Hearts dodge HMRC winding-up order

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Hearts FC has escaped the threat of immediate closure by paying the final instalment of a tax bill that prompted HMRC to seek a winding-up petition last month.

This week, the club confirmed that the balance was met before the deadline after the Revenue had agreed to let the Scottish club pay the amount over two payments. 

So far, a share issue has generated £700,000 from a target of £1.75m as the club attempts to raise funds.

Hearts also faced another potential tax bill of £1.75m, but their appeal is due to be heard by the First Tier Tribunal.

The threat of closure has been lifted through a combination of players and staff deferring last month's wages and Rangers paying an instalment of the transfer fee due for David Templeton.

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About Nick Huber

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I’m a specialist business journalist and have a particular interest in tax and technology. 


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