Interesting.. I wonder who the clubs in question are http://www.thesun.co.uk/sol/homepag...ier-League-clubs-to-go-bust-like-Rangers.html
8 Premier League clubs ‘to go bust like Rangers’ Meltdown fear as tax probes launched Tax own goal ... Scots giants Rangers have entered administration EXCLUSIVE By ALEX PEAKE Published: Today at 00:36 TAX probes have been launched into eight top English football clubs, sparking fears they could be plunged into financial meltdown like Glasgow Rangers. 113 comments Related Stories Administration and 10pt axe hits Rangers RANGERS hit with 10-point deduction after appointing Duff and Phelps to run the club No big English club is safeRangers on brink of administrationRangers must be quick for Vic The official investigations into current and ex-Premier League sides could potentially involve hundreds of millions of pounds in unpaid tax. The revelation came as it was announced yesterday the debt-stricken Scottish giants had entered administration over an alleged £9million owed to HM Revenue & Customs. They are also facing another potential bill of more than £70million after an ongoing inquiry into the use of a tax avoidance device, Employment Benefit Trusts. EBTs allowed foreign stars to have their wages paid into a trust — and then withdraw the money once they were no longer living in Britain. They would then avoid paying the top 50 per cent rate of UK tax. But the taxman has declared that illegal — and claims Rangers' previous owners used the trusts to avoid paying millions of pounds in tax and National Insurance on the player payroll. Football finance expert Dr Chris Brady said: "Rangers may be the tip of the iceberg. EBTs became popular with clubs as a means of reducing crippling wage bills. We believe at least eight current or former Premier League clubs are being investigated." [email protected] Deflated ... Rangers have been struck with a 10-point deduction
It's obviously not you, as you have a rich foreign owner, it's not us, we're self sufficient, we spend far less than we earn. My money would be on; Stoke Wolves Everton Blackburn Manchester United Wigan Swansea West brom.
if 3 clubs are given a 10 point deduction we will be safe.. i would gladly pay my NI arrears if the Inland Revenue pull this one off..
Or, as someone else put it if all 8 get a 10 point deduction will could be embarking on a European adventure !
I have no doubt that there are clubs who have come to an arrangement with the Inland Revenue, just like Rangers did, to delay payment. Then they did not keep their end of the deal. But it's taken them months ( and in Hearts case years) for it to come to anything, so I doubt we will see any going into administration this year. Everton, Newcastle and Sunderland would seem good shouts though, and please let Norwich and Spurs be amongst them...then again it's in The Sun.....
My understanding was they had an agreement with HMRC, then failed to deliver. This has been hanging over them very publically for months. Sure if any Prem clubs were close to the same position we would know about it through deadlines being issued etc. But, thankfully, I am no expert, probably just trying not to clutch at the straw of other clubs being deducted points to help us out....
If the rumours about Blackburn missing a Dec 31 deadline for 10 million are true they will be one Everton and Wigan are both looking to sell up Wolves and Bolton are known to be skint Spurs dont pay tax anyway and claim they are an offshore company Swansea have only paid Welsh tax Norwich are always cheating so thats 8 kick the dodgers out NOW
It's The Sun, remember all the **** they wrote about us not so long ago. Personally I would hate to see any club be in that situation. ( Except one maybe.) Remember every club has its true and honest fans who don't deserve to go through that.
Surely we've got to be involved in there somewhere...cant believe a story like this does not include us...!!!
Who knows.....but, if it were true, imagine trying to untangle that mess. Wouldn't surprise me with teams like Everton, Man Yoo etc being in heavy debt. It was a nightmare for the FA to investigate the Faurlin case, would be years before they get to the bottom of this. Shame, champions league would have been nice.
