If Portsmouth thought all their troubles had ended with relegation from the Premier League and the approval of a Company Voluntary Agreement (CVA), then they will have been sorely disappointed with this week’s development.

HM Revenue and Customs (HMRC), so long a thorn in the side of the struggling club, have lodged an appeal which, at the very least, will delay the club’s exit from administration and probably affect their football betting odds.

Under the terms of the CVA, Portsmouth would have repaid its unsecured creditors 20p in the pound, meaning HMRC would have lost out on a sizeable amount of tax.

However, the organisation has once again decided to take Pompey to court, claiming that the amount of money it’s owed gives it the power to block the agreement.

Obviously this could have disastrous long-term consequences for the club, but even if the appeal is unsuccessful it will still be huge blow to Portsmouth’s chances of success in the season ahead. Online football betting pundits certainly won’t be promoting their chances of success.

The club will remain in administration until the case is heard and that could be as far away as November. This means the transfer embargo which has been placed on the club will remain in place, ending any chances the side making permanent signings until 2011.

To be fair to HMRC, they are treating Portsmouth in the same way they would any business, and the organisation seems to feel that football clubs have been getting away with too much for too long.
Portsmouth’s fans must feel they are being unfairly victimised for the failings of others, and it seems likely this latest move will, at best, scupper the club’s hopes of promotion.

However, if HMRC does succeed in making an example of the side and forces them out of business, it won’t be the taxman who is to blame for Portsmouth’s demise.