THE BIGGEST clubs in the country owed HM Revenue & Customs more than £20m.
The taxman was owed £22m from both the Premier League and Football League in PAYE, VAT and National Insurance Contributions, for the last tax year ending April 2010, a freedom of information request by sportingintelligence found.
The 20 Premier League clubs were estimated to owe £14.4m consisting of £8.6m of VAT debts and £5.8m in PAYE and NIC.
Clearly Portsmouth FC ran up significant debt to numerous creditors, including HMRC,” Dan Johnson, the Premier League’s head of communications, told the publication.
“However, the Premier League’s starting position is that there should be no debt to HMRC, which is why we have introduced a raft of financial criteria to encourage clubs to run themselves in a responsible and sustainable manner.
“This includes quarterly reporting on any overdue HMRC payments and the ability to intervene if clubs get behind.
“When combined with HMRC’s new policy of, quite rightly, not permitting clubs to run up debts over time, this will more than mitigate this issue going forward.”
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...