Football

Preston settle tax bill

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Leisure tycoon Trevor Hemmings has once again come to Preston's aid by paying the club's latest tax bill.

Hemmings, who holds an 88.5% stake in North End, has loaned the club £200,000 through his Guild Ventures investment group.

The money will be used to cover Preston's PAYE tax deductions and National Insurance contributions. Hemmings' loans to the club are now just shy of £15million."The total amount to date that has been advanced to the company by Guild Ventures now totals £14.56m, including accrued interest," read a club statement.

On June 23 Preston revealed that they were in discussions with HMRC regarding an outstanding tax bill of £435,000 for May and it is thought that Hemmings' latest intervention is targeted towards this debt.

Under stock market rules, Hemmings needs a 90% stake in North End to force the sale of all other shareholdings in the company. His 5p-per-share takeover of the npower Championship outfit has been made through his Deepdale PNE Holdings investment vehicle.

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Topics:
Football
Championship
Preston North End

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