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HMRC Stays Silent on Man City Finances Probe
14 Oct
Summary
- HMRC declined to confirm an investigation into Manchester City's finances.
- Parliamentary committee sought action regarding City's rule breaches.
- HMRC stated they act on information indicating potential tax risks.
As parliamentary scrutiny of Manchester City's finances intensifies, the UK's tax authority, HMRC, has declined to confirm any ongoing investigations into the Premier League club. The chair of the Treasury Committee had inquired about HMRC's actions in response to an independent commission's findings that City committed numerous rule breaches.
HMRC stated that taxpayer confidentiality prevents comment on potential investigations. However, the Permanent Secretary assured the committee that HMRC constructively engages with football bodies and takes action when informed of potential tax risks. The club has denied wrongdoing and appealed the commission's verdict regarding alleged inflated revenues and understated costs.
