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League Clubs Approve New Tax Regulations

League Clubs Approve New Tax Regulations

At their Annual General Meeting, Football League clubs have voted to introduce new financial regulations relating to tax payments.

Once necessary practical arrangements have been made, any club that falls behind with its employee related payments to HMRC will be subject to a transfer embargo until such time as the debt is cleared.

Football League Chairman Lord Mawhinney explained: 'It is only right that we do not permit clubs that are unable to meet the costs associated with their existing playing staff to make further new player commitments.'

Clubs have also agreed to give The League written permission to monitor, as appropriate, their tax affairs directly with HMRC, who have welcomed this new arrangement.

Lord Mawhinney said: 'This new regime will provide us with an early warning system where clubs are facing financial problems. It should also help prevent HMRC debt reaching levels that otherwise could hinder the potential rescue of the club through a CVA.

'More importantly, football generally needs to develop a culture of paying its debts rather than putting them off for another day. This will help our clubs to become more financially sustainable in the longer term.'

Clubs also approved a proposal from Derby County to increase the number of substitutes for Coca-Cola Football League matches to seven (from the current five), of which three may enter the field of play.



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Writer:Site Staff
Date:Saturday June 13 2009
Time: 1:32PM

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# Team P W D L Pts. GD
C Newcastle 46 29 7 10 94 45
P Brighton 46 28 9 9 93 34
3 Reading 46 26 7 13 85 4
4 Sheff Wed 46 24 9 13 81 15
5 Huddersfield 46 25 6 15 81 -2
6 Fulham 46 22 14 10 80 28
7 Leeds Utd 46 22 9 15 75 14
8 Norwich 46 20 10 16 70 16
9 Derby County 46 18 13 15 67 4
10 Brentford 46 18 10 18 64 10
11 Preston 46 16 14 16 62 1
12 Cardiff 46 17 11 18 62 -1
13 Aston Villa 46 16 14 16 62 -1
14 Barnsley 46 15 13 18 58 -3
15 Wolves 46 16 10 20 58 -4
16 Ipswich 46 13 16 17 55 -10
17 Bristol City 46 15 9 22 54 -6
18 Q.P.R. 46 15 8 23 53 -14
19 Birmingham 46 13 14 19 53 -19
20 Burton 46 13 13 20 52 -14
21 Forest 46 14 9 23 51 -10
R Blackburn 46 12 15 19 51 -12
R Wigan 46 10 12 24 42 -17
R Rotherham 46 5 8 33 23 -58
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