UK time is: 22:12:29
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 One odds

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

The Journalist

Writer: JBFox Mail feedback, articles or suggestions

Date:Friday June 12 2009

Time: 4:47PM

 

Have Your Say

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

Recent Leicester City Articles

Stats: Leicester v Sunderland (Saturday November 22 2014)

One Game At A Time For Pearson (Friday November 21 2014)

Injury Boosts For Pearson (Thursday November 20 2014)

De Laet - Fans Will Be Key (Wednesday November 19 2014)

De Laet Signs New Leicester Deal (Wednesday November 12 2014)

Stats: Southampton v Leicester (Saturday November 8 2014)

Archived Leicester City Articles

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

League Results (view all)

League Table (view table)

Team P W D L GD Pts
14. Sunderland 12 2 7 3 -7 13
15. Crystal Palace 12 3 3 6 -4 12
16. Hull City 12 2 5 5 -3 11
17. Aston Villa 11 3 2 6 -11 11
18. Leicester City 12 2 4 6 -7 10
19. Burnley 12 2 4 6 -12 10
20. Q.P.R. 12 2 2 8 -12 8

Breaking League News

Newcastle : 23/11/2014 20:36:00
Villa Aren't Carrying The Can For Vlaar Contract
Aston Villa : 23/11/2014 19:22:00
Lambert Wants More Progress Against Southampton
Aston Villa : 23/11/2014 19:14:00
Tadic Was Our Failed January Buy
Aston Villa : 23/11/2014 19:05:00
Hull City : 23/11/2014 17:49:00

Current Site Poll (view all polls)

Sunderland MotM
Suggested By:  Svens
Schmeichel 0%
De Laet 0%
Wasilewski 0%
Morgan 0%
Konchesky 0%
Mahrez 0%
Cambiasso 100%
James 0%
Schlupp 0%
Ulloa 0%
Vardy 0%
Sub - Nugent 0%
Sub - Knockaert 0%
Sub - Wood 0%