​​Aston Villa have released an official statement that the club have reached an agreement with HM Revenue and Customs and that steps are in place to help fulfil their tax obligations. 

Villa faced the possibility of a winding-up order following an unpaid tax bill amounting to £4m, however​ earlier reports claimed that they have since paid HMRC £500,000 and will fork out a further £1.2m before the end of the week.

The payment plan has staved off concerns over the club plunging themselves into the claws of administration, and Villa reassured fans as the ​Championship side also confirmed that the club are not working with any insolvency practitioners or administrations advisors. 

The statement on the ​club's website said: "Owner and Chairman Dr Tony Xia would like to take this opportunity 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."

With the club still needing to find £40m to comply with Financial Fair Play rules after failing to secure promotion back to the ​Premier League, the club is expected to reign in their spending this summer - but regardless of their predicament they are said to be refusing to cut ties with star midfielder and £30m-rated Jack Grealish. 

Although owner Dr Tony Xia has been reported to be considering selling Aston Villa, he took to social media moments before the official statement to reassure fans that he intends on moving the club forward. 

He wrote on ​Twitter: "It has been very difficult 2 weeks as I hinted earlier I was almost heartbroken by something. Tried my best to keep beloved AV move forward. 

"Thanks for all ppl standing together going through the difficult time. It was all supporters' encouraging words to keep me/us stronger."