Preston settle tax bill

Published Add your comment

Football News

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.

Copyright (c) PA Sport 2009, All Rights Reserved.

Preston North End

Read more

Report author of article

Please let us know if you believe this article is in violation of our editorial policy, please only report articles for one of the following reasons.

Report author


This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. and SportsNewMedia do not take any responsibility for the content of its contributors.

Want more content like this?

Like our GiveMeSport Facebook Page and you will get this directly to you.

Already Subscribed to Facebook, don't ask me again

Follow GiveMeSport on Twitter and you will get this directly to you.

Already Following, don't ask me again