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Wednesday
Oct202010

Excellent Tax News for Arsenal

 

There have been many reports in the news over recent months that have focused on various different football clubs and their tax situations. Most of them have been on the dramatic side; the word ‘bankruptcy’ has featured every now and then as well.

So I was pleasantly surprised to hear that Arsenal had been the recipient of good news recently. The year from 2008/9 had seen Arsenal on the receiving end of a charge to pay of more than ten million pounds.  However this has now been replaced by a huge swing in the opposite direction. According to recent reports they are now owed more than five million pounds by the tax man.

Needless to say the group was delighted by the news, and no doubt their supporters will be as well. It is certainly nice to read about some good news coming from the financial affairs of a football club for a change.

Various complex issues had been looked into by both sides to arrive at this final figure, Corporation Tax, the sales of various players and capital gains issues as well. No doubt a lot of work has gone into the situation on both sides, and Arsenal will now be eager to look ahead to the future now their tax affairs have been fully resolved.

Of course many people may have issues of some kind with HMRC at some point. But whether they are large or small the people here at St Matthew can assist. Don’t hesitate to contact us by using the link above if you wish to speak confidentially with a tax expert. We shall attend to your needs as quickly as we possibly can.

 

 

 



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