Kevin Reed, Accountancy Age, Friday 23 July 2010 at 15:42:00

Half a miilion pounds in unpaid PAYE moves HMRC to issues a winding up orderagainst Sheffield Wednesday


The taxman has issued a winding up order against League One football clubSheffieldWednesday.

More than half a million pounds (550,000) of outstanding PAYE is owed by theclub.

"We have been involved in dialogue with HMRC for a number of weeks. As suchwe have been somewhat surprised and disappointed by their decision to seek awinding up order at this time," said a club statement on its website.

"We understand that HMRC is taking a tougher line in general with footballclubs, but feel their actions are disproportionate and will raise unnecessaryspeculation as to the financial position of the club."

It is working in partnership with the Co-Operative Bank and its advisors to"settle this matter as soon as is practical".

The petition will be heard in the High court on 11 August.