Fees,fines,taxes,and Wages

9th of Feburary is the date that all clubs must have their financial obligations to the Pep settled. 

Please read the following and act accordingly. 

It's that time where fee and fines and the like must come in. We didn't do this last year because the league was an abomination, but we did it the year before and it was successful and teams got their prize money. This year the prize money will be etter than ever but inorder to get it. You gotta pay in. So below are a break down of payments pending. 

1. Registration Fee

As documented in the rules signed and agreed by all members. A £10 entry fee must be paid up into the pep account. The details of this account will be texted to each pep member inorder to facilitate payment. This must be paid by 9th February as must all pep related bills. Not doing so will invite financial penalties or at worse repossession

2. Fines 

All clubs should he aware of the fines they have due as it is documented in the "Fees and fines" page. Whatever your total tallies up to on that page must be payed on February 9th along with any other commitments

3. Wages

Player wages must be payed on the same date. Each teams wages will be worked out by the clubs manager and posted on the blog before the pay date. All wages must be worked by the corresponding players starting wage on master league. 

4.Tax

All Deals that are not free transfers are taxed at a fixed rate of %20. For example if Rovers sell a player to united  for  £100 his tax on that deal is £20. In the same deal united received a player, so in that case united would have to pay tax amounting to %20 of the players value in master league taking into consideration pep proportionate monetary changes. Ie in the pep £1million = £1 pound in real terms. Therfore if the player united received was worth 20million in master league ,his tax would be £4. The same rule applies to swap deals and also to deals where cash and players have changed hands going the same way. Tax must be worked out for the player and the cash. 

Each team must work out their own tax and submit a tax return to the pep and subsequently deposited the cash into the pep bank by the 9th of February. 

Any club failing to do this and or any club lying on their tax return will be liable for fines and in extreme cases repossession.