New England manager Fabio Capello is the subject of a tax investigation in Italy - but the Football Association is confident he will not face any charges.
Capello's camp are confident he will be cleared of any wrongdoing
"I have assured the FA today that my finances are in order," said the 61-year-old Italian in a statement.
"And I am not aware of any matters which would be of concern."
Italian prosecutors launched an inquiry into Capello's earnings as Juventus boss as part of a wider probe into allegations of corruption at the club.
"With my advisors, I have always endeavoured to conduct my financial business with integrity," Capello added.
"I understand that these inquiries in Italy are part of a wider investigation into the finances of many high-profile individuals."
It appears the FA has known about the matter for some time and is confident nothing substantive will emerge.
"It is our understanding that the Italian tax authorities are currently following a procedure of looking into the finances of a number of high-profile individuals," said an FA spokesman.
"We have spoken to Fabio and his advisors about today's newspaper reports in Italy and they have explained the facts.
"They have also given us their assurances that Fabio Capello's tax payments are in order.
"The FA have no further comment to make on this subject."
BBC Radio 5 Live's Gordon Farquhar has spoken to Capello's son, who told him there was nothing to worry about.
They want to understand how he was paid at Juventus.... we're very confident about it and comfortable that everything is clear
"This is a simple investigation involving his fiscal position," said Pierfilippo Capello.
"This kind of investigation is going on with a number of famous people in Italy with big cash flows.
"They want to understand how he was paid at Juventus. We're very confident about it and comfortable that everything is clear."
Capello - who will earn a reported £6m a year as England boss - added that proceedings started a while ago and revealed they could now go two ways.
Either the Italian courts will clear Capello and close the case or he will be asked to explain his earnings to them.
But he clearly expects it to be the former, pointing out that the vagaries of the Italian justice system have made the story appear more sensational than it apparently is.
On the basis that the tax authorities have no reason to believe Capello has committed any offence but are merely investigating his situation as a matter of routine, the case automatically involves the Italian courts because he is paid more than 200,000 euros per year.
Capello watched the FA Cup replay between Reading and Tottneham
As with anyone whose salary advances into the millions, Capello's financial dealings are likely to be complicated and he has assured the investigators he will provide any further information they require for clarification on any specific point.
It has also been confirmed that while Capello has spent plenty of time in Switzerland, at no time has he ever been domiciled in the country for tax purposes.
He also lived in Spain for a time while boss of Real Madrid and also has a home north of Milan.
Capello, who was boss of Serie A side Juventus between 2004 and 2006, was appointed as Steve McClaren's successor as England manager in December.
The former AC Milan, Roma and Real Madrid coach has just returned from Zagreb, where he helped draw up England's fixture list for their 2010 World Cup qualifying campaign.
His first game as England boss takes place on 6 February, when Switzerland visit Wembley.
Guus Hiddink, once tipped to succeed McCLaren as England boss, was convicted of tax evasion in February 2007 and handed a six-month suspended sentence and fined £30,000.
The 61-year-old Dutchman, now boss of Russia, was accused of evading more than £900,000 in Dutch taxes by falsely claiming to be a resident of Belgium in 2002 and 2003.