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Monies paid to family of young football talent

Tax issues

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Hi,

A client has called today very excited as his son has been offered a Pre Professional contract as a large club. The club will pay 'travel expenses' weekly ( four figures) to the parents, as well as as agreeing signing on fees for the child when they are older.

I have stated that this would be taxable on the parents, but cannot find any detail to back myself up. I cannot see any way it wouldn't be, less obviously any allowable travel, which in current times is Zero, albeit in normal time smay be around 400-500 miles per week.

Any advice or where to look would be greatly appreciated

 

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By SteveHa
12th Jan 2021 11:19

How young?

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By murphy1
12th Jan 2021 11:21

13

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