\u201csham\u201d commercial contracts<\/a> as part of schemes to inflate revenue and \u2060understate costs by more than \u00a3900 million ($1.2bn) over nearly a decade.<\/p>\nCommittee chair Meg Hillier said \u2060\u2060she had written to His Majesty\u2019s Revenue and Customs (HMRC) Permanent Secretary JP Marks after the publication on Tuesday of the independent commission ruling that the club had committed \u201cwell over 100 individual \u2060\u2060breaches of the Premier League Rules across the course of many seasons\u201d.<\/p>\n
In her letter, Hillier sought assurances that HMRC was \u201cseized of the importance\u201d of the findings and questioned the tax authority about its response.<\/p>\n
She asked whether HMRC was aware of the commission\u2019s \u200c\u200cfindings, whether it had requested or been provided with an unredacted copy of the report and what assessments it had made of any potential tax implications arising from the case.<\/p>\n
HMRC can unpick a company\u2019s tax returns and reject contrived transactions that reduce the company\u2019s taxable income. HMRC can also apply financial penalties for underpaid taxes as a result of false \u2060\u2060statements.<\/p>\n
However, City\u2019s actions would have \u2060\u2060artificially inflated the company\u2019s profitability, which would have increased their taxes.<\/p>\n
\u201cI would also welcome an overview of current HMRC work around \u2060\u2060football clubs,\u201d she concluded. \u201cI would be interested in \u2060\u2060any common issues around taxation (including the taxation of remuneration) that you have found in their practices, and how HMRC is tackling them.\u201d<\/p>\n
Manchester City did not immediately respond to a request for comment.<\/p>\n
Hillier\u2019s intervention broadens \u200c\u200cthe fallout from the case, which has already prompted debate over possible sanctions, the appeals process and potential compensation claims by rival clubs and players.<\/p>\n
Manchester City have \u200c\u200cdenied \u200c\u200cwrongdoing and are expected to lodge an appeal against the commission\u2019s findings before Friday\u2019s deadline.<\/p>\n","protected":false},"excerpt":{"rendered":"His Majesty\u2019s Revenues and Customs (HMRC) has been contacted in United Kingdom over Man City financial breaches. Published…\n","protected":false},"author":2,"featured_media":789009,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[591,218,59,57,58,50,217,56,54,55],"class_list":["post-789008","post","type-post","status-publish","format-standard","has-post-thumbnail","category-united-kingdom","tag-europe","tag-football","tag-gb","tag-great-britain","tag-greatbritain","tag-news","tag-sport","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/789008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=789008"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/789008\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/789009"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=789008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=789008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=789008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}