Hearts to meet tax deadline

Published on Monday 3 December 2012 00:53

HEARTS will pay their outstanding tax bill according to plan today, club sources said last night, writes Stuart Bathgate. The Tynecastle club have to pay Her Majesty’s Revenue & Customs almost £450,000 in order to fulfil the terms of an agreement struck to fend off a winding-up order.

HMRC had been granted the winding-up order last month, and at first appeared set to insist on payment in full within eight days. But Hearts were then able to persuade the tax authority that they would be able to pay in full provided they were allowed a little more time. When that agreement was announced it was suggested that payment would be in two instalments, but payment of a first instalment has not been confirmed.

Yesterday’s Scottish Cup tie with Hibernian generated some income, while more funds are thought to have come in from Rangers for the transfer of David Templeton. Hearts supporters have also raised more than £700,000 through a share offer by the club which was launched shortly before the winding-up order became public knowledge.

Hearts, whose players agreed to defer last month’s salaries, still need to find a substantial sum if they are to meet their running costs until the end of the season. They also face another potential tax bill of £1.75m, although that sum is currently a matter of dispute.

Taken from the Scotsman