A report in the Sunday Times this morning has highlighted Hartlepool United as one of 22 British clubs whose owners are based in ‘tax havens’ to avoid paying tax in Britain.
The report says that HUFC are legally based in the British Virgin Islands with 15 Premier League sides, 5 Championship clubs and two SPL sides also controlled by holding companies based abroad. This allows them to use untaxed income to fund their clubs.
This process is completely legal but HMRC are said to be looking at the situation. Analyst Mike Warburton explained it would be disastrous for Britain if these tax havens were banned.
”The growing number of clubs owned through tax havens partially reflects just how attractive British football clubs have become to the world`s wealthy as an investment opportunity.”
”British football clubs are important for our economy and it would be unwise for the government to do anything to jeopardise that.”
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well spotted report chrissy-good business sense from IOR,just hope the government dont put a stop to it…..or we would be up the creek
Well it works well for us, so I am not going to complain! So Chrissy reads the Times then?
I came by these stories completely by accident tbh! Never picked up the paper in my life!:)
Chrissy in quality newspaper perusal scandal, shock horror denial!
Thats what they all say Chrissy. Thats what I told the msissus when I was talking about an article from a dirty mag! Told her I just happened to glace at a one that a mate was reading at work!