Share Transfers Agreed/Cooling off period

[Craig_in_Prague]

Cash flow:
"the pattern of income and expenses, and its consequences for how much money is available at a given time"

They have been stumbling month to month now for quite sometime. I am surprised they made it through to end of the season, but you have to wonder how much other creditor bills have been unpaid in 2013?

Horrible, Horrible club. Please juse die.

[AndyM_1875]

What excellent news to wake up to!

Yes Indeedy! Splendid news!

I have a spring in my step, the sun is shining and I love the Hibees.

Have a great day Hibees!

[7062]

Jambos are saying sell more season tickets. Fedatovas is saying ST money will go to strengthening the team. Will he go back on his promise about 24 hours after it being publicised???

Probably.

[PatHead]

Surely the SPL will have to put the club on a transfer embargo for not paying taxes. Take it Danny Wilson can't sign then.......How do we remind SPL of the rules.

[Gettin' Auld]

"DANNY WILSON reckons Hearts would not have given him a deal if they were about to go bust.
That’s why he had no hesitation in turning his loan move from Liverpool into a permanent switch."

Read more: http://www.thesun.co.uk/scotsol/homepage/sport/spl/4944547/Hearts-arent-broken-says-Danny-Wilson.html#ixzz2VE3uWmbO


Brilliant.

What a fan-dan.

Plus he turned down more money from clubs in the English Championship League to sign for those destitute dafties. What a tosser!!! :greengrin

[matty_f]

If you don't pay batman that can only lead to trouble.

:hilarious:

[bighairyfaeleith]

Jambos are saying sell more season tickets. Fedatovas is saying ST money will go to strengthening the team. Will he go back on his promise about 24 hours after it being publicised???

Probably.

do you remember the one about the share money won't be used for running costs?

[Aldo]

Surely the SPL will have to put the club on a transfer embargo for not paying taxes. Take it Danny Wilson can't sign then.......How do we remind SPL of the rules.

Taxes are Hector's job. Wages in a fortnight so lets hope they don't get paid... Then the SPL can bottle it again (transfer embargo can be in place shortly there after. If they are not shut down by HMRC by then)

[bingo70]

Were we not meant to find out if Webster was signing a new contract yesterday?

[Craig_in_Prague]

do you remember the one about the share money won't be used for running costs?

And the club is moving towards being self sufficient.
Or are they already self sufficient.
I forget.
Allisbarry.

[Peevemor]

Cash flow:
"the pattern of income and expenses, and its consequences for how much money is available at a given time"

They have been stumbling month to month now for quite sometime. I am surprised they made it through to end of the season, but you have to wonder how much other creditor bills have been unpaid in 2013?

Horrible, Horrible club. Please juse die.


The whole thing makes their shirt sponsorship with Wonga even more ironic. When you're skint you have to do everything possible to live within your means instead of dipping into next month's (or season's) cash in the hope that all will be barry later on.

[Caversham Green]

Surely the SPL will have to put the club on a transfer embargo for not paying taxes. Take it Danny Wilson can't sign then.......How do we remind SPL of the rules.

Good point - they have to advise the SPL of any default in paying HMRC. I wonder if they've done that.

[blackpoolhibs]

And remember the administration application by UBIG is only a fortnight away too, and its not the janitor this time either. As batman would say, KAAPPOW.

[Aldo]

Good point - they have to advise the SPL of any default in paying HMRC. I wonder if they've done that.

Maroon tinted specks. How many chances are the gonnae get.

[Www1875hfc]

And the fans just roll over and get there belly' tickled. Brilliant :aok:

Time for russian hats to be kicked about behind that old rickety asbestos stand thats stood since 1914. :greengrin

Nah,thought not. Craigieboy and the rest o the roasters your day will come ya shower o C**** its getting closer and closer.

[LeithSqualk]

Some fandan over there recons they should get all their signings in this week so if they cant afford to pay wages they will beat the inevitable transfer ban. They just don't get it.

[poolman]

And remember the administration application by UBIG is only a fortnight away too, and its not the janitor this time either. As batman would say, KAAPPOW.


and Thwack :bye: Yams

[Treadstone]

Banderson has tweeted a quick 'read it in todays EEN'

I will wait for his tweet to go through the bulls*** machine and read his parody account Andy Barryson who I feel speaks more truth! :lolyam:

[#FromTheCapital]

Link lifted from PM board http://www.scotsman.com/edinburgh-ev...bill-1-2953713 (http://www.scotsman.com/edinburgh-evening-news/latest-news/hearts-could-face-winding-up-order-over-tax-bill-1-2953713)

[Craig_in_Prague]

Link lifted from PM board http://www.scotsman.com/edinburgh-ev...bill-1-2953713 (http://www.scotsman.com/edinburgh-evening-news/latest-news/hearts-could-face-winding-up-order-over-tax-bill-1-2953713)

The club are paying that debt back in monthly instalments over a three-year period and the first payment, which was due last month, is believed to have been paid on time.

Really? monthly?
So they paid that installment, what, 41K? whooppeeee
All stories on our pink neighbours, are awful. We need the lady from Chewin the Fat.... " I smell sh**e"

ps. I stopped reading the article at that point.

[God Petrie]

The comments are great on that story

Stevie Blue 1872 WATP
Its gonna be turbulent times for the hearts supporters during june and I wouldn't wish it upon any football fan. I do hope you survive but don't expect you will get the same sympathies from any of the san giro fans of hatred across the city.

HHGH

WATP

[kdhibees1]

Just woke up, looked out the window, beautiful day. Turned the PC on. Hibs.net first thing on my mind. An extra 3 threads on the demise of hearts and yet again I am laughing my head off at their petty shambles of a club. Absolutely wonderful!! They (of course) will pay this but my word, things are going to get better and better by the day!! GGTTH:greengrin

[Treadstone]

That early payment they took for Lee Wallace losing out on £100k is lookimg pretty shrewd said no one ever. :faf:

[21.05.2016]

God sake guys don't you know that everything is absolutely fine because they are the big team, we are the wee team, we haven't won the cup since 1902 and they once won 5-1!





:greengrin

[Dibben]

That early payment they took for Lee Wallace losing out on £100k is lookimg pretty shrewd said no one ever. :faf:

Can you imagine the Hearts board sitting across the room discussing their business plan with Sir Alan Sugar?

'You're fired'

[21.05.2016]

Grotty, scabby horrible little club, hope their demise is as slow and as painful as possible!

[Diclonius]

Moves for Kris Boyd, David Goodwillie and David Wotherspoon have been put on hold until this latest mess is sorted.

Put on hold? What? Why "put on hold", instead of "abandoned because we clearly have no ****ing money to pay one of them let alone all three"? :grr:

[21.05.2016]

Put on hold? What? Why "put on hold", instead of "abandoned because we clearly have no ****ing money to pay one of them let alone all three"? :grr:

Exactly. It's like last year when they went and signed Beattie in January when they were skint.

[Dibben]

Love this line...

“The best way you can do this is by purchasing a season ticket. This is the one single most important action that you as a supporter of the club can take.”

Obviously he means since the share issue last year. I wonder how many times they'll keep trotting out this line?

[hibs4thecup1988]

The guy on SSN was doing his best not to piss himself laughing in my view.

Is this another that is going to go on and on and on? I see they have 7 days to pay a "6 figure sum"

We will see...

[21.05.2016]

I'm sure this will be another one of these things that those jammy *******s manage to squirm their way out of. They aren't called the jam tarts for nothing, they are jammy *******s of the highest order!

[Part/Time Supporter]

The guy on SSN was doing his best not to piss himself laughing in my view.

