June 7, 2018 / 12:38 PM / a year ago

Aston Villa reach agreement with UK tax authorities

(Reuters) - Aston Villa have reached an agreement with British tax authorities (HM Revenue & Customs) over a tax bill and are currently not working with administration advisors or insolvency practitioners, the Championship club said on Thursday.

The BBC reported that Villa owe 4 million pounds ($5.36 million) and have already paid HMRC 500,000 pounds on Wednesday. They will pay another 1.2 million pounds this week.

"Owner and chairman Dr Tony Xia would like to sincerely thank supporters during this difficult and unsettling time and reassure them plans are now being put in place to move the club forward," the club said in a statement on its website here

Villa suspended chief executive Keith Wyness with immediate effect on Tuesday, with British media reports saying that the missed tax payment was the reason. Xia took over Wyness’ role.

Former English and European champions Villa were beaten 1-0 by Fulham in the Championship playoff final at Wembley Stadium last month to miss out on promotion to the Premier League.

($1 = 0.7459 pounds)

Reporting by Shrivathsa Sridhar in Bengaluru; Editing by Alexandra Hudson

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