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League Clubs Approve New Tax Regulations

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.

"We thought it was an idea that deserved further discussions, so we agreed to take it on.

As a club with a lot of up-and-coming young players, this new rule might give some of them the chance to gain some first-team experience."

A Derby spokesman told the Evening Telegraph when commenting on the increasing of substitutes from five to seven.

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Writer:Gazza
Date:Sunday June 14 2009
Time: 11:47AM

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League Table

# Team P W D L Pts. GD
1 Brighton 32 20 8 4 68 28
2 Newcastle 31 21 3 7 66 35
3 Huddersfield 31 19 4 8 61 7
4 Reading 32 18 6 8 60 6
5 Leeds Utd 33 18 4 11 58 11
6 Sheff Wed 32 17 7 8 58 11
7 Norwich 33 15 6 12 51 11
8 Fulham 31 13 10 8 49 15
9 Barnsley 33 14 7 12 49 4
10 Preston 33 13 10 10 49 4
11 Derby County 31 13 8 10 47 7
12 Cardiff 33 13 6 14 45 -2
13 Ipswich 33 10 11 12 41 -7
14 Birmingham 33 10 10 13 40 -14
15 Brentford 31 10 7 14 37 -1
16 Q.P.R. 32 10 7 15 37 -11
17 Aston Villa 31 8 12 11 36 -6
18 Forest 33 10 6 17 36 -12
19 Wolves 31 9 8 14 35 -4
20 Burton 32 9 7 16 34 -13
21 Bristol City 31 9 5 17 32 -4
22 Wigan 32 7 9 16 30 -9
23 Blackburn 31 7 8 16 29 -13
24 Rotherham 33 4 5 24 17 -43
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