Is this another that is going to go on and on and on? I see they have 7 days to pay a "6 figure sum"

We will see...

They have seven days until HMRC commence court action. In reality that means they have 17-21 days to pay, because the other creditors require notice of the court action (it would be advertised in the Edinburgh Gazette and the Scotsman). They should surely be able to meet that sort of deadline.

Assuming they cobble together the money for this tax debt, the bigger problems are that a) the SPL should reimpose the transfer ban and b) they will struggle to see through next season.

[Kato]

Can you imagine the Hearts board sitting across the room discussing their business plan with Sir Alan Sugar?

'You're fired'

'You're under arrest', more like.

[jacomo]

Put on hold? What? Why "put on hold", instead of "abandoned because we clearly have no ****ing money to pay one of them let alone all three"? :grr:

I think we have the answer...


Love this line...

“The best way you can do this is by purchasing a season ticket. This is the one single most important action that you as a supporter of the club can take.”

Obviously he means since the share issue last year. I wonder how many times they'll keep trotting out this line?

Hearts are trying to hoover up as much cash as possible, if any Yams believe that their season ticket money will be used to fund a move for Goodwillie or whoever then more fool them.

[Treadstone]

They have seven days until HMRC commence court action. In reality that means they have 17-21 days to pay, because the other creditors require notice of the court action (it would be advertised in the Edinburgh Gazette and the Scotsman). They should surely be able to meet that sort of deadline.

Assuming they cobble together the money for this tax debt, the bigger problems are that a) the SPL should reimpose the transfer ban and b) they will struggle to see through next season.

Salaries will be due in that 17-21 day timeframe also.

[Aldo]

They've admitted to having a 2.5 million quid shortfall. So at some point they will have nowt left.... O like the now.

Hope something happens before I go in ma hols a week in Thurs. 2 weeks without ma phone. God forbid.

[Northernhibee]

Were we not meant to find out if Webster was signing a new contract yesterday?

Aberdeen bound I believe.

[kdhibees1]

I'm sure this will be another one of these things that those jammy *******s manage to squirm their way out of. They aren't called the jam tarts for nothing, they are jammy *******s of the highest order!
As much as I agree with this comment, they really are goosed this time in terms of spending ridiculous amounts on mediocre players. Can't wait to see their starting eleven next season (if) they still exist!

[HFC 0-7]

They have seven days until HMRC commence court action. In reality that means they have 17-21 days to pay, because the other creditors require notice of the court action (it would be advertised in the Edinburgh Gazette and the Scotsman). They should surely be able to meet that sort of deadline.

Assuming they cobble together the money for this tax debt, the bigger problems are that a) the SPL should reimpose the transfer ban and b) they will struggle to see through next season.

If they don't already have this money, I am not sure how they will get it together. They have had the st money, not sure how many more they will sell as some of them may well be holding onto the money to purchase a st from whatever is left. They have wages to pay in 2 weeks as well. As you say it's more like they have 3 weeks to pay the tax bill,that means the salaries will be due first.
.

[Part/Time Supporter]

Salaries will be due in that 17-21 day timeframe also.

The players won't close them if they're paid late. HMRC would.

[Treadstone]

The players won't close them if they're paid late. HMRC would.

Just put it forward as another financial hurdle in their way.

[Treadstone]

http://sport.stv.tv/football/clubs/hearts/228019-hearts-in-talks-with-hmrc-as-club-is-hit-with-a-six-figure-tax-bill/


Hearts are being chased for a tax bill of £100,000.The Edinburgh club owes HM Revenue and Customs the sum in PAYE.
In a comment given to The Edinburgh Evening News (http://www.scotsman.com/edinburgh-evening-news/latest-news/hearts-could-face-winding-up-order-over-tax-bill-1-2953713), a spokesman for Hearts said they were speaking to the tax authorities about the bill.
The spokesman said: “We are in dialogue with HMRC and expect to make payment in the very near future.”

Not sure how you can 'talk' to HMRC about PAYE.

[CropleyWasGod]

http://sport.stv.tv/football/clubs/hearts/228019-hearts-in-talks-with-hmrc-as-club-is-hit-with-a-six-figure-tax-bill/



Not sure how you can 'talk' to HMRC about PAYE.

Happens all the time. I encourage my clients to talk to HMRC if they have a problem, as soon as possible. HMRC are normally more willing to negotiate if people do that, rather than ignoring it.

[jacomo]

Link lifted from PM board http://www.scotsman.com/edinburgh-ev...bill-1-2953713 (http://www.scotsman.com/edinburgh-evening-news/latest-news/hearts-could-face-winding-up-order-over-tax-bill-1-2953713)

This is a belter:



Fedotovas was already aware of this latest debt crisis on Saturday when he sent out a personal letter to supporters who are yet to renew their season tickets.

Yet the letter claimed all renewed season tickets will go towards recruiting players?? Are you quite sure Mr Fedotovas?

[Spike Mandela]

Happens all the time. I encourage my clients to talk to HMRC if they have a problem, as soon as possible. HMRC are normally more willing to negotiate if people do that, rather than ignoring it.

At which point do HMRC stop buying the bull**** and start saying "aye right pal, we want our money now".

Hearts are consistent, repeat offenders.

[Treadstone]

Happens all the time. I encourage my clients to talk to HMRC if they have a problem, as soon as possible. HMRC are normally more willing to negotiate if people do that, rather than ignoring it.

What does the negotiating achieve ? Payments spread out to be added on future bills ?

[Caversham Green]

They have seven days until HMRC commence court action. In reality that means they have 17-21 days to pay, because the other creditors require notice of the court action (it would be advertised in the Edinburgh Gazette and the Scotsman). They should surely be able to meet that sort of deadline.

Assuming they cobble together the money for this tax debt, the bigger problems are that a) the SPL should reimpose the transfer ban and b) they will struggle to see through next season.

HMRC could put an application for administration (as opposed to winding up) in immediately - remember the fiasco before Duff & Phelps were appointed? I'm wondering if HoMFC might now bite the bullet and do it themselves - it looks inevitable and there's no real point in keeping them 'solvent' other than to squeeze as much money out of the Gorgie massive as they can, and even some of them seem to be getting a bit suspicious.

[Benny Brazil]

HMRC could put an application for administration (as opposed to winding up) in immediately - remember the fiasco before Duff & Phelps were appointed? I'm wondering if HoMFC might now bite the bullet and do it themselves - it looks inevitable and there's no real point in keeping them 'solvent' other than to squeeze as much money out of the Gorgie massive as they can, and even some of them seem to be getting a bit suspicious.

Yes but Keechback will soon beat it out of him and make him see "sense"

[Liberal Hibby]

They have seven days until HMRC commence court action. In reality that means they have 17-21 days to pay, because the other creditors require notice of the court action (it would be advertised in the Edinburgh Gazette and the Scotsman). They should surely be able to meet that sort of deadline.

Assuming they cobble together the money for this tax debt, the bigger problems are that a) the SPL should reimpose the transfer ban and b) they will struggle to see through next season.

Doesn't it depend on whether this is a missed payment of their previous debt or a new debt? If it's a missed payment on their agreed payment plan - surely HMRC don't need to go through the court process again - they can go straight to winding up/admin? If it's a new debt then they are in breach of the real time PAYE provisions and then HMRC have powers to take action separately from other creditors?

[Part/Time Supporter]

Doesn't it depend on whether this is a missed payment of their previous debt or a new debt? If it's a missed payment on their agreed payment plan - surely HMRC don't need to go through the court process again - they can go straight to winding up/admin? If it's a new debt then they are in breach of the real time PAYE provisions and then HMRC have powers to take action separately from other creditors?

