Writer: Red Army Comrade
Date:Saturday July 24 2010
HM revenue and customs seem like a very bitter bunch at the moment, with Preston, Portsmouth, Palace, Chester, and other clubs facing the iron grip of the taxman. But now it looks as if Sheffield Wednesday could be joining the long list of rabbits in the headlights of the revenue train.
Rumours first surfaced from the BBC who suggested that Wednesday owed the Tax man a sum of around half a million pounds, with the BBC source suggesting that Wednesday could be forced into administration via a winding up order.
HMRC trying to force more clubs into tough measures to suit their newly found ego.
Wednesday and their partners the Co-operative bank have denied reports of administration and have been 'disappointed` by the decision by HMRC to apply for a winding up order, and reading through the lines of the statements it seems that there was little warning.
They did confirm that the sum of half a million was indeed accurate though, and despite a statement of confidence from both sides it seems that the Revenue are going to be their usual arrogant selves, in the name of us tax payers of course.
I`m an advocator of clubs answering to their debts and seeing clubs who overspend being punished, but Sheffield Wednesday have hardly spent millions over the last few years, and a lack of investment has seen them relegated to the third tier. With that In mind you have to ask why HMRC are towing such a hard line.
Why is this on Vital Southampton some may ask? The reason it is here is because the lower leagues are imploding from the tax man and every other money man bleeding them dry, the Premiership is raiding the finances of the lower leagues and before long, the beautiful game as we know it will be changed forever.
Date:Saturday July 24 2010
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