Writer: Site Staff
Date:Saturday June 13 2009
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.
Date:Saturday June 13 2009
RUFC - Miller In Team Of The Week (Wednesday April 23 2014)
RUFC - Douglas 'Why We've Put Tickets On Sale' (Wednesday April 23 2014)
RUFC - Play-Off Ticket Information (Wednesday April 23 2014)
RUFC - Millers Interested In Winger? (Wednesday April 23 2014)
RUFC - Inspirational Words For Evans From Rogers (Wednesday April 23 2014)
RUFC - View From The Opposition - Port Vale (Wednesday April 23 2014)
Stats: Rotherham United v Port Vale (Tuesday April 22 2014)
RUFC - No Apologies From Boss For 'Rotation' (Monday April 21 2014)
RUFC - Evans 'Kieran Has Hunger And Desire' (Monday April 21 2014)
RUFC - Red Card Or Not Today? (Monday April 21 2014)
|5. Leyton Orient||44||23||11||10||+36||80|
|Walsall Fan Speaks About Facing Legends
» Walsall : 23/04/2014 20:31:00
|Vital Swindon Awards 2013/14
» Swindon : 23/04/2014 20:02:00
|RUFC - Miller In Team Of The Week
» Rotherham : 23/04/2014 19:07:00
|RUFC - Douglas 'Why We've Put Tickets On Sale'
» Rotherham : 23/04/2014 18:37:00
|Boss Praises His Troops
» Crawley : 23/04/2014 18:01:00
|RUFC - Play-Off Ticket Information
» Rotherham : 23/04/2014 17:16:00
|Board Apologise For Mistakes This Season
» Shrewsbury : 23/04/2014 16:07:00