My understanding is that it is new debt.

[Dibben]

My understanding is that it is new debt.

It can't be new debt... They're self sufficient!

[sidneyhibbie]

IMO Opinion they will be in Administration before the month is over it looks to me that they are totally pot less and this new bill and the wage bill thats due on the 16th will cause the place to implode, and we have the juicy goings on at UBIG who will also be in Admin before the month is over, the slow painfull death of a thousand cuts will change into a tsunami very very soon.

[Winston Ingram]

Doesn't it depend on whether this is a missed payment of their previous debt or a new debt? If it's a missed payment on their agreed payment plan - surely HMRC don't need to go through the court process again - they can go straight to winding up/admin? If it's a new debt then they are in breach of the real time PAYE provisions and then HMRC have powers to take action separately from other creditors?

Their payment plan will no doubt include agreement that all other PAYE/Tax payments are kept up to date:agree:

[PatHead]

IMO Opinion they will be in Administration before the month is over it looks to me that they are totally pot less and this new bill and the wage bill thats due on the 16th will cause the place to implode, and we have the juicy goings on at UBIG who will also be in Admin before the month is over, the slow painfull death of a thousand cuts will change into a tsunami very very soon.

My birthday on the 16th and Father's Day. How nice a present would that be!!!!!!!

[green glory]

@Kenny_Millar: A few Hearts fans missing the point with this £100k PAYE bill. Money was due yesterday. They've a week to pay or a winding up order follows.

[monktonharp]

And the club is moving towards being self sufficient.
Or are they already self sufficient.
I forget.
Allisbarry. and even yet, the dancing horse sings; cake and custard when the jambos die:singing:

[HUTCHYHIBBY]

IMO Opinion they will be in Administration before the month is over it looks to me that they are totally pot less and this new bill and the wage bill thats due on the 16th will cause the place to implode, and we have the juicy goings on at UBIG who will also be in Admin before the month is over, the slow painfull death of a thousand cuts will change into a tsunami very very soon.

Yip, I think we have reached the final moves of Jambo Jenga, it'll all come crashing down soon!

[green glory]

A lot of Brokebackers reporting the Homfc website is down. Managing to get on it ok myself though. Starting to spook them though.

They'll all be need maroon coloured breeks at this rate.

[Peevemor]

Will Daffy be allowed on the main board?

[NadeAteMyLunch!]

They have no money to pay bills and we are weeks away from the new season still. They don't have a Spurs/Liverpool tie to fleece their fans £40 a head for this season, they don't have a Templeton/McGowan to flog to make ends meet. In short, they don't have a prayer. Bye bye Hearts

[Kato]

maroon coloured breeks

Good lord, man - don't you know its lunchtime?

[jacomo]

A lot of Brokebackers reporting the Homfc website is down. Managing to get on it ok myself though. Starting to spook them though.

They'll all be need maroon coloured breeks at this rate.

http://www.heartsfc.co.uk/

:hilarious

Go to the site, press F5 and see what happens. As far as I can tell, #allisnotverybarryatall

[kdhibees1]

http://www.heartsfc.co.uk/

:hilarious

Go to the site, press F5 and see what happens. As far as I can tell, #allisnotverybarryatall
Is their new stadium plan still on it???? :na na:

[MacBean]

19/05/2012, on 04 June 2013 - 10:15 AM, said: Might push any takeover bids forward





:faf::faf::faf:

[jacomo]

Is their new stadium plan still on it???? :na na:

At the moment, the whole appears to have been taken down.

I hope that archivists have kept copies, because the "Now that's what you call an planning application!" page is a gem that still causes mirth many years on.

[DaveF]

http://www.heartsfc.co.uk/

:hilarious

Go to the site, press F5 and see what happens. As far as I can tell, #allisnotverybarryatall

I don't get it :confused:

[Cabbage East]

I don't get it :confused:

There's nothing up on the site. The whole thing seems to have been taken down. You might be looking at an old version. Is it working for you? If so, press Ctrl and F5

[kdhibees1]

Their site appears to be working now, maybe their web hosting bill has not been paid and they are fannying about with them!

[1two]

They'll all be need maroon coloured breeks at this rate.

Hahaha

[itslegaltender]

looks like the Yams havent paid their web bills! #worrying Clicking on any page on the site takes you away from their page to a landing page for someone with a temp web page.

[Caversham Green]

I don't get it :confused:

You get the front page ok, but when you click any of the links they all take you to the same non-HOMFC page....

[hibs4thecup1988]

I don't get it :confused:

Me neither... :confused:

[hibs4thecup1988]

You get the front page ok, but when you click any of the links they all take you to the same non-HOMFC page....

Not here.. :confused:

[DaveF]

I don't get it :confused:

I get it now. Oh dear, #allisnotverybarry :thumbsup:

[Caversham Green]

Not here.. :confused:

Naw it's stopped happening with me too now, very odd.

[Peevemor]

looks like the Yams havent paid their web bills! #worrying Clicking on any page on the site takes you away from their page to a landing page for someone with a temp web page.

The hosting is paid up to date until next year (if I understand correctly).



Relevant dates:
Registered on: before Aug-1996
Expiry date: 21-Feb-2015
Last updated: 23-Dec-2012

Registration status:
Registered until expiry date.

http://whois.domaintools.com/heartsfc.co.uk

[hibeesdude]

Weird works on my PC at work and not on my phone.
Now a wee look on Whois.net shows heartsfc.co.uk as an available domain name not sure how accurate that is but my own domain shows not available

[greenpaper55]

looks like the Yams havent paid their web bills! #worrying Clicking on any page on the site takes you away from their page to a landing page for someone with a temp web page.

I'm getting the same on the Hibs site though.

[Caversham Green]

@Kenny_Millar: A few Hearts fans missing the point with this £100k PAYE bill. Money was due yesterday. They've a week to pay or a winding up order follows.

PAYE payments are usually on the 19th or 22nd of the month. I'm wondering what would have been due on the 3rd June.

[KWJ]

Yeah, Hibs site not working right with me either.

[ScottB]

The hosting is paid up to date until next year (if I understand correctly).




http://whois.domaintools.com/heartsfc.co.uk

That's just the domain name though, if they are behind on their monthly hosting fee, or if they pay an external company to maintain / update their site and they are behind on those payments those would be reasons to pull the site.

I do quite a bit of web design and clients that don't pay get their sites turned off or links changed...

[Off the bar]

''Website is down, club closed by today. Women at the TO are packing boxes. Gutted.''

just posted by someone on brokeback, the fella has over 11,000 posts so if it is one of us under cover over there, it is deep, deep cover

[ScottB]

I'm getting the same on the Hibs site though.

I wonder if a lot of the football club sites come from one supplier, since they generally look pretty similar, in which case they could be having issues rather than Hearts not paying up

[Peevemor]

''Website is down, club closed by today. Women at the TO are packing boxes. Gutted.''

just posted by someone on brokeback, the fella has over 11,000 posts so if it is one of us under cover over there, it is deep, deep cover


Ocht - that's just another planning application. :greengrin

[kdhibees1]

Ocht - that's just another planning application. :greengrin
:not worth:faf: Class!

[Saorsa]

At the moment, the whole appears to have been taken down.

I hope that archivists have kept copies, because the "Now that's what you call an planning application!" page is a gem that still causes mirth many years on.I've got all the good stuff including that :greengrin 3D stadium tours, share offer :hilarious, etc, etc.

[ScottB]

If you'd just been told you were out of a job and the club was shutting down, why on earth would you hang around to pack boxes?

