|
|
10 Feb 2010
The future of three football clubs hang in the balance today, as they appear in the high court to battle against winding-up orders issued against them by the taxman.
Portsmouth, Cardiff City and Southend United will defend themselves against the petitions to wind them up.
"Winding-up any of these clubs would ultimately result in their extinction, player contracts will be terminated with immediate effect and they would all become free agents today," said David Hudson, head of formal insolvency at Baker Tilly.
"This is the extent of the power HMRC wields over the futures of these three clubs."
Further reading:
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
subsidy
Why should the taxpayer subsidise overpaid footballers ! HMRC does wield a lot of power and does not usually flinch when applying it to small business ! It is about time these larger entities paid what was owed and dare I say their fair share!
Posted by: Spike, 10 Feb 2010 | 00:00