Financial Distribution –
TEPP oversees and distributes additional payments that are made to players for playing for England including prize money from ICC events and bonuses for winning England matches and series. This does not include salaries, tour fees or match fees, which are paid by the ECB or via your county. The distribution of commercial monies (including fees for appearances for sponsors and the ECB) and Partnership profits is also managed by TEPP. TEPP WILL DISTRIBUTE THE FOLLOWING IN ACCORDANCE WITH THE PROVISIONS OF THE TEPP PARTNERSHIP DEED
• Type of contract held with ECB • Playing appearances for England • Commercial activity undertaken
• Team Bonuses for winning matches and series are distributed by TEPP between players in the relevant winning teams and squads on a pro rata basis, dependent on the number of games played and won; and • Commercial revenue, from the Commercial MOU, licensing income and other generated revenues.
Commercial monies can be paid either directly to a player, or to an IRC if your commercial rights have been assigned to the IRC and the required paperwork has been completed alongside the TEPP Partnership Deed or Deed of Adherence.
ADMINISTRATION & ACCOUNTS All financial administrative functions of the partnership are undertaken by Dyke Yaxley Limited, TEPP’s accountants. Annual Accounts will be prepared following the end of the Partnership accounting year (being 5 April) and will show the total monies received by the Partnership from the various sources and the various costs incurred. The difference is the total profit which is distributed to the partners based on:
TAX Where commercial revenues are paid directly to a player, you must be aware of the tax position as members of the TEPP, including: • Tax is due on an England player’s share of the profits • TEPP will hold back the estimated higher rate of tax on your share of the profits • At the appropriate time the Partnership will release to you the appropriate sum to cover your tax obligation
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