Swindon to tackle Revenue target
The Inland Revenue has today ordered struggling football club Swindon Town to pay its £600,000 tax arrears by the end of February.
New club directors including ex-champion jockey Willie Carson and several potential investors have admitted they only just managed to beat being wound-up.
But the Nationwide Division 2 league club, which came out of administration at the beginning of 2001, today told AccountancyAge.com it was confident it would be able to meet the Revenue demands.
A spokesman for the club, said: ‘It is the case that we owe the Revenue this amount, but we are confident of being able to meet this demand. We have a number of investors in place and several more looming in the wings.’
The club has been told it cannot buy any new players until the debt is paid, but the Carson-led consortium, which took over the club last month, says it has Pounds 1m ready to invest.
The Revenue was unable to comment on the situation.