[1two]

http://youtu.be/81ycZbD4bKg

[Liberal Hibby]

PAYE payments are usually on the 19th or 22nd of the month. I'm wondering what would have been due on the 3rd June.

I was wondering if it was their May PAYE - due on the 22nd. Seven working days (with late May English bank holiday) takes you to yesterday. Then they're not one day into the seven days grace period (if there is one) they're one day over it. Which tallies with the tweet (and rumours of staff packing up)...

[Aldo]

If you'd just been told you were out of a job and the club was shutting down, why on earth would you hang around to pack boxes?

Pack a box with your own stuff ??

[#FromTheCapital]

https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcRBtihPyeIQTnckOIrWEKT33FP-xzLFBMFYmw500Cg1AXTEetWFCg (http://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=BxQm3EgFykiihM&tbnid=obFV5vQAEGQRMM:&ved=0CAUQjRw&url=http%3A%2F%2Fwww.heartsfc.co.uk%2Farticles%2F2 0080116%2Fthats-an-application_2241749_1216908&ei=QOGtUfLQDIz40gXQ9oDgDQ&bvm=bv.47244034,d.ZWU&psig=AFQjCNEG76Cz_SieWRrG7GBKoi-rxtALTg&ust=1370436265373620)

Now that's what I call a planning application!

http://www.edinburgharchitecture.co.uk/images/jpgs/hearts_stadium_hmfc230108_4.jpg (http://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=zblSG_OAauoHyM&tbnid=2fZhMAnbwqlytM:&ved=0CAUQjRw&url=http%3A%2F%2Fwww.edinburgharchitecture.co.uk%2 Fhearts_new_stand.htm&ei=geGtUbLjEvLy0gWnqYDIAQ&bvm=bv.47244034,d.ZWU&psig=AFQjCNEG76Cz_SieWRrG7GBKoi-rxtALTg&ust=1370436265373620)

Due to be finished before the trams

[Treadstone]

I've got all the good stuff including that :greengrin 3D stadium tours, share offer :hilarious, etc, etc.

Saved a few myself. Snippet from their 'news' in 2008. Tick them off as you go along.

10067

[7062]

Their website is working on my phone.

Does anyone know how to disinfect a phone?

[kdhibees1]

Their website is working on my phone.

Does anyone know how to disinfect a phone?
Drop it in the bog after offloading a big smelly skitter!!

[Saorsa]

http://i42.tinypic.com/e8phmq.jpg


http://i39.tinypic.com/2rwnl10.jpg

http://i44.tinypic.com/9h5sn4.jpg

welcome tae the future :hilarious Future! :faf: :faf:

[Dibben]

Does anyone know how to disinfect a phone?

Open a new window???

:-)

[Ozyhibby]

Due to be finished before the trams

to be fair to Hearts, that's still an each way bet. :-)

[Baader]

http://i42.tinypic.com/e8phmq.jpg


http://i44.tinypic.com/9h5sn4.jpg

welcome tae the future :hilarious Future! :faf: :faf:

Great looking stand. Pity the only version built was a 5 inch high plastic model...

[Spike Mandela]

If you'd just been told you were out of a job and the club was shutting down, why on earth would you hang around to pack boxes?

To ditch incriminating documents before administrators come in of course.:cb

[Treadstone]

Absolutely love the brokeback thread on the latest threat. 1st post after the opener saying wages/taxes and nae dough.


Tazio
Posted Yesterday, 22:25

And how did you work this out?


The club have banked the money for 6500k season tickets

:faf: :lolyam:

[Caversham Green]

I was wondering if it was their May PAYE - due on the 22nd. Seven working days (with late May English bank holiday) takes you to yesterday. Then they're not one day into the seven days grace period (if there is one) they're one day over it. Which tallies with the tweet (and rumours of staff packing up)...

It would be the April PAYE (i.e. up to 5th May) due on 22nd May. I could see it taking HMRC that week plus to chase them, but it's wrong to suggest it was due yesterday. You get 14 days up to the 19th to pay, plus three days grace to the 22nd in some cases but the 19th or the 22nd is when it's due. If it is the April/5th May PAYE then it's much further overdue than the tweet suggests.

[green glory]

Their site still working fine here. On PC and phone???

[ScottB]

Absolutely love the brokeback thread on the latest threat. 1st post after the opener saying wages/taxes and nae dough.



:faf: :lolyam:

6,500,000 season tickets seems unlikely, even for a club with 400,000 loyal fans...

[kdhibees1]

A few squeaky erchies over on Yak Back. Loving how their last remaining brain cells are starting to take in what's going doon, as well as there shambolic dirty club!! Tremendous!!:thumbsup:

[Baader]

Could be similar to the fall of the Eastern Bloc all over again.... Nasty Stasi types shredding documents as the (pro-capitalist) HMRC are breaking down the doors about to storm the Lith bunker...

- "Destroy all receipts for 100w lightbulbs..."

"What about the pre-contracts?"

"Such deals do not exist. Get rid of any evidence of cake transactions..."

[lapsedhibee]

6,500,000 season tickets seems unlikely, even for a club with 400,000 loyal fans...

:agree: Even if they gave out a season ticket with every fairy cake baked, 6.5m seems high. Although that wumman that hangs out the window with a banner could have accounted for 1 or 2m.

[Pretty Boy]

6,500,000 season tickets seems unlikely, even for a club with 400,000 loyal fans...

Ah but you must remember there will be hundreds of thousands of neutral football fans buying STs just to ensure the footballing behemoth that is the Famous Heart of Midlothian Football Club survive.

[brog]

''Website is down, club closed by today. Women at the TO are packing boxes. Gutted.''

just posted by someone on brokeback, the fella has over 11,000 posts so if it is one of us under cover over there, it is deep, deep cover

I was in Canary Wharf day Lehmann Brothers sank. Was chaos, people running out of building with boxes, laptops, basically anything they could scavenge. Suggest an emergency team is immediately deployed to PBS to ensure safety of the fax machine!!

[YehButNoBut]

Couple more from kickback, had to be a Hibby the Riccarton one. :lolyam:

The site is being transferred over to www.TheHearts.co.uk (http://www.TheHearts.co.uk) it's all part of the process.

One thing i was wondering - what is the deal with Riccarton? Do we own it, is it an asset? Is it just leased from Heriot-Watt?

[Caversham Green]

http://i42.tinypic.com/e8phmq.jpg


http://i39.tinypic.com/2rwnl10.jpg

http://i44.tinypic.com/9h5sn4.jpg

welcome tae the future :hilarious Future! :faf: :faf:

For those who still think the Yams are going to come out of this unscathed, it's worth casting your mind back to the days when this rubbish was first being proposed along with managers like Bobby Robson and Kevin Keegan. Whilst we never actually believed they would happen, there can't have been many who thought the day would come when John McGlynn was too expensive for them either.

[Liberal Hibby]

It would be the April PAYE (i.e. up to 5th May) due on 22nd May. I could see it taking HMRC that week plus to chase them, but it's wrong to suggest it was due yesterday. You get 14 days up to the 19th to pay, plus three days grace to the 22nd in some cases but the 19th or the 22nd is when it's due. If it is the April/5th May PAYE then it's much further overdue than the tweet suggests.

Thanks Cav - excellent news. Given they're on a payment plan - negotiated after court proceedings - can HMRC proceed directly to liquidation, without passing through the court phase again?

[Caversham Green]

Thanks Cav - excellent news. Given they're on a payment plan - negotiated after court proceedings - can HMRC proceed directly to liquidation, without passing through the court phase again?

