Bates blames Revenue for Leeds collapse

Leeds chairman says HMRC caused club to go into administration

Written by AccountancyAge.com

The collapse of Leeds United and its slide into administration was due to the action of HM Revenue & Customs, according to the club’s outspoken chairman, Ken Bates.

Speaking on BBC Radio Leeds, he accused the HMRC of acting ‘extremely unreasonably’.

‘Over the last two-and-a-half years Leeds have paid between £15m and £20m to the Revenue, but our cash flow dried up and we asked for a holiday.

‘The Revenue said no and put foward the petition to wind up the club. I'm sorry small creditors have lost money, but that is totally down to the Revenue,’ he said.

Further reading:

Leeds United CVA approval squeezes through

Ken Bates: Leeds could be doomed without CVA

Leeds United creditors' meeting set for 1 June

Advertisement

Enjoyed this article? Help spread the word:

Comments

White papers

Related jobs

More Accounting jobs

Spotlight

Management Consultancy Top 75

21st annual survey shows another £1bn on revenues

bryan clark, chief information officer at kpmg europe

Profile: Bryan Clark, chief information officer at KPMG Europe

Getting the right infrastructure is instrumental in consolidating KPMG’s European...

Apprentices, Arnie and Archos in the latest YP

September issue of Young Professional appraises the year for our...

Find your next job

Find your next job

Advertisement

Salary Checker

Newsletters

Sign up here for the very latest news delivered to your inbox. Choose from the following options:

Search white papers

Search white papers

Advertisement

Have your say

Should fair value accounting be suspended in the wake of the market crisis?
Yes, it's a big part of the problem
No, don't shoot the messenger

Job of the week

More finance jobs

Advertisement

Your next job