UK tax body opened probe into Man City in 2018
The revenue and customs authority launched the probe into the Abu Dhabi-backed club after leaked emails were published by Germany’s weekly news magazine Der Spiegel in late 2018.
In 2018, the UK tax authorities initiated an investigation into Manchester City to ascertain whether the club, recently found guilty of breaching Premier League financial rules, used intricate methods to minimize tax, according to the Financial Times. This probe was prompted by the disclosure of club emails in the German weekly Der Spiegel in late 2018, as per sources familiar with the matter.
The inquiry, which does not involve accusations of intentional fraud, has not been formally concluded, and the tax office has not taken any action against the club. Upon inquiry, the UK tax body declined to provide a statement, citing taxpayer confidentiality. Sheikh Mansour bin Zayed al-Nahyan, the UAE's vice-president and deputy prime minister, acquired Manchester City in 2008, which propelled the club to eight English Premier League titles and a Champions League victory.
The scandal may tarnish Abu Dhabi's prominent display of "soft power" and challenge the UK's long-standing connections with the UAE. Prime Minister Andy Burnham, a former mayor of Manchester, expressed his concern over losing the club due to Sheikh Mansour's substantial investments. The club's owners have appealed the ruling, yet no penalties have been determined.
Nevertheless, analysts predict potential point deductions, hefty fines, and even expulsion from England's premier league for the club.
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- UK tax body opened probe into Man City in 2018 freemalaysiatoday.com
