TaxCorporate TaxThree footy clubs face insolvency judgment day

Three footy clubs face insolvency judgment day

Taxman's battle to fill the Treasury's coffers focuses on football clubs

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:

HMRC
in talks over plight of Portsmouth FC

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