Hearts pay off tax bill

Hearts have confirmed they have paid the tax bill which threatened to close them down.

Last Updated: 03/12/12 at 19:37 Post Comment

Hearts: Tax bill paid

Hearts: Tax bill paid

The club were last month hit with a winding-up order over a £450,000 bill but agreed a deal to pay off Her Majesty's Revenue and Customs in two instalments before close of business on Monday.

The demand was settled after supporters rallied round following a plea for "emergency backing".

Hearts have so far raised more than £600,000 from a share issue and were close to selling out Tynecastle for home games against St Mirren and Celtic after warning they might cease to exist by the end of November.

The imminent threat has been put off but but there is still a shortfall in revenue for the season that totals £2million while a separate £1.75million tax bill, which the club are challenging in a tribunal, also hangs over Tynecastle.

That bill centres on a demand for tax for a number players who joined the Clydesdale Bank Premier League club on loan from Kaunas, who were also owned by Hearts majority shareholder Vladimir Romanov.


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