THE winding up petition placed on Taunton Town Football Club has been lifted after the debts owed have been paid.

The football club confirmed as of Wednesday, February 21, the sums that were owed to HMRC have been paid in full resulting in the petition being lifted.

In a statement, the club said: "This news will be a relief to all connected with the Club. 

"However, these positive developments do not mean that the club is free from its financial challenges, and we are grateful for the continued patience and support of all concerned as the Club balances the need for prudent financial management with the obvious objective of retaining our National League status at the end of the season."

As well as clearing up the winding up petition, the club has also been able to clear further arrears to HMRC which related to sums that became overdue after the issuing of the winding-up petition.

This has demonstrated to the National League that these arrears have been cleared, thus allowing the transfer embargo to be lifted as well.

"The club is further pleased to be able to announce that the transfer embargo that was imposed on us by the League has now been lifted.

"These are important initial steps towards re-establishing good relations with HMRC, ensuring that the Club can continue trading and working towards ensuring the financial stability of the Club for the rest of this season and beyond."