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.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group