were in the clear and didn’t consider all of the implications of a move back to the UK. 

[TrentFox]

6 minutes ago, Mickyblueeyes said:

Dear HMRC, 

 

Please explain how IR35 works please.

 

 

Ssssshhhhhhhhhh !!!!!!!! 

[The Doctor]

2 minutes ago, urban.spaceman said:

Might have been handy if we’d had a Leicester based MP in the actual government…

Jon Ashworth might as well be, seen more of him since he lost his seat, getting mad at the voters for not voting for him, than at all in the shadow cabinet.

[DJ Barry Hammond]

25 minutes ago, Jon the Hat said:

He’s not been out the country all that long so possibly he could end up paying uk tax rates on his Turkish earning over the past year.  Same reason Jordan Henderson went to Ajax instead of back to the UK.

I’m not sure he’d pay UK tax on past earnings - that would be down to his residency status and I imagine for the most part of the previous tax year he’d qualify as an overseas citizen (worked abroad, fewer than 91 days spent in the UK).

 

But - the Turkish tax rate for sportsmen/women is a fixed 20% I believe.

 

Over here, the UK higher tax rate of 45% would apply to Zaha’s earnings, so quite a difference.

 

However, I think the added complication in this comes from the fact the football season straddles a tax year (tax years start/end on the 6th/5th April each year).

 

I believe what could happen if he made the move is that he’d end up being classed as a UK resident not only for the current tax year, but for the one immediately after it too - i.e. the loan deal could have impacted on his net earnings long after his loan with us.

 

Obviously it’s complicated tax stuff and so for this to come up as an issue probably suggests we were quite far down the road with things - it’s the sort of thing that would come up when your solicitor / accountant goes over a contract! 
 

 

Edit: If he’s paying himself via a company - I have no idea how that would work taxation wise.
 

It probably means he receives ‘dividends’ from the company which has a slopping tax rate of up to 39.35% in the UK - the comparative rate in Turkey is 10% I believe.

Edited 14 August 2024 by DJ Barry Hammond

[ALC Fox]

Fvck me, football is shite.

 

Just loads of high net worth individuals fvcking about.

 

PRS, FFP, Clearlake Capital, King Power, Macquarie Bank, shell companies, multi-club models, tax evasion, points deductions, "I'm alright, Jack" attitudes, Super League, 39th game, World Club Cup nonsense.

 

Fvck me.

[South Shire Fox]

11 minutes ago, tickler28 said:

I'm not ...not a team player....doesn't suit the mould of player we bring in at all....would have been a waste of money

Amazing that hes managed 10 plus years in the Prem and was often regarded one of the best players outside the top 6 by not being a team player

[orangecity23]

7 minutes ago, urban.spaceman said:

Might have been handy if we’d had a Leicester based MP in the actual government…

We do have a teammate's sister in the government though, so maybe he should talk to BDCR

[Babylon]

14 minutes ago, MPH said:

Come on, UK tax system, have a heart…

Literally spat my tea over my desk.