Scottish Football - Hearts calm insolvency fears

Hearts have downplayed the latest fears they could be set to enter administration over an unpaid tax bill.

PA Sport
Scottish Football - Hearts calm insolvency fears

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Hearts expect to make a payment to HMRC 'in the very near future'

Reports on Tuesday suggested the Tynecastle club has just seven days to settle a £100,000 sum owed to Her Majesty's Revenue and Customs for PAYE or face being handed a winding-up order.

But a spokesman for the club said: "We are in dialogue with HMRC and expect to make payment in the very near future."

The tax concerns are the latest in a long line of financial sagas to have hit the club and left supporters fearing the worst.

The Jambos were only able to stave off a separate winding-up order launched by the taxman last December over a £450,000 tax bill thanks to the generosity of their fans.

Gorgie bosses, meanwhile, were also forced to agree a repayment plan for a separate tax bill of more than £1.5million following a dispute over loan deals for players from FBK Kaunas.

The picture is not helped by the increasingly complex issue surrounding the state of the club's owners.

Hearts owe £25million in debt, £10million of which is due to their parent company UBIG - who have claimed insolvency - and £15million to Ukio Bankas, who have been officially declared bankrupt.

The Scottish Premier League, however, ruled last month that they were not satisfied UBIG had suffered an "insolvency event" during the season just gone, saving Hearts from a potential points deduction.

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