Manchester City has suffered a new blow as the British Tax Policy Association revealed that the club owes £12 million in unpaid taxes.
The Premier League announced that Manchester City is guilty of all charges related to serious breaches of the league's financial rules over nine seasons, and most charges related to its failure to cooperate with the league's investigation between 2009 and 2018. (Read the details)
The Athletic quoted a statement from the British Tax Policy Association: "We believe the evidence points to £12 million in unpaid taxes in the UK."
It added, "The consequences include a much larger tax bill and a criminal investigation. The committee's conclusion that Manchester City knowingly submitted false accounts suggests potential violations of company law."
It continued, "Manchester City should therefore have applied UK income tax and national insurance in the usual manner, but the evidence indicates that the club did not do so illegally. We expect that approximately £12 million in taxes remains unpaid."
It concluded, "The club may face fines that would raise its total financial liabilities to £24 million."
Over nine years, a Premier League report revealed that the club entered into sham contracts with several of its commercial partners, provided misleading accounts, concealed its financial position, and breached spending limits set by the Premier League and UEFA.
Following the finding of guilt, the club has the right to appeal the independent commission's results, with a deadline of Friday, October 2, to exercise this right. The Premier League Board intends to complete the entire process as quickly as possible.
For its part, Manchester City issued a statement responding to the charges brought against it by the Premier League.
Among the 115 charges brought against Manchester City, 35 were related to non-cooperation with Premier League investigations.
The Football Association issued a statement regarding the decision to convict Manchester City, announcing that it would continue to "monitor developments." (Read the details)
