West Ham United facing additional seven-figure financial hit as announcement made
West Ham could be hit with a £1.5million–£3million increase to their tax bill in the wake of Rachel Reeves’ Labour budget, according to Sean Whetstone.
Whetstone posted on X (30 October) ahead of Labour’s first budget in government for 14 years, highlighting that the Hammers could be hit hard by planned tax and national insurance increases.
If employers’ national insurance is raised from its current 13.8 per cent rate in the budget, the Irons would then have to pay between £1.5m and £3m in additional tax per annum.
While these rises and the club’s subsequent new tax rate would be dependent on what the percentage is increased to, Whetstone pointed out that the club’s current financial budget is already “fully allocated”.
West Ham could face financial setback amid budget announcement
Few clubs in England have spent money quite like the Hammers in recent months, with a massive £130m transfer outlay giving Lopetegui nine brand-new signings ahead of his first season in charge.
However, not all of these were on permanent deals, with the club highlighting profit and sustainability concerns which saw their incomings slow down towards the back end of the window.
Jean-Clair Todibo’s arrival from Nice on an initial loan deal was completed along these lines, with the Irons set to confirm a permanent transfer for the defender in 2025 [Whetstone, 11 August] – in the next PSR period.
Although £3m seems to be a drop in the ocean for most established Premier League sides, it’s clear that the Hammers threw plenty of their financial weight behind the transformational summer window.
Recalibrating budgets at short notice with transfer amortisation and wages to worry about won’t be ideal, but it gives Julen Lopetegui even more of an incentive to get his new-look side marching up the table.
In other West Ham news, Julen Lopetegui is set to make a huge decision regarding one of his key players against Nottingham Forest.
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