Tax

NEWCASTLE United have called in lawyers to fight a multi-million pound bill for alleged tax evasion.Directors are appealing against the HMRC demand, thought to be about £5million.
Newcastle United have called in lawyers to fight a multi-million pound bill for alleged tax evasion – pictured Mike AshleyCredit: PA
It stems from a probe in 2017 during retail tycoon Mike ­Ashley’s reign when investigators visited club premises.
HMRC accused the club of extensive tax evasion on player transfers.
Deals between 2011 and 2013 involving Senegal aces Demba Ba and Papiss Cisse and France star Moussa Sissoko came under the scope of Operation Loom.
That criminal investigation was later dropped but the club are still facing a civil probe.
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It centres on arrangements between the club, agents and players which allegedly led to the evasion of tax.
A civil probe can land a company with huge fines.
But the club’s latest accounts, published this week, reveal they are appealing against the figure demanded by HMRC and have placed the matter with lawyers.
The accounts state: “Newcastle United received claims from HMRC relating to alleged underpayment of tax and national insurance, and interest.
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“The amount claimed by HMRC has been assessed by the directors.
“Appeals have been lodged against these assessments and the matter remains in the hands of the group’s legal advisers.”
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.nk-headline-heading{color:rgba(71,30,121,1);}.css-1uyse24:before{content:”;top:0;right:0;bottom:0;left:0;overflow:hidden;position:absolute;z-index:1;}.css-n392go{border-width:0 1px 1px 1px;border-style:solid;border-color:rgba(155,201,183,1);padding:12px;max-height:104px;min-height:98px;}.css-1p5s3t0{padding:0;border-width:0 1px 1px 1px;border-style:solid;border-color:rgba(155,201,183,1);padding:12px;max-height:104px;min-height:98px;}.css-124tga5{overflow:hidden;-webkit-line-clamp:3;-webkit-box-orient:vertical;display:-webkit-box;word-wrap:break-word;line-height:1;}.css-5jzxpx{overflow:hidden;-webkit-line-clamp:3;-webkit-box-orient:vertical;display:-webkit-box;word-wrap:break-word;line-height:1;}.css-i1acvs{margin:0;padding:0;color:rgba(34,99,73,1);text-transform:uppercase;-webkit-text-decoration:none;text-decoration:none;font-family:The Sun;font-size:18px;line-height:1.333;font-weight:700;letter-spacing:0%;font-stretch:normal;display:inline;}.css-i1acvs:hover:not(:disabled){-webkit-text-decoration:none;text-decoration:none;}OH TOT .css-8h3gc3{margin:0;padding:0;color:rgba(34,37,38,1);-webkit-text-decoration:none;text-decoration:none;font-family:The Sun;font-size:18px;line-height:1.333;font-weight:700;letter-spacing:0%;font-stretch:normal;display:inline;}.css-8h3gc3:hover:not(:disabled){-webkit-text-decoration:none;text-decoration:none;}I was a lobster-eating millionaire at 6, now I’m 15 you’ll be stunned by my wealth
Saudi Arabia’s Public Investment Fund sealed a £300million takeover of the club last year.
United declined to comment.
Saudi Arabia’s Public Investment Fund sealed a £300million takeover of the club last yearCredit: AFP or licensors More