Home Business News England’s Euro squad nets £183.3 million a year and pays £85.4 million to the taxman

England’s Euro squad nets £183.3 million a year and pays £85.4 million to the taxman

25th Jun 24 12:43 pm

The latest research by finance expert, RIFT, has revealed that England’s Euro squad net a combined £98m a year in earnings after tax, paying out an estimated £85.4m to the taxman on an annual basis.

RIFT analysed the earnings of the 26 man England Euro squad*, looking at just how much the team makes playing for their respective club sides and the estimated tax paid on this income.

After a disappointing performance against Denmark, England will be looking to bounce back with a win against Slovenia tonight to keep them top of the group heading into the knock-out stages.

Three points is a small ask from the nation when you consider just how much the England players net on a yearly basis playing club football.

RIFT’s research estimates that in a single year, the 26-man squad takes home gross earnings to the tune of £183.3m. When taking income tax and national insurance into account, the England team contributes a hefty £85.42m in tax on an annual basis, meaning that total net earnings sits at just shy of £98m.

England’s highest earner is record goal scorer Harry Kane, who bags £21.1m a year playing in the Bundesliga. Based on Bavarian tax thresholds, RIFT estimates that Kane pays out a cool £10m a year on tax, leaving him with take home earnings to the tune of £11.1m.

England’s second highest earner also applies his trade outside of the Premier League. With a gross income of £17.6m, RIFT estimates that Jude Bellingham takes home £9.9m a year after accounting for tax requirements in Madrid.

John Stone’s is the highest paid member of the Euro’s squad playing football domestically. With gross earnings of £13m, RIFT estimates that Stones pays just over £6m a year to HMRC.

Rice and Foden complete the top five highest paid England Euro stars, earning £12.5m and £11.7m respectively each year, with £5.9m to £5.5m of that going to the taxman.

Brentford’s Ivan Toney takes home the smallest paycheck of England’s Euro squad. That said, he still makes just over £1m a year, with an estimated £477,014 going to HMRC.

Bradley Post, MD of RIFT, said, “It’s hard to know what weighs more for the current England squad, the expectations of the nation on their shoulders or their heavy tax contributions.

With such astronomical earnings, England supporters will be justifiably hoping that we don’t see another repeat of the Denmark game.

Although we often get frustrated with the earnings, and sometimes performances, of the men’s England football team, it’s worth noting how much they contribute to our UK services with the taxes, so let’s get behind the team for the final group game against Slovenia tonight.”

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