Monday, 9 August 2010

HMRC's Own Goal

Portsmouth win vital court case against HMRC - Portsmouth have won a court case with the tax authorities which could have forced the club into liquidation.

HM Revenue and Customs challenged the legality of Portsmouth's Company Voluntary Agreement, the means by which the Championship club will attempt to settle their debts.

"I propose to find in favour of the company administrators and dismiss the application of HMRC," said Mr Justice Mann.

HMRC argued it was owed £13million more than the £24million value put on its claim. The administrators disputed the accuracy of the taxman's figures and assessments, and today the judge ruled in their favour.

HMRC committed a foul in their own penalty box and kicked the ball into their own goal. At least play the game properly.

article in the Telegraph here

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