|
|
19 Jan 2010
Portsmouth FC could be the first Premier League football club to enter administration after failing to stop a winding-up petition from the taxman.
HM Revenue & Customs applied for the petition against last month, but the club argued that the VAT part of its tax bill was too high. However, a High Court judge dismissed the case, the BBC reported today.
A spokesperson for the Judicial Communications Office said: “At the High Court today Mr Justice Newey dismissed an application from Portsmouth City (sic) Football Club Limited for a winding-up petition to be struck out. A further hearing to consider HMRC's winding-up petition will take place in due course.”
Currently bottom of the Premier League, Portsmouth would face a nine-point deduction if they enter administration.
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment
No Administration
I am a retired Accountant.
Accountancy Age, of all people, should know the Law. Administration is NOT a possibility. It is Liquidation or nothing.
Posted by: Ronald Keay, 10 Feb 2010 | 00:00