Lots of big companies have an 'understanding' with the tax man regarding the payment of taxes, but I'd suggest this would not extend to PAYE tax liabilities which is payable on or around the 19th the month after the payroll has been run. This includes the employers liability. Now if this isn't paid on time there are penalties and interest payable which are (I believe) extremely high in terms of percentage. I also believe this is calculated daily. I haven't been in the UK for 3 years so can't quote the percentages but they may well be published in the HMRC web site, unless there's a tax consultant on the board who can clarify this? I would suggest with UK Plc being skint the 'understanding' can quickly be removed and some clubs may well struggle. I really believe Pompey and Rangers are the tip of the iceberg. HMRC are smarting from losing the Redknapp case, so I'd not be surprised if they pursue football (in general) in the near future.
I don't claim to be a financial expert either taff, but was expressing the opinion that HMRC will be taking serious action somewhere in football. This could well result in the demise of a club but might just force a major rethink in football finances and go some way to the return of the game we used to know. The one where we support our team and spend more time discussing the match than dodgy financial dealings.
