by From Despair To Where? » 05 Mar 2024 11:07
by Dirk Gently » 05 Mar 2024 11:10
Forbury LionI assume this is for employer tax and Ni contributions so if he doesn't pay the players then no tax and NI is due.Fezza When is the next HMRC bill due?
So in theory if they didn't pay any wages but instead gave all the players and staff an interest free loan, they might be able to defer tax and NI... could then write the loans off and claim tax relief on them, although technically the players would still be entitled to backdated wages.
None of this will work in practice, but it's great bad accounting theory which I find fascinating.
Also, is the penalty worse for paying players late or paying the tax man late? - if more severe for tax then they might want to hold back player wages until they have enough funds for both.
by Elm Park Kid » 05 Mar 2024 13:25
by PieEater » 05 Mar 2024 13:29
ST noted sales in the January window are funding the Club, and that the original expectation was that this would fund to April but may now only cover up to, or part of, March
by Orion1871 » 05 Mar 2024 13:32
Elm Park Kid I just got some troubling information concerning our finances. Basically, if Dai doesn't agree to the sale very soon then we'll be getting the 2-point suspended deduction in April. Even if he does it depends on whether the new owner is willing to give us money before the sale is finalised.
by Armadillo Roadkill » 05 Mar 2024 13:59
Orion1871Elm Park Kid I just got some troubling information concerning our finances. Basically, if Dai doesn't agree to the sale very soon then we'll be getting the 2-point suspended deduction in April. Even if he does it depends on whether the new owner is willing to give us money before the sale is finalised.
Not exactly a revelation. Is anyone expecting us not to get the two points suspended taken from us?
by Mid Sussex Royal » 05 Mar 2024 14:53
Elm Park Kid I just got some troubling information concerning our finances. Basically, if Dai doesn't agree to the sale very soon then we'll be getting the 2-point suspended deduction in April. Even if he does it depends on whether the new owner is willing to give us money before the sale is finalised.
by Stranded » 05 Mar 2024 15:29
by WestYorksRoyal » 05 Mar 2024 15:45
by Elm Park Kid » 05 Mar 2024 17:08
Stranded It doesn't change much really, we are reliant on Dai deciding it is in his best interest to fund the club for the last 2 months of the season.
If he doesn't do so, then we will get a bare minimum 2pt deduction, if not more. The Commission knew this when they handed down the verdict, hence no point giving us 4 off as there won't be time to go through the process of deducting more when we eventually miss some form of payment.
by Snowflake Royal » 05 Mar 2024 17:40
Elm Park Kid I just got some troubling information concerning our finances. Basically, if Dai doesn't agree to the sale very soon then we'll be getting the 2-point suspended deduction in April. Even if he does it depends on whether the new owner is willing to give us money before the sale is finalised.
by Snowflake Royal » 05 Mar 2024 17:41
Armadillo RoadkillOrion1871Elm Park Kid I just got some troubling information concerning our finances. Basically, if Dai doesn't agree to the sale very soon then we'll be getting the 2-point suspended deduction in April. Even if he does it depends on whether the new owner is willing to give us money before the sale is finalised.
Not exactly a revelation. Is anyone expecting us not to get the two points suspended taken from us?
Maybe hoping we don't get further points deducted rather than expecting. And even if we get a further deduction, hoping that we have enough points to avoid being relegated by it.
It makes sense to me to try to remain positive. This is all hard enough to cope with without giving up hope.
by morganb » 05 Mar 2024 19:43
STAR update meeting with Nigel Howe. Not so positive today - things moving along in the background but we are fighting against time. We have a shortfall as expected this month and everyone at the club is working hard considering all funding options.
by windermereROYAL » 05 Mar 2024 20:42
by WestYorksRoyal » 05 Mar 2024 20:53
by Mid Sussex Royal » 05 Mar 2024 21:03
WestYorksRoyal Am I right there's a cut off to apply deductions for new offences? So even if we are late with everything 2 more points is the limit this season? Obviously we don't want to start next season on negative points and the risk is ultimately liquidation.
Anybody telling Dai how serious this is? This will all make buyers less likely to meet his asking price, and worst case scenario he's left with white elephant real estate assets with no team to use them.
by WestYorksRoyal » 05 Mar 2024 21:12
by PieEater » 05 Mar 2024 21:33
WestYorksRoyal It just needs one buyer show some urgency and force the issue. The company I work for has done a few acquisitions in the past few years, and they generally move slowly until somebody with authority decides they want it to be done, at which point it gets done. You may not get the perfect deal, but you can do due diligence and procrastinate in perpetuity without setting yourself a deadline.
We can all see what is for sale. A loss making football club in L1 with a good academy and real estate assets. What are buyers trying to achieve with 2 months due diligence?
by morganb » 05 Mar 2024 21:50
by Elm Park Kid » 05 Mar 2024 23:06
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