Premier League footballers are planning to dodge the new 50p income tax rate by asking clubs to pay their seven-figure salaries as interest-free loans, which attract a negligible levy.

The scheme, which is being considered by stars at Manchester United, Arsenal and Liverpool, would allow millionaire players to initially pay as little as 2.5% tax on some of their earnings.

The Premier League, which is the richest football league in the world, is having to resort to such measures to prevent an exodus of foreign talent following Alistair Darling’s announcement of the tax increase.

Only last week Andrey Arshavin, the Russian-born Arsenal midfielder, revealed that he had received an “unpleasant surprise” from

Britain’s high taxes and was now seeking a rise on his £80,000-per-week salary.

This weekend accountants at Baker Tilly, who advise 40 top players at clubs including Arsenal, Liverpool, Bolton and West Ham, admitted that foreign players were examining whether their net pay would be higher in less prosperous leagues in countries with lower tax regimes.

Graham Garner-Jones, a partner at the firm, said he had been asked by a Spanish Premier League footballer to find out if he would be better off returning to his native country.

“This player earns £50,000 per week, or around £2.5m a year, and at the moment his take-home pay is a shade under £30,000 per week,” said Garner-Jones. “When the 50p tax rate comes in, he will be around £4,000 per week worse off playing in England than in Spain, where there are no planned (tax) rises.

“It is definitely the kind of number that’s exercising players’ minds and some are definitely considering whether to be here or not. This is a big issue for clients.”

Garner-Jones said players wanted to find ways to escape the full impact of the 50p income tax rate, which will effect those earning £150,000 and above from April 2010.

One scheme under discussion involves paying part of a player’s wages in the form of an interest-free loan. British player could use the same scheme.

HM Revenue & Customs treats loans as a “benefit in kind” and taxes only 5% of the amount borrowed. So a loan of £1m would make a footballer liable for 50% tax on only £50,000 of that amount, an overall tax rate of 2.5%.