Probably not liquidation, but I think they could petition for an administration order straight away - IIRC that's what happened to Craig Whyte's Rangers - remember he was chasing around Glasgow trying to appoint his own administrators after HMRC had applied to the court?

[green glory]

''Website is down, club closed by today. Women at the TO are packing boxes. Gutted.''

just posted by someone on brokeback, the fella has over 11,000 posts so if it is one of us under cover over there, it is deep, deep cover

Which thread? I'm dying to see the replies to this?

[kdhibees1]

http://blogs.guardian.co.uk/slideshows/albums/album-399/lg/David-White.jpg

[Liberal Hibby]

Probably not liquidation, but I think they could petition for an administration order straight away - IIRC that's what happened to Craig Whyte's Rangers - remember he was chasing around Glasgow trying to appoint his own administrators after HMRC had applied to the court?

Indeed I do. Tick tock...

[Treadstone]

Which thread? I'm dying to see the replies to this?

http://www.hmfckickback.co.uk/index.php?/topic/128713-tax-casewages-hearts-bust-in-a-week-merged/

Beware! Some of these jokers you wouldn't even give the remote control to.

[Part/Time Supporter]

It would be the April PAYE (i.e. up to 5th May) due on 22nd May. I could see it taking HMRC that week plus to chase them, but it's wrong to suggest it was due yesterday. You get 14 days up to the 19th to pay, plus three days grace to the 22nd in some cases but the 19th or the 22nd is when it's due. If it is the April/5th May PAYE then it's much further overdue than the tweet suggests.

Although the Sun article talks about it being PAYE that is overdue, I think VAT is the likelier suspect. Their monthly payment would be due at each month end (in this case last Friday); HMRC often give a bit of latitude on VAT payments (switchover from cheque to electronic payments) and a back of a fag packet calculation suggests £100K wouldn't be far short of their monthly VAT liability (annual turnover of £7M x 20% VAT / 12 months = £117K).

It wouldn't be the first time the MSM has muddled up VAT with PAYE.

[steviehibsleith]

OK so they agreed a plan with the Taxman over unpaid tax back in March/April, this would be paid in installments over a 18 month period.
In May they have missed PAYE by £100k which is due to the taxman .
I was under the impression that the deal was no defaulting or else .........

Come on Hector administartion/liquidation and lets get this party started because as much as I am enjoying this I have to admit my champagne is ready to pop !

[Off the bar]

Which thread? I'm dying to see the replies to this?


post 321 on the ''tax-casewages-hearts-bust-in-a-week-merged'' thread, although they've not really responded to his post, more heads in the sand stuff? fuds.

[Brightside]

Although the Sun article talks about it being PAYE that is overdue, I think VAT is the likelier suspect. Their monthly payment would be due at each month end (in this case last Friday); HMRC often give a bit of latitude on VAT payments (switchover from cheque to electronic payments) and a back of a fag packet calculation suggests £100K wouldn't be far short of their monthly VAT liability (annual turnover of £7M x 20% VAT / 12 months = £117K).

It wouldn't be the first time the MSM has muddled up VAT with PAYE.

PAYE is monthly. VAT is quarterly.

[Craig_in_Prague]

PAYE is monthly. VAT is quarterly.

Or just whenever you want / have the cash......

[Part/Time Supporter]

PAYE is monthly. VAT is quarterly.

Monthly payments on account are made for VAT if your turnover is >£2.3M

[steakbake]

Or just whenever you want / have the cash......

Like what all the big teams do? Not paying your bills is standard practice, don't you know?

#nothingtoseehere
#allisbarry
#1-5

...etc etc...

#whistlinginthedark

[Brightside]

Monthly payments on account are made for VAT if your turnover is >£2.3M

Oh aye...I'm just under that. :wink:

[Gus Fring]

Hearts board seem to have gotten all their financial experience from playing monopoly, thus far they've been lucky with the Community Chest cards.

http://i39.tinypic.com/n1cpic.jpg

But we all know you can't rely on these to help with cashflow because whilst Hearts may be hoping for

http://i43.tinypic.com/2zoby13.jpg

They are far more likely to end up with

http://i40.tinypic.com/35lrsj4.jpg

[Treadstone]

Monthly payments on account are made for VAT if your turnover is >£2.3M

Makes you wonder how Craig Whyte got away with not paying for 9 months.:wink:

[HIBERNIAN-0762]

Best one for me is "is there any news of the share certificates yet?"

:hilarious

[Off the bar]

Best one for me is "is there any news of the share certificates yet?"

:hilarious

best thing about that is that everyone else just ignores it like 'la la la I can't hear you'

[poolman]

Could be similar to the fall of the Eastern Bloc all over again.... Nasty Stasi types shredding documents as the (pro-capitalist) HMRC are breaking down the doors about to storm the Lith bunker...

- "Destroy all receipts for 100w lightbulbs..."

"What about the pre-contracts?"

"Such deals do not exist. Get rid of any evidence of cake transactions..."


Crumbs :worried:

[GraniteCityHibs]

"The club has money in place to fund all bills due over the summer so please give it a rest. Do you really think the club has offered Wilson a three year contract with no funds in place to his firsr wage. Unbelievaible"

....eh.......yeah!

Honestly. Its like some of them have no concept of what has been going on since 2006.

[clerriehibs]

Do the hmrc add costs for these incessant trips to court for unpaid homfc tax?

[SaulGoodman]

I love that website:

'People actually though we were signing goodwillie and Boyd'

'Im not believing a word the board says from now on'

Board come out with an 'allisbarry' statement and it's all hail king vlad again.. Are they off their nuts?

[HoboHarry]

Probably not liquidation, but I think they could petition for an administration order straight away - IIRC that's what happened to Craig Whyte's Rangers - remember he was chasing around Glasgow trying to appoint his own administrators after HMRC had applied to the court?
I'm not a financial guy and don't pretend to understand much of this. However what I am curious about is why they are hanging on so long? By them I mean Sergejus Fedotovas and his ilk. Seemed like Vlad gave up pretty quick on Kanuas, basketball team etc etc. Not to mention the aluminium plant etc. Why are they trying so hard to keep Hearts alive? What will it gain for them in realistic terms?

[Part/Time Supporter]

I'm not a financial guy and don't pretend to understand much of this. However what I am curious about is why they are hanging on so long? By them I mean Sergejus Fedotovas and his ilk. Seemed like Vlad gave up pretty quick on Kanuas, basketball team etc etc. Not to mention the aluminium plant etc. Why are they trying so hard to keep Hearts alive? What will it gain for them in realistic terms?

1. HMFC can survive as a separate business. It traded without them for 130 years before they arrived, whereas FBK Kaunas (for example) basically had no history of running as a professional club without Romanov.

2. HMFC are now paying salaries to the (Lithuanian) directors.

[HoboHarry]

1. HMFC can survive as a separate business. It traded without them for 130 years before they arrived, whereas FBK Kaunas (for example) basically had no history of running as a professional club without Romanov.

2. HMFC are now paying salaries to the (Lithuanian) directors.
Doesn't really answer the question in my mind. They still have the on-going costs like wages, stadium, taxes etc to pay out and all the while they are staring liquidation in the face. As to their salaries - loss of personal income certainly but I don't doubt for a second they have other forms of income

[Not In The Know]

"
2. HMFC are now paying salaries to the (Lithuanian) directors."

Thats it in a nutshell! Romanov has had all his assets frozen and half his families, explaining why Rodney was re-elected to the board at Tincastle. He's probably sending his wages home to feed his folks :greengrin:greengrin.

They need to milk every last penny from that place before it goes pop.

