Taxman plots Leeds United challenge

HM Revenue & Customs is poised to challenge the deal offered by Ken Bates
at Leeds United, which will see creditors receive only one penny in the pound.

The taxman is owed £7m, and is said to be on the warpath over Bates’
proposal, which will see him regain control after putting the club into
administration at the end of last season.

An HMRC insider
The Daily Telegraph
: ‘We are furious at the raw deal we have got out of this
debacle. We are getting a penny in the pound for £7m of public money which
should be used to pay for hospitals and schools and other important public

Creditors have until next Tuesday to dispute the settlement. A meeting was
held yesterday, attended by economic secretary to the Treasury Ed Balls, to
discuss a possible challenge, the

Further Reading:

the Telegraph story

blames revenue for Leeds collapse

Take part in our Green Accountancy Survey
to win £50 of wine

Related reading