Football creditor rule still under attack
HMRC has been on the losing side twice in quick succession to the football industry, following the High Court’s recent decision not to overturn the football creditor rule, reports Alex Miller.
The blow for the taxman follows the decision to clear Tottenham manager Harry Redknapp of tax evasion charges in February.
Legal action against the Premier League and the creditor rule was initiated in May 2010. The rule means that certain football industry creditors receive preferential treatment when a club becomes insolvent and may be paid in full.