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Scottish football club Hearts face winding-up order

Published on Nov 8, 2012 6:24 AM

EDINBURGH (AFP) - Scottish Premier League side Hearts run the risk of going out of business after confirming Wednesday they had been served with a winding-up order regarding a tax bill of nearly 450,000 pounds (S$879,385).

Her Majesty's Revenue and Customs (HMRC) submitted the petition in the Court of Session in Edinburgh. In response, Scottish Cup holders Hearts said in a statement they were attempting to negotiate a payment plan with the tax authority.

This matter is unrelated to a £1.75million HMRC bill which the Edinburgh club are challenging at a tax tribunal. Hearts said they were "endeavouring to agree a suitable payment plan with HMRC for the outstanding amount of £449,692.04".

A club spokesperson added: "We have guaranteed future revenues from forthcoming games and related broadcast income as well as additional guaranteed transfer income which will more than cover the outstanding amount stated in this petition. We would therefore be hopeful that HMRC will accept that winding up the club would be totally unnecessary.

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