[Hermit Crab]

http://www.bbc.co.uk...otball/22771793 (http://www.bbc.co.uk/sport/0/football/22771793)

Apologies if posted already.

[Part/Time Supporter]

Doesn't really answer the question in my mind. They still have the on-going costs like wages, stadium, taxes etc to pay out and all the while they are staring liquidation in the face. As to their salaries - loss of personal income certainly but I don't doubt for a second they have other forms of income

British football clubs are entities which are very hard to kill - many are amongst the oldest companies in existence. Even if a club is in a desperate financial position, the fans will generally put their hands in the pockets again and provide enough for the club to survive. Businesses in other industries which had their finances would have gone bust a long time ago (eg nobody would have bought into the share issue as a rational investment). Now that they are paying salaries to them and any liquidation proceeds would go to the Lithuanian government, there is no incentive for Fedotovas et al to shut them down.

[the_ginger_hibee]

Doesn't really answer the question in my mind. They still have the on-going costs like wages, stadium, taxes etc to pay out and all the while they are staring liquidation in the face. As to their salaries - loss of personal income certainly but I don't doubt for a second they have other forms of income

Just guessing here but in the UBIG 'stratosphere' Hearts income is probably the highest in relevance to the simplicity in actually gaining the income.

ST money due in now – a cert of 7,000 at least, the share money and new ‘membership’ scheme and any other scam they’d like to pull (they know fans will bite and bite to the tune of £1mill plus as share issue shows - this separates them from a 'business') and with the fact outgoings can be easily neglected (‘no wages’ as seen previous, abuse of tax bill as we have now), I’d be guessing Vlad etc. will see sucking Hearts dry as the last ‘big’ pay off before complete obliteration of the UBIG universe. Factor in the big amounts of a potential sale and the securities over land and its easy to see why they’d use Hearts as their last sing song.

They wouldn’t have garnered such income in such a short period of time so easily from Kaunas, Žalgiris, The Bosnian plant, Ukio (big bucks here but collapse into Admin takes out of their hands).

But again, all guesswork/hope/assumption :agree:

[Sanger]

of sun, winding up orders, lquidation, administration and bankruptcy. And I thought it was going to be empty without the fitba!

[Hermit Crab]

of sun, winding up orders, lquidation, administration and bankruptcy. And I thought it was going to be empty without the fitba!

Do you have any info on what's going to happen to them?

[EH6 Hibby]

I'm not a financial guy and don't pretend to understand much of this. However what I am curious about is why they are hanging on so long? By them I mean Sergejus Fedotovas and his ilk. Seemed like Vlad gave up pretty quick on Kanuas, basketball team etc etc. Not to mention the aluminium plant etc. Why are they trying so hard to keep Hearts alive? What will it gain for them in realistic terms?

They don't want anyone finding out how much dirty money has been laundered through Hearts would be my guess.

[Sanger]

Do you have any info on what's going to happen to them?
I don't have a definitive order of events but some combination of all of the above!

[Mikey]

I don't have a definitive order of events but some combination of all of the above!

I wouldn't be too confident of it being sunny :everythin

[Gus Fring]

They don't want anyone finding out how much dirty money has been laundered through Hearts would be my guess.

:agree:

Hearts is to Romanov what the Car Wash is to Walter "Heisenberg" White.

Additionally, the statement on the BBC would be exactly what I would expect. They don't want to panic any other creditors

[Zazu62]

of sun, winding up orders, lquidation, administration and bankruptcy. And I thought it was going to be empty without the fitba!

Is liquidation likely? :rockin:

[Sanger]

Is liquidation likely? :rockin:

Was referring to UBIG. Administration to avoid winding up then bankruptcy.

[CropleyWasGod]

Ok, my tuppence worth.

HMRC are playing the same game that they have been playing for some time now, with great success. They know that, in the event of administration or liquidation, they will get nothing. Therefore, the "short choke-chain" of threats has been employed and, thus far, it has worked; everything that is agreed as owed by Hearts has been paid. If they are late, in goes the threat of winding-up, and back comes the money.

Every time HMRC do it, of course, may be the last. They know that, but I don't see that they have any option.

I would like to see them continuing to play the same way for the rest of the summer. It's our money, remember, so we have a vested interest in their being successful. However, we all know that there is only so much blood in a bloodied turd.

[brog]

Ok, my tuppence worth.

HMRC are playing the same game that they have been playing for some time now, with great success. They know that, in the event of administration or liquidation, they will get nothing. Therefore, the "short choke-chain" of threats has been employed and, thus far, it has worked; everything that is agreed as owed by Hearts has been paid. If they are late, in goes the threat of winding-up, and back comes the money.

Every time HMRC do it, of course, may be the last. They know that, but I don't see that they have any option.

I would like to see them continuing to play the same way for the rest of the summer. It's our money, remember, so we have a vested interest in their being successful. However, we all know that there is only so much blood in a bloodied turd.

I totally understand why HMRC are going in this direction but I think "great success " is a tad optimistic. I'm still not sure whether Yams are paying the £1.6mm penalty monthly or quarterly but at present it's unlikely more than 20/30% will have been paid. If Yams fold in summer I doubt HMRC will see any more of the balance. I'm not sure what else they can do but I think we as tax payers will be shafted again, as per Sevco..

[Hank Schrader]

:agree:

Hearts is to Romanov what the Car Wash is to Walter "Heisenberg" White.

Additionally, the statement on the BBC would be exactly what I would expect. They don't want to panic any other creditors

:top marks for the Breaking Bad reference!

[The Falcon]

Makes you wonder how Craig Whyte got away with not paying for 9 months.:wink:

I think Rangers, up until then, had been regular payers with no previous defaults. It was also HMRC that finally forced the issue at the Hun.

[lapsedhibee]

Hearts board seem to have gotten all their financial experience from playing monopoly, thus far they've been lucky with the Community Chest cards.

http://i39.tinypic.com/n1cpic.jpg

But we all know you can't rely on these to help with cashflow because whilst Hearts may be hoping for

http://i43.tinypic.com/2zoby13.jpg

They are far more likely to end up with

http://i40.tinypic.com/35lrsj4.jpg

Those Hearts cards are very badly printed. The "a" in Community Cheat looks like an "s". :tsk tsk:

[EdinMike]

Those Hearts cards are very badly printed. The "a" in Community Cheat looks like an "s". :tsk tsk:

Let the Photoshop spree begin... :greengrin

[Sergey]

I totally understand why HMRC are going in this direction but I think "great success " is a tad optimistic. I'm still not sure whether Yams are paying the £1.6mm penalty monthly or quarterly but at present it's unlikely more than 20/30% will have been paid. If Yams fold in summer I doubt HMRC will see any more of the balance. I'm not sure what else they can do but I think we as tax payers will be shafted again, as per Sevco..

B - I'm certain that the money to HMRC is being paid back monthly. IIRC - Fedotovas mentioned this at their recent AGM.

Also, other monthly outgoing monies that won't show on previous balance sheets/annual accounts is the £20k monthly repayment of the £10M unsecured UBIG debt, plus the interest payments at circa £35k.

That's a lot of money to find over and above their day-to-day operating costs.

[NadeAteMyLunch!]

What a glorious day again today. The sunshine was just an added bonus :-D

[HFC 0-7]

B - I'm certain that the money to HMRC is being paid back monthly. IIRC - Fedotovas mentioned this at their recent AGM.

Also, other monthly outgoing monies that won't show on previous balance sheets/annual accounts is the £20k monthly repayment of the £10M unsecured UBIG debt, plus the interest payments at circa £35k.

