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Ben Hayes - Charlton Athletic programme

Taxation

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Cobblers staff turn on chairman

Northampton Town staff have taken the highly unusual step of using the club's website to criticise chairman David Cardoza.  He still owns the club and they demanded that he sell it 'within hours'.

The non-playing staff are in their fourth week without pay.   The club's bank accounts were frozen after Her Majesty's Revenue and Customs launched a winding up petition as a result of £166,000 of unpaid taxes. There is also an administration petition from Northampton Borough Council.

Winding up order served on Northampton Town

As football clubs start to get their finances in order, winding up orders served by Her Majesty's  Revenue & Customs (HMRC)have become rarer.  However, one has now been served on Northampton Town.

Messi to face tax charges

Lionel Messi and his father, who is his manager, are to face tax fraud charges and Spanish prosecutors are calling for a 22-month jail term.   They deny any wrongdoing and blame a former agent of the player.  Of course, even if they were found gullty, this would not necessarily be the sentence that was handed down.

We Want Answers Say Cobblers Fans

There is still no clarity about the projected takeover of Northampton Town.   A trilateral meeting yesterday between the current owners, the London-based Indian consortium interested in buying the club, and Northampton Borough Council was cancelled.    A meeting between the owners and the purchasers will go ahead.

Fans running a #WeWantAnswers campaign plan to demonstrate at Saturday's game.

Premier League boosts economy

There's a certain amount of boosterism going on in this report from Ernst & Young on the economic contribution of the Premier League and it would be interesting to check some of the methodology.  For example, do the figures on tax treat VAT in gross or net terms?

Foreign ownership creates opportunities for tax avoidance

Almost one in three Premier and Football League clubs are now owned overseas and this detailed report argues that it creates potential opportunities for tax avoidance, particularly when clubs are sold.  Football clubs, it is argued, are treated as speculative business opportunities.

Players face big tax demands

More than 100 football players are facing big tax demands from HM Revenue and Customs to pay back tax reliefs which the tax authorities claim constituted a form of tax avoidance.   Not all the players were big earners and some face bankruptcy or losing their homes.

Funding problems for Spanish clubs

Almeria are having difficulty in funding a new training complex as Spanish banks are reluctant to lend money to clubs because of their high level of debt.

Almeria president Alfonso Garcia also complains about the high level of tax that Spanish clubs have to pay given the extent to which they contribute to Spain's international profile. He is also upset by the way in which the tax authorities chase unpaid debts, but this is hardly surprising given Spain's problems.

Bulls get another reprieve

The long drawn out saga of Hereford United has seen the club given another seven days by the High Court to sort out its financial affairs and pay its debts.  

The club says that new investment is coming in, but the question is whether it is happening quickly enough given that Revenue and Customs want the £170,000 they are owed.   The former management team is also owed money.  It is evident that the patience of the court is wearing thin.

Bulls on the Brink

Hereford United, expelled from the Conference and playing in the Southern Premier League, are once again on the verge of going out of business.

The Bulls tried to agree a Company Voluntary Arrangement with creditors, but there was insufficient support.  In particular, Her Majesty's Revenue and Customs, which is owed £170,000, refused to agree. For some time now the tax authorities have lost their patience with football clubs them using them as a free credit card at the expense of other taxpayers.