This is why...

In the summer of 2014 Prestatyn Town Football Club were making huge losses and on the verge of bankruptcy. A new Board took over and were faced with the choice of closing the Club down or embarking on plans to turn the Club’s finances around. A three-year plan to stabilise the Football Club was initiated, which would involve paying off all creditors, reducing the playing budget and implementing general cost savings at the Club.

Two and a half years into the plan the Football club have turned a £120,000 loss making company into one which will break even by the end of this season. However, during this time PTFC have been fighting the HMRC against a claim made that during the 2012 to 2014 seasons our players expenses where not registered in the correct manner and that tax was owed on them. The Club have challenged this claim since day one, believing that the correct amount of tax was paid during that period and that the figure owing was calculated incorrectly. This was confirmed by the Club’s accountants. However, toClub’s astonishment, the HMRC will not accept the figures. Three years down the line the HMRC have decided to close the case and have put a final figure of £53,132.93 into a winding up petition against the Club. Not only have they charged PTFC an amount that we still strongly believe to be incorrect, they have also enforced the maximum interest and penalties on the Club.

We have contacted the HMRC to see if an agreement could be reached but they have refused and closed the door on any negotiations, leaving us with no alternative than to find the full £53,132.93 by 24 November 2016.

The Club would like to stress that we will be doing everything possible to make sure that we raise this sum (some of which has already been pledged). We would welcome financial assistance from any individuals or companies to raise this money so that we can pay off the HMRC, continue our good run of form and gain promotion to the Premier league.