That's a lot of money to find over and above their day-to-day operating costs.

he also mentioned that hearts are self sufficient and that all the money from ST sales would go to the playing staff!!

[Hermit Crab]

I don't have a definitive order of events but some combination of all of the above!

Thanks :)

[Sergey]

I'm sure that I'm not alone in pledging to this worthy cause, but I've received one solitary email and nowt else.

Are this mob just a bunch of attention seeking charlatans or what is their exact raison d'etre? It certainly doesn't look like pooling money is of great importance.

They're going to get one hell of a shock when they finally do ask for the promised cash.

[Just Alf]

What I really love is they have a thread over on brokeback going on about signing players ...... According to our financial guru at work ( a yam no less!) he says that if the £2.5 mill deficit is true (from AGM) then with all that's happening with UKIO and UBIG their *only* hope of lasting another 6 months is to be seen to have addressed that deficit moving forward.

To have a chance of survival they need to forget about new players and off load as much "cost" as possible. If they do that then a Lith admin "might" try selling them as a going concern.

He's not hopeful :D

[Gus Fring]

I'm sure that I'm not alone in pledging to this worthy cause, but I've received one solitary email and nowt else.

Are this mob just a bunch of attention seeking charlatans or what is their exact raison d'etre? It certainly doesn't look like pooling money is of great importance.

They're going to get one hell of a shock when they finally do ask for the promised cash.

It's pointless them trying to get any money now as they won't raise anywhere near what is required. They also can't buy Hearts just now because the assets are still frozen.

A yam could win the Euromillions and offer to buy the club for £10m and they would get turned away. Way too many yams and the media overlook this very important fact frequently because it's inconvenient.

My favourite part about all of this is that the loonys running the asylum over there really haven't got the first clue about how to save Hearts. It's like watching a blind surgeon do open heart surgery on your worst enemy.

[#FromTheCapital]

It's pointless them trying to get any money now as they won't raise anywhere near what is required. They also can't buy Hearts just now because the assets are still frozen.

A yam could win the Euromillions and offer to buy the club for £10m and they would get turned away. Way too many yams and the media overlook this very important fact frequently because it's inconvenient.

My favourite part about all of this is that the loonys running the asylum over there really haven't got the first clue about how to save Hearts. It's like watching a blind surgeon do open heart surgery on your worst enemy.

If they had any sense they would of started trying to collect pledges months ago so they could build up a bit of cash to make a bid. As it stands they have the square root of **** all to make a bid when hearts can actually be bought (which will be after a 15 point deduction at the very least)

[Gus Fring]

If they had any sense they would of started trying to collect pledges months ago so they could build up a bit of cash to make a bid. As it stands they have the square root of **** all to make a bid when hearts can actually be bought (which will be after a 15 point deduction at the very least)

I reckon they know they aren't going to get anywhere near enough so don't want to collect money as they'll just have to return it all anyway. Save themselves the inevitable headache of returning pledges.

[kdhibees1]

I reckon they know they aren't going to get anywhere near enough so don't want to collect money as they'll just have to return it all anyway. Save themselves the inevitable headache of returning pledges. Stop it folks, your going to start making me well up.



















Greeting wi laughter :faf:

[IndieHibby]

It's like watching a blind surgeon do open heart surgery on your worst enemy.

I'm enjoying this simile of their situation.

PLEASING :fenlon

[CropleyWasGod]

I totally understand why HMRC are going in this direction but I think "great success " is a tad optimistic. I'm still not sure whether Yams are paying the £1.6mm penalty monthly or quarterly but at present it's unlikely more than 20/30% will have been paid. If Yams fold in summer I doubt HMRC will see any more of the balance. I'm not sure what else they can do but I think we as tax payers will be shafted again, as per Sevco..

Personally, I think HMRC have played this one just right.

[Kato]

Personally, I think HMRC have played this one just right.

I'll think the same (if they snap them in two like a small twig).

[Billy Whizz]

Heriot watt have been quiet in all of this. Have they paid their tenancy to use the facilities?

[Gus Fring]

Here's a conundrum.

UBIG are going to experience an insolvency event anytime in the next few weeks. This will trigger a 15 point penalty. If Hearts themselves enter Administration after UBIG this could feasibly trigger a further deduction (at the SPL's discretion)

However, what happens if UBIG's insolvency event happens after Hearts? It could be seen as even harsher to punish them for the parent company when the club itself is already in Admin.

What's to stop Hearts from diving feet first into Administration in an effort to try and keep some degree of control over the situation?

[CropleyWasGod]

Here's a conundrum.

UBIG are going to experience an insolvency event anytime in the next few weeks. This will trigger a 15 point penalty. If Hearts themselves enter Administration after UBIG this could feasibly trigger a further deduction (at the SPL's discretion)

However, what happens if UBIG's insolvency event happens after Hearts? It could be seen as even harsher to punish them for the parent company when the club itself is already in Admin.

What's to stop Hearts from diving feet first into Administration in an effort to try and keep some degree of control over the situation?

That's the only reason I could see them doing it. As others have said, for the moment they remain a source of income for a few individuals. Hence they are keeping things going, notwithstanding the fact that they are probably breaking the law by doing so.

[AndyM_1875]

Personally, I think HMRC have played this one just right.

I agree. Was speaking to a CA mate of mine who reckons similar and that lessons have been learned from the Rangers shambles where he reckoned HMRC made an awful lot of mistakes in their handling of.

[CropleyWasGod]

I'll think the same (if they snap them in two like a small twig).

They are like a cat with a lame mouse. Playing, nibbling, having as much fun as they can......

Until they get bored, or the mouse presents no further challenge.

[fat freddy]

:agree:

Hearts is to Romanov what the Car Wash is to Walter "Heisenberg" White.




Does that mean that Roman Romanov is Jesse Pinkman?....if so that would make Hank Schrader the Taxman and Saul would be Fedopopoulis.

[Curly1875]

Does that mean that Roman Romanov is Jesse Pinkman?....if so that would make Hank Schrader the Taxman and Saul would be Fedopopoulis.

Never thought I'd see Breaking Bad references on .net :D loving it!

[Gus Fring]

Does that mean that Roman Romanov is Jesse Pinkman?....if so that would make Hank Schrader the Taxman and Saul would be Fedopopoulis.


I'd say Roman is Skyler personally but the rest are spot on.

[CallumLaidlaw]

I'd say Roman is Skyler personally but the rest are spot on.

I was kinda hoping Hearts were Gus Fring :greengrin

[Ozyhibby]

I was kinda hoping Hearts were Gus Fring :greengrin

Your average Jambo is about as bonnie as him in his final scene.

[Onceinawhile]

I agree. Was speaking to a CA mate of mine who reckons similar and that lessons have been learned from the Rangers shambles where he reckoned HMRC made an awful lot of mistakes in their handling of.

HMRC could have forced the issue over the 'big' tax case, asked for it all in a lump sum and then put hearts out of business. They then would have got 0.00 and nothing further coming in.

As it is they've been receiving PAYE deductions and NICs for the last few months as well as some cash towards the big one. Will they get it all? Unlikely, but they've got more than they would have.

[SmashinGlass]

Your average Jambo is about as bonnie as him in his final scene.

Are you sure you're not talking about Tuco's uncle Tio Salamanca here?

[CallumLaidlaw]

Are you sure you're not talking about Tuco's uncle Tio Salamanca here?

Nah, definitely Gus.

[RoYO!]

Breaking bad spoilers in thread title? :p

[fat freddy]

I'd say Roman is Skyler personally but the rest are spot on.


Nah, Skyler is Romanovs niece..

[cam75]

Your average Jambo is about as bonnie as him in his final scene.

