UK time is: 17:05:26
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

RUFC - Clubs to face financial scrutiny?

League Chairman, Lord Mawhinney has told the BBC that the league are contemplating a plan for clubs to give them more information about their finances and would be put to the Chairman of each club next year.

The BBC have found out that between fifty and sixty League and Conference clubs owed a total of fifty million in tax and Lord Mawhinney said, 'We are looking at whether we should put in place arrangements that require clubs to give more information about their finances.'

As we found out when the Millers went into administration, the biggest creditor at a football club is often the HM Revenue and Customs. But, under both Football League and Football Association rules other creditors in the game, such as the players, get priority. Several Chairman admitted to the BBC that clubs running up huge tax debts were effectively being bankrolled by HMRC.

Gary Sweet, owner of Luton Town, whose club owed 2.5m in taxes said that the HMRC were wrong to allow the debt to spiral to such levels. 'I would like to know exactly what the Revenue's stance is on moving forward with football clubs and football businesses because I think that position is wholly disastrous for football,' he said.

HMRC said that they are sympathetic to to businesses experiencing cash flow difficulties but with the vast majority of businesses paying their tax on time then they owe it to these people to ensure that those who pay late do so only when they have good reason.

Lord Mawhinney says that the Football League are considering proposals to get more finacial information from clubs and to stop clubs from building up large unpaid tax bills but said the clubs would have to vote on it. 'As a former health minister,' he said, 'I believe that prevention is better than cure.'




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



Click here to join in the debate on the club forum.

The Journalist

Writer: Herringthorpe  Mail feedback, articles or suggestions

Date:Tuesday November 11 2008

Time: 11:06AM

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Rotherham United Articles

RUFC - Evans 'Becchio Deserved Goal' (Saturday September 20 2014)

RUFC - Gaffer Delighted With Second Half (Saturday September 20 2014)

Another Point At Home For Millers (Saturday September 20 2014)

Millers v Addicks Preview (Saturday September 20 2014)

RUFC - Evans Says Brandy Will Be Back (Friday September 19 2014)

RUFC - Head-to-Head v Charlton Athletic (Friday September 19 2014)

Archived Rotherham United Articles

List All Vital Rotherham Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

1. rybel_b 808
2. herringthorpe 650
3. sixpence 374
4. miller4life 234
5. mos60 38
6. mvmiller 29
7. Millie Miller 24
8. nearlyataff 19
9. axholme 14
10. nogginthenog 13

League Results (view all)

League Table (view table)

Team P W D L GD Pts
16. Cardiff 8 2 3 3 -1 9
17. Wigan 7 2 2 3 1 8
18. Brighton 8 2 2 4 -2 8
19. Rotherham 8 2 2 4 -4 8
20. Birmingham 8 1 4 3 -7 7
21. Bolton 8 1 2 5 -6 5
22. Huddersfield 8 1 2 5 -11 5

Breaking League News

Holloway Gobsmacked With Draw
Millwall : 21/09/2014 16:47:00
Hyypia - We Can't Be Complacent
Brighton : 21/09/2014 16:40:00
Warburton - We Weren't Good Enough
Brentford : 21/09/2014 16:16:00
Clark Felt He Made the Right Tactical Call
Birmingham : 21/09/2014 16:15:00
Passion Was Called For, And They Showed It
Cardiff : 21/09/2014 16:09:00

Current Site Poll (view all polls)

How Many Loan Players Do You Think We Need When The Window Opens?
Suggested By:  
None 29%
One 19%
Two 8%
More 44%