Gordyola
Well-Known Member
Not widely reported in the mainstream media but our neighbours in Trafford and Newcastle United are being investigated by HMRC Both have included provisions in their accounts Remember this when City are accused of cheatingExactly. Even if we were guilty of the Mancini stuff, I don't see how we've gained an advantage given we were making eye-watering losses at the time and the "arrangement" pre-dated FFP.
I will add that I don't believe we've done anything massively untoward on that one (or any of the others for that matter) and as I said the other week, it looks like the arrangement was not for our benefit but to help Mancini in terms of not having to pay full UK tax. If anything, it looks like one for HMRC to look at but it seems even they're of the opinion that there's nothing to see here, given that this has been in the public domain for 5 years now and there have been no stories since of the taxman turning up and kicking City's door down.
Recent examples of HMRC investigations include both Manchester United and Newcastle United, who stated in their most recent financial accounts** that they are currently subject to investigations by HMRC
Pellegrini was fined for tax avoidance
Tax investigations into UK football clubs recover £125m, more than doubling the previous year’s total of £59m
Read the latest insights from UHY Hacker Young: Tax investigations into UK football clubs recover £125m, more than doubling the previous year’s total of £59m
www.uhy-uk.com