RUGBY UNION - Wasps in dialogue with HMRC over unpaid tax bill - The Coventry Observer

RUGBY UNION - Wasps in dialogue with HMRC over unpaid tax bill

Coventry Editorial 23rd Aug, 2022   0

WASPS have confirmed they are in dialogue with Her Majesty’s Revenue and Customs (HMRC) over an unpaid tax bill.

The club have responded to a report in the Telegraph which suggested the club were being ‘chased’ by HMRC and acted swiftly to release a statement and respond to the claim.

A Wasps statement read: “We have a strong relationship with HMRC.

“In common with many businesses, we agreed a time-to-pay arrangement with HMRC coming out of Covid-19 lockdown.

“We will continue to engage in proactive discussions with them.

“Many companies and business sectors are in exactly the same situation after the most economically challenging two and a half years in living memory.

“Individual businesses in leisure, sport, entertainment, conferencing and hospitality have been hit particularly hard and we are involved in all five of those sectors.

“We have a robust business model with a busier than ever order book for concerts, conferences, exhibitions and other events which will see us prosper into the future.”

Wasps are currently in the process of trying to refinance the £35m owed to bondholders that was due to be repaid back in May.

Bondholders each invested at least £2,000 to help raise the capital in April 2015.

The club have also been involved in a pitch row with CBS Arena tenants Coventry City after the Championship club had to postpone their first three home matches of the 2022/23 season.

However, the club’s have since come to a resolution with work on the pitch now underway after Arena owners Wasps and Coventry released a joint statement last week.

The pitch was deemed ‘unsafe and unplayable’ after it hosted 65 rugby sevens matches at the Birmingham 2022 Commonwealth Games.

Support community journalism by making a contribution.

The Coventry Observer's team of journalists provide a trusted source news, sport, entertainment and events going on in your area and issues which matter to you - both via our free weekly print edition and daily updates on our website.

Every contribution, however big or small, you can make will help us continue to do that now and in the future.

Thanks for reading this and the Coventry Observer.

Are you on Facebook?

Like or follow our Facebook page - to get daily news updates straight to your news feed.


Receive a weekly update to your inbox by signing up to our weekly newsletter.


Advertise with the Coventry Observer to reach your audience


Find a career you'll love with our free career finder website.

Reader Travel

Check out all of the latest reader travel offers to get your hands on some free gifts.