LUFC- New tax regulations for clubs
The Football League clubs have agreed to new measures relating to tax payments.
At the Annual General Meeting clubs have agreed to set up a transfer embargo on clubs who fall behind with employee related payments to the HMRC.
Speaking on the Football League website Football League chairman Lord Mawhinney said "It`s only right that we do not permit clubs that are unable to meet costs associated with their existing player staff to make further new player commitments".
With a number of clubs falling into administration over the past few years this will give the Football League notice that clubs could be struggling financially.
Clubs have also given the Football League permission to monitor their tax affairs.
Hopefully the new measures will stop clubs spending money they don`t have and avoiding more clubs getting into serious financial difficulty in the future.
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