Next Game

Dumbarton v Hearts

Saturday, 13 September 2014, 15:00

Scots Champ

Last Game

Hearts 4 - 1 Falkirk

Saturday, 30 August 2014, 15:00

Scots Champ

Hearts handed major tax bill

Hearts' financial plight could be worsened next month as they are facing a tax demand of £1.75million which could have serious consequences for the Scottish Premier League side.

Last Updated: 27/10/12 at 12:16 Post Comment

Hearts: Facing huge tax bill

Hearts: Facing huge tax bill

More of the games that matter

2 years free Sky Broadband Unlimited for Sky Sports customers

The Edinburgh club have vowed to 'robustly defend' their stance against Her Majesty's Revenue and Customs next month when a tax tribunal reviews the case which was revealed in their share issue brochure.

The dispute relates to a loan agreement for a number of players between Hearts and Lithuanian club Kaunas, who were then run by Vladimir Romanov, the Hearts majority shareholder since 2005.

But Hearts insist the situation was no different to any other loan, where parent clubs often meet wage demands.

The Hearts share issue brochure states: "Heart of Midlothian plc are subject to a significant ongoing dispute with HM Revenue and Customs which, if it ultimately goes against the company, could have a dramatically negative effect on the company.

"Specifically, HMRC has claimed unpaid tax liabilities of circa £1.75 million in relation to the arrangements between the company and Kaunas FC in relation to certain players who were loaned to the company by Kaunas FC.

"The directors are attempting to robustly defend those claims but the burden of proof is on the company and the tax will be payable unless the company is successful in challenging the claims."

This is the latest financial issue for the club to contend with as the SPL placed Hearts under a fresh transfer embargo last week after players and staff were not paid on time for a second successive month.

More of the games that matter

2 years free Sky Broadband Unlimited for Sky Sports customers

Related News

Most Commented

Readers' Comments

E

ven if United were to sign CR7 & Messi to play upfront, the fact remains Fletcher and Cleverly are playing in midfield. That's where the problem is. Fletcher is too slow with an awful pass, while Cleverly is simply rubbish

mrunited4life
Di Maria - A Signing of Necessity, or Opportunity?

T

hese days, these days, you can't say something racist without somebody saying that you're a racist.

tk421
'Wrong' Views Not Silenced By Shouting...

D

rop Rooney (he's so disappointing, overrated and overpaid), and play Di Maria and RVP upfront, much like the set up at the Netherlands team with Roben and RVP...

eric bush3
Di Maria - A Signing of Necessity, or Opportunity?

Footer 365

Transfer news: Cardiff sign defender Bruno Ecuele Manga from French club Lorient

Cardiff City have signed Gabon international defender Bruno Ecuele Manga from French club Lorient on a three-year deal.

Transfer news: QPR chase deals for Sandro, Niko Kranjcar and Jermain Defoe but Fabio Borini deal hits hitch

QPR's move for Sandro is progressing as planned but a deal for Fabio Borini appears to have broken down.

Transfer news: Swansea striker Wilfried Bony set to stay amid Monaco interest

Swansea striker Wilfried Bony is set to stay at the club despite late interest from Monaco.

Mail Box

It's That Time Again: 'Wenger Out'

Are Arsenal fans the ficklest in the Premier League? That's one question in the mailbox as Gooners call for Wenger to leave (again). Plus, plenty of reaction to Falcao...

Wenger: The Most Stubborn Manager Going

Arsenal fans would quite like their club to sign a striker thank you very much, whilst someone is excited about Jim White et al. Plus, Klose to Arsenal please...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property