Jamie Carragher has found himself on the front page of the newspapers this week after committing a ‘huge mistake in a moment of madness’ when he reacted badly to a Manchester United fan goading him after the Old Trafford showdown with his old club Liverpool.
The distinction between taxable remuneration arising from employment and tax-free compensation for the surrender of employment rights is a crucial one but has proved perennially tricky. In a test case of critical importance to professional sports clubs and their players, a tribunal ruled that termination payments made to two Premier League footballers fell on the tax-exempt side of the line.
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