Don't spoil it I'm only on series 4:-)
GGTTH

[Part/Time Supporter]

A bit more detail in the Scotsman article this morning

http://www.scotsman.com/news/hearts-in-new-cash-crisis-as-100k-tax-bill-missed-1-2953713


But the delay has raised further concerns about the ongoing viability of the Gorgie outfit. Hearts are £25m in debt, with £15m owed to Ukio Bankas, who have already entered administration, and a further £10m due to parent company UBIG, who are on the brink of insolvency. With no cash assistance coming from Lithuania, they now need to find the money to pay HMRC and still ensure there is enough left in the pot to cover staff wages, which are due in less than a fortnight. And a club insider stressed that, unless season tickets sales are boosted, that might prove difficult.

...

However, while some club insiders insist Hearts are moving closer to the point where they can operate self-sufficiently, there are concerns about the immediate cash-flow situation. Admitting that they have been forced to operate on a hand-to-mouth basis since former owner Vladimir Romanov stopped ploughing money into the club two years ago, they say that they are counting the cost of the sizeable May wage bill, which included all the players’ bonuses and appearance fees, and the increased PAYE bill as a consequence. It is hoped that season-ticket sales will eventually bolster the coffers, but with no match-day income to offset outgoings, the club hierarchy are having a hard time juggling finances.

“Things will get better going forward because we have now lost some of the higher earners from the wage bill but the uncertainty over matters in Lithuania has hit us hard,” admitted a club source, who confirmed that the contracts of most of the outgoing players have now expired. “ Season-ticket sales are down on this time last year, meaning we will have to have another look at the budget for next season. I am sure we can raise the money due to HMRC within the necessary deadline and I would hope we can pay all the wages on the 16th but the honest truth is that without the fans buying more season tickets, I don’t think anyone at the club can guarantee that.”

Season-ticket sales have slumped by almost a third on last summer’s tally, leaving the club struggling to balance the books. But, with the taxman breathing down Hearts’ neck, outraged fans have demanded to know where the money has gone from tickets which have already been sold.

Some of it has already been swallowed up by last season’s deficit. While the board had warned of a projected £1.5m deficit, much of that was addressed by the share issue which raised £1.1m. But, the loss of Rangers from the SPL came after the budget had already been drawn up, resulting in a shortfall of around £300,000, which was compounded by the team’s subsequent lowly league placing. Having budgeted for a sixth-place finish, ending up in tenth left them approximately another £300,000 shy of pre-season calculations.

“Even towards the end of the season, attendances were higher than expected but there were discounted admission prices for several of those matches,” added the insider. “The fans have been brilliant and I can understand how the uncertainty has been unsettling but without more season-ticket sales now we have literally no money coming in.”

Season-ticket sales will help over the course of the campaign but it may not be the quick fix needed unless they are bought outright. A problem for the club is that many fans have subscribed to either the four-month or ten-month repayment plan with many still to pay their first instalment and several of those monthly payments as low as £30.

[greenlex]

A bit more detail in the Scotsman article this morning

http://www.scotsman.com/news/hearts-in-new-cash-crisis-as-100k-tax-bill-missed-1-2953713

Thats fairly cheered me up this morning.

[ColintonHibs]

Big team

[Mon Dieu4]

That scotsman article would suggest that £100K just got alot higher, £100k within 6 days now and who knows how high the wage bill with bonuses etc will be, Im guessing a whole lot more than £100k

The wages are due on the 16th and is that not when the Lithuanians have the bankruptcy meeting too? that means that with the assets still frozen not alot can be done

i genuinely can't see how the can get out of this

[Col2]

It's a cracker of an article. The begging bowl has just got up a level of intensity. Just wait for lots of allisbarry stories this week to convince fans to stump up. I love the last bit about many are paying as low as £30 per month instalments so no guarantee a season ticket purchase helps in short term!!!!

That's the danger of hand to mouth cash flow issues!!

[Barney McGrew]

It's pretty clear their only chance is that they punt more seasons before the seven day deadline to HMRC.

If they somehow manage that, they've got another week to find the wages money or they'll get another signing ban from the SFA/SPL.

And if they somehow manage to pay that, how are they going to pay July's wages with no income?

[poolman]

Increased PAYE bill :confused:

PAYE is not a bill

[1two]

"I can't see them getting out of this one" is the most over-used phrase on hibs.net

[ScottB]

They speak like May's extra expense was a surprise to them, which wouldn't be a surprise in the grand scheme of their mess.

Probably was a big bill though, I recall when they were struggling to pay their players that they stated all bonus money wouldn't be paid till seasons end, so assuming they coughed up the lot it could well have emptied their biscuit tin.

As they are behind on their tax payments, surely that means a transfer ban should be put in place now?

[patch1875]

It's looking grim for them,spending season ticket money on debt what does that leave them to survive on. All they will have left is match day income....shame:greengrin

[PapillonVert]

It's pretty clear their only chance is that they punt more seasons before the seven day deadline to HMRC.

If they somehow manage that, they've got another week to find the wages money or they'll get another signing ban from the SFA/SPL.

And if they somehow manage to pay that, how are they going to pay July's wages with no income?

Not forgetting the next instalment of PAYE/NIC which will be due from the June payroll.

The ovens are going to be working overtime in the Great Jambo Summer Bake-off.

[Www1875hfc]

Big team

BIG debt......Massive disappointment ......

[easty]

"I can't see them getting out of this one" is the most over-used phrase on hibs.net

Aye, that or 'spoony has the heart of a mouse'...not really sure how that one came about, but it's definitely stuck.

[bingo70]

The SPL have got to be asking questions now? Seems certain we're going to have another summer like last year.

[Barman Stanton]

A bit more detail in the Scotsman article this morning

http://www.scotsman.com/news/hearts-in-new-cash-crisis-as-100k-tax-bill-missed-1-2953713

They are admitting that they can't guarantee to pay wages on that interview. Dont the SPL need confirmation that wages will be paid?

[YehButNoBut]

How many times can they pass the begging bowl round the most gullible fans in football.

If they had any backbone they would have kicked Romanov Jr & Fedotovas all the way back to Lithuania, how they let these 2 have anything to do with their club anymore is unbelievable.


Funny for us Hibees though. :yw:

[EdinMike]

The SPL have got to be asking questions now? Seems certain we're going to have another summer like last year.

Good, hope we do. Bunch of incompetent muppets. And not dealing with this fiasco which anyone with some sort of intelligence saw coming, they might be punted !

[Mikey]

Didn't we come to the conclusion that this HMRC payment is a monthly event, and if they're struggling to pay this one how on earth are they going to stump up for the next one?

And..... I haven't had a look over the road, but as the source is a "club insider" they'll just dismiss it as anti Hearts propaganda.

[YehButNoBut]

They have obviously spent all the season ticket money collected so far so have nothing left to pay for this tax bill & wages in June, July & August unless they get more season tickets sold.

Think those who have not re-newed their season ticket are worried the money disappears down some black hole, there is no way out of this for them it's just a case of when not if they go t*t's up.

[brydekirk]

Come the 17th june they should be relagated and made to ground share wi Livi.
If they can afford it, that is.

[Mikey]

Come the 17th june they should be relagated and made to ground share wi Livi.
If they can afford it, that is.

They certainly shouldn't be allowed to start the SPL season if the other 11 teams don't think they can complete it.

There's no point in asking Hearts for assurances as they'll just lie.

[God Petrie]

What a farce. They can't keep expecting us to help pay the tax man. Pinilla owes us big time, can he not give us £100k?

Kickback is pretty great at the moment.

[#FromTheCapital]

How many times