UK time is: 13:09:31
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 To Consider Permanent Cain Move (Thursday March 26 2015)

Hiwula Loan Deal Set To Be Extended (Thursday March 26 2015)

Quiet Deadline Day - Smith (Thursday March 26 2015)

Chesterfield v Walsall - Preview (Thursday March 26 2015)

O'Kelly Reflects On Reserves Win (Wednesday March 25 2015)

Walsall Res 3-0 Wigan Res - Report (Wednesday March 25 2015)

Mantom 'We Can Focus Fully On League' (Wednesday March 25 2015)

Archived Walsall Articles

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

Vital Members League (view all)

League Results (view all)

Latest Results
Walsall 1 - 1 Sheff Utd
Walsall 1 - 1 MK Dons
Barnsley 3 - 0 Walsall
Yeovil 0 - 1 Walsall
Walsall 0 - 2 Leyton Orient
Preston 1 - 0 Walsall

League Table (view table)

Team P W D L GD Pts
13. Bradford 36 13 12 11 4 51
14. Gillingham 38 12 12 14 -4 48
15. Port Vale 38 14 6 18 -6 48
16. Walsall 37 11 13 13 -5 46
17. Scunthorpe 37 12 9 16 -11 45
18. Crawley 38 11 10 17 -21 43
19. Coventry 38 10 12 16 -12 42

Breaking League News

Vital Posh MOTM Results -V- Chesterfield
Peterborough : 27/03/2015 13:00:01
Robbo Speaks - Pre-Coventry City
Peterborough : 27/03/2015 12:00:01
VIDEO: Michael Smith Looks At Remainder Of Season
Peterborough : 27/03/2015 11:00:01
Dons Sign Rob Hall
MK Dons : 27/03/2015 09:52:01
VIDEO: Aaron McLean Speaks After St Neots Friendly
Peterborough : 27/03/2015 09:49:00

Current Site Poll (view all polls)

Smith - In or Out?
Suggested By:  
In 67%
Out 33%