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Club News

Club Statement

5 June 2013

Blues issue a statement on HMRC payment

Yesterday, the Club received confirmation from Her Majesty’s Revenue and Customs that the outstanding tax payment which was the subject of the petition had been discharged in full, and that “HMRC Solicitors will be instructed to seek dismissal of the Petition at the hearing set for 24th June 2013 in the High Court”. 

This tax was for one month’s PAYE/NIC and was three days overdue when HMRC served notice.

The past four and three quarter years, since the banking crisis, have been challenging times for many companies and the Club is no exception. Following relegation from the Championship in 2006/07, the club incurred significant losses, which we have been able to improve year on year since then.  That trend is forecast to continue into next season. The Club’s parent company have been supportive throughout, and again advanced the funds to discharge the liability to HMRC.

As the financial position continues to improve, it is hoped that the Club will become less dependant on its parent as it moves into the new stadium.  

Nigel Brunning
Finance Director

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