UK time is: 23:22:51
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

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

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.




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



For the very latest League Two odds

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

The Journalist

Writer: Site Staff Mail feedback, articles or suggestions

Date:Saturday June 13 2009

Time: 1:32PM

 

Have Your Say

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

Recent Rotherham United Articles

RUFC - Evans Explains 'Keeper Change (Wednesday October 1 2014)

RUFC - Gaffer On Last Night's Goals (Wednesday October 1 2014)

RUFC - Evans 'I'm Proud Of My Players' (Wednesday October 1 2014)

Millers v Blackburn Preview (Tuesday September 30 2014)

RUFC - Evans 'Broadfoot Was Excellent' (Tuesday September 30 2014)

RUFC - Evans 'Big Decision To Recall Rowe' (Tuesday September 30 2014)

RUFC - Head-to-Head v Blackburn (Tuesday September 30 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)

League Results (view all)

League Table (view table)

Team P W D L GD Pts
14. Cardiff 10 3 4 3 0 13
15. Bournemouth 10 3 3 4 1 12
16. Millwall 10 3 2 5 -3 11
17. Rotherham 10 3 2 5 -4 11
18. Huddersfield 10 3 2 5 -8 11
19. Brighton 10 2 4 4 -2 10
20. Birmingham 10 2 4 4 -6 10

Breaking League News

Bolton : 01/10/2014 23:00:00
Williams Joins Tykes on Loan
Fulham : 01/10/2014 23:00:00
LUFC Warnock dropped as Milanic wants stability
Leeds Utd : 01/10/2014 22:14:00
AFH: Another Week, Another Manager
Watford : 01/10/2014 21:57:00
Leeds Utd : 01/10/2014 21:47:00

Current Site Poll (view all polls)

How Many Would You Start Up Front Against Norwich?
Suggested By:  
One 25%
Two 75%
Three 0%