HMRC?

Leysboy

Well-known member
Joined
6 Dec 2017
Messages
1,029
I’m sure Mr Thohir has deep enough pockets to sort this one out.

Nothing to see here!
 

Navegante

Active member
Joined
14 Feb 2018
Messages
506
Dam these pesky admin oversights!

If we're not paying the taxman or the landlord, where exactly is the cash?
 

Essexyellows

Well-known member
Joined
7 Dec 2017
Messages
1,100
Can`t see what all the fuss is over, compare our HMRC performance with plenty of other lower league clubs, Southend in particular who have a habit of leaving it till the last hour with little or no retribution from the football authorities.
As for paying the landlord he would be lower on the list than the HMRC........... :)
 

MJB

Well-known member
Joined
6 Dec 2017
Messages
1,871
Can`t see what all the fuss is over, compare our HMRC performance with plenty of other lower league clubs, Southend in particular who have a habit of leaving it till the last hour with little or no retribution from the football authorities.
As for paying the landlord he would be lower on the list than the HMRC........... :)
Please don’t tell us you’re actually the Finance Director using an alias!
 

Essexyellows

Well-known member
Joined
7 Dec 2017
Messages
1,100
Please don’t tell us you’re actually the Finance Director using an alias!
Absolutely not. :)
However it is far from unusual for a football club to do such things, its all about perspective.
I can imagine Tiger telling the the FD "Its a bit of a mess, sort it out and let me know who,what when".
Then you have the pending new chap who probably needs lots of things signed off......... HMRC just slipped on the to do list, and HMRC don`t bother with CCJ`s or the like its straight to WU Orders, that prevents the company continuing to trade and increasing the debt to HMRC.

There will be some negotiation and movement in the background and all will be well.........at a cost.
 

McVicar

Junior Member
Joined
6 Dec 2017
Messages
108
Pardon my possible ignorance here but I always thought a WU order was a last resort, ie they have tried numerous times to get the money, so why has it not been paid (again), it can't just be an admin oversight (again), can it?
 

Oxymoron

Active member
Joined
7 Dec 2017
Messages
204
A WU order is indeed a final act, but the action we are talking about is the filing of a notice to petition the court for a winding up order to be granted. In a weeks’ time, the petition will be “published”, which means that other companies and institutions can join in the melee or take other actions as they see fit to ensure their own interests are protected - it would be some time after that before a hearing to grant a WO Order would take place and there are many ways a business can avoid this even if they are skint – CVA anybody?



In the vast majority of cases, the debt is settled before the notice is published and unless someone is looking for the notice, it never becomes public knowledge. HMRC are the most prolific users of notice, as they use it as a debt collection tool, rather than with any intent to close a business down.
 

McVicar

Junior Member
Joined
6 Dec 2017
Messages
108
A WU order is indeed a final act, but the action we are talking about is the filing of a notice to petition the court for a winding up order to be granted. In a weeks’ time, the petition will be “published”, which means that other companies and institutions can join in the melee or take other actions as they see fit to ensure their own interests are protected - it would be some time after that before a hearing to grant a WO Order would take place and there are many ways a business can avoid this even if they are skint – CVA anybody?



In the vast majority of cases, the debt is settled before the notice is published and unless someone is looking for the notice, it never becomes public knowledge. HMRC are the most prolific users of notice, as they use it as a debt collection tool, rather than with any intent to close a business down.
Ah ok thanks for the clarification and info.
 

radicalox

Active member
Joined
17 Dec 2017
Messages
398
A WU order is indeed a final act, but the action we are talking about is the filing of a notice to petition the court for a winding up order to be granted. In a weeks’ time, the petition will be “published”, which means that other companies and institutions can join in the melee or take other actions as they see fit to ensure their own interests are protected - it would be some time after that before a hearing to grant a WO Order would take place and there are many ways a business can avoid this even if they are skint – CVA anybody?



In the vast majority of cases, the debt is settled before the notice is published and unless someone is looking for the notice, it never becomes public knowledge. HMRC are the most prolific users of notice, as they use it as a debt collection tool, rather than with any intent to close a business down.
What i don't understand is how it went public now then? Is the only mechanism to call the court? So someone had to be calling the court daily just incase a notice was made, or someone has leaked it from the club.
 

PottersRightBoot

Active member
Joined
11 Dec 2017
Messages
404
This is cavalier, no , worse than that, extremely poor financial management, whatever the circumstances.

An advertised WUP - which is different from the current beast admittedly - leads to freezing of bank accounts. This is horrendous.
We are the next step back from that and hopefully it will be sorted but all supporters should be concerned. It is not a great advert for Tiger’s capabilities is it?

I wonder is it VAT of PAYE that is owed?

I assume the amount is significant - amounting to hundreds of thousands of pounds?

And what’s more concerning is that we are only three months after all the season ticket money has been collected in...
 

Scotchegg

Well-known member
2018-19 shirt sponsor for Jamie Hanson
Joined
14 Dec 2017
Messages
1,835
Interesting to hear it being claimed that this is only the second one.
Interesting that you think this matters? As someone with a journalistic background may be you could explain the impact this has on the day to day running of the club? Or are you jumping on the Hawks scaremongering bandwagon?!
 

Sarge

Well-known member
2018-19 shirt sponsor for Jamie Hanson
Joined
6 Dec 2017
Messages
14,562
This is cavalier, no , worse than that, extremely poor financial management, whatever the circumstances.

An advertised WUP - which is different from the current beast admittedly - leads to freezing of bank accounts. This is horrendous.
We are the next step back from that and hopefully it will be sorted but all supporters should be concerned. It is not a great advert for Tiger’s capabilities is it?

I wonder is it VAT of PAYE that is owed?

I assume the amount is significant - amounting to hundreds of thousands of pounds?

And what’s more concerning is that we are only three months after all the season ticket money has been collected in...
...and the un budgeted extra income from playing Man City in the League cup, in front of a full house at the breeze block. Where did that extra cash go?:unsure:
 

Navegante

Active member
Joined
14 Feb 2018
Messages
506
Interesting that you think this matters? As someone with a journalistic background may be you could explain the impact this has on the day to day running of the club?
In general, any half competently run establishment i.e. with sufficient financing, efficient administration and general good governance does not get into these situations.

I don't think for a moment that the club is in danger of going under and it is unlikely to negatively impact events on the pitch (assuming staff have been paid). Rather, it's a symptom that things are being run poorly behind the scenes.

Is it too much to expect that the VAT included in your ticket or replica shirt is handed over to the relevant authorities in a timely manner rather than being used to fund the day-to-day operations of the business (which is what the shareholders funding should be used for) ?
 

spmox

Junior Member
Joined
25 Jan 2018
Messages
55
In general, any half competently run establishment i.e. with sufficient financing, efficient administration and general good governance does not get into these situations.

I don't think for a moment that the club is in danger of going under and it is unlikely to negatively impact events on the pitch (assuming staff have been paid). Rather, it's a symptom that things are being run poorly behind the scenes.

Is it too much to expect that the VAT included in your ticket or replica shirt is handed over to the relevant authorities in a timely manner rather than being used to fund the day-to-day operations of the business (which is what the shareholders funding should be used for) ?
Thanks to Oxymoron for clarification and to you for raising appropriate level of concern.
It's not disastrous and it's not confidence inspiring. It is, at least, embarrassing for the new FD.
 

Similar threads


Top Bottom