West Ham United talks likely with HMRC after David Gold news – Finance Expert
We’re delighted to welcome football finance expert Dr Daniel Plumley as our exclusive West Ham United columnist. Each week he’ll be giving his views on the biggest talking points at the London Stadium...
Dan Plumley has insisted that HMRC and West Ham United are likely in talks to thrash out any possible inheritance tax due from David Gold’s shares.
The Daily Mail has recently reported that a £70million bill is possible with parts of Gold’s shares being place in a family estate after his death.
Plumley admitted that there will be conversations happening with the outcome difficult to predict due to the shares being passed through.
“It has gone into the family estate so that’s why they’re looking if it is liable for inheritance tax because it’s linked to an estate,” he exclusively told West Ham Zone.
“That’s where the figures are coming from, he held 25.1% so that’s what the £70million figure is held against for the 40% inheritance but then it says that 18% are in his name with the remainder in a family trust so not sure how that works.
“That’s what is driving this, it’s that the shares have been passed to the estate which is then potentially subject to that tax. It is difficult to say what will happen as it is not a usual one but you would imagine some conversations behind the scenes with the club and HMRC to try and thrash that one out and see what the impact is.”
This is certainly one to watch in the coming weeks and months.
With Daniel Kretinsky also an active player with an option to purchase these shares, it will be interesting to see if they pass through more hands at the end of the season.