Aston Villa have been plunged into turmoil after being hit with a £4.2m tax bill by HMRC, while the Championship club have also suspended chief executive Keith Wyness.

Villa are under pressure to make the payment within seven days or face a winding-up order, while the prospect of administration cannot be completely discounted as the club count the cost of missing out on promotion.

It is understood Villa were late making the regular tax payment last Friday and though club sources insist the issue will be resolved this week, the West Midlanders are now gripped in a financial crisis.

Dr Tony Xia, the owner and chairman, is alleged to be struggling with cash-flow issues in China, which restricts the distribution of money leaving the country. There is no suggestion that Xia is struggling financially.

Xia told Villa insiders on Monday that the club is not for sale, yet Steve Bruce’s failure to beat Fulham in the Championship play-off final was always likely to have severe ramifications.

Xia held crisis talks with Wyness on Tuesday morning and opted to suspend the former Everton chief executive with immediate effect.