UK time is: 20:14:20
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

Seven subs can be named next season

Football League clubs have voted to introduce new financial regulations relating to tax payments next season.

The changes came after the FL met for their annual general meeting this week to agree upon proposals that had been put into motion.

New tax and financial rules have been put into place, which state that any club which falls behind with its employee related payments to HMRC will be subject to a transfer embargo until such time as the debt is cleared.

FL chairman Lord Mawhinney explained: "It is only right that we do not permit clubs that are unable to meet the costs associated with their existing playing staff to make further new player commitments."

Clubs have also agreed to give The League written permission to monitor, as appropriate, their tax affairs directly with HMRC, who have welcomed this new arrangement.

Lord Mawhinney added: "This new regime will provide us with an early warning system where clubs are facing financial problems. It should also help prevent HMRC debt reaching levels that otherwise could hinder the potential rescue of the club through a CVA.

"More importantly, football generally needs to develop a culture of paying its debts rather than putting them off for another day. This will help our clubs to become more financially sustainable in the longer term."

Clubs also approved a proposal. put forward by Derby County, to increase the number of subs for league matches in the FL to seven (from the current five), of which three may enter the field of play.




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



For the very latest League One odds

Click here to join in the debate on the club forum.

The Journalist

Writer: Rich Mail feedback, articles or suggestions

Date:Sunday June 14 2009

Time: 12:45AM

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Walsall Articles

Smith's High Praise For Grimes (Friday July 25 2014)

Ashley Grimes Signs! (Friday July 25 2014)

Ashley Grimes Set To Sign? (Thursday July 24 2014)

Liam Roberts Returns (Tuesday July 22 2014)

Walsall FC Sierra Leone Thank Jorge (Wednesday July 16 2014)

Jorge Leitao's Amazing Gesture (Tuesday July 15 2014)

Archived Walsall Articles

List All Vital Saddlers Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

League Results (view all)

Latest Results

League Table (view table)

Team P W D L GD Pts
19. Rochdale 0 0 0 0 0 0
20. Scunthorpe 0 0 0 0 0 0
21. Sheff Utd 0 0 0 0 0 0
22. Swindon 0 0 0 0 0 0
23. Walsall 0 0 0 0 0 0
24. Yeovil 0 0 0 0 0 0

Breaking League News

Spotlight Onů Gillingham
╗ Peterborough : 26/07/2014 20:00:00
Alnwick New Number One At Posh
╗ Peterborough : 26/07/2014 19:34:00
Davis sees merit in display
╗ Crewe : 26/07/2014 18:43:00
Striker withdrawn following interest
╗ Crewe : 26/07/2014 18:35:00
Late goal denies Alex
╗ Crewe : 26/07/2014 18:16:00

Current Site Poll (view all polls)

Whose going to win the World Cup?
Suggested By:  
Brazil 8%
Argentina 36%
Spain 8%
Germany 12%
England 20%
Other 16%