The 67 Blue Square league clubs owe £1.2m less to Revenue and Customs than this time last year. The Conference understandably credits its Financial Reporting Initiative under which clubs have to make quarterly financial returns for this achievement.
The 67 Blue Square league clubs owe £1.2m less to Revenue and Customs than this time last year. The Conference understandably credits its Financial Reporting Initiative under which clubs have to make quarterly financial returns for this achievement.
However, pressure from the tax authorities is also part of the picture. They have been clamping down much more quickly on clubs that treat their tax bill as an interest free loan and are taking them to court much more quickly. One consequence is that the Conference now has 67 clubs instead of 68 as Ilkeston Town folded wiith a tax debt.
Clubs still owe £400,000 but this compares with £1.6m this time last year. 47 clubs are up-to-date with PAYE, National Insurance and VAT compared to just 39 last year, while a further 12 have an agreement in place to cover outstanding arrears.
The latest club in troube is Redditch who need a $30,000 cash injection to secure their immediate future.