Blue Square Bet North bottom-markers Hinckley United have just received confirmation this morning from the Football…
….Conference that the long-standing transfer embargo has now been lifted.
This long-standing saga has took several twists and turns after being initiated by a group of disgruntled players from the 2011/12 relegation-reprieved squad for outstanding appearance money and bonuses.
This was further complicated after the repayment plan to clear the 2011/12 PAYE and VAT arrears was rejected by HM Revenue & Customs.
This quickly turned into a double whammy when this initial rejection was followed by a final demand for an additional VAT Adjustment from 2008/09 which was initially set aside whilst disputed.
The Football Conference rules imply that member clubs must be up to date with HMRC and/or have a formal repayment plan in place and as no formal agreement was in place this debt was simply added as another condition to settle before the embargo was lifted.
With these aged creditor debts clearly creating cash flow problems, current players had little sympathy and chose to use the Football Conference as the mechanism to jump up the priority ladder to be paid first as overtures that the club was going under were getting louder and louder.
During this horrendous period which has cost over £90,000 to resolve, the board of directors have maintained their focus and objective of securing the long-term future of Hinckley United Football Club Limited and are delighted to confirm this positive news to the shareholders and loyal supporters and hope that everyone will now really round and make their presence felt by supporting the club through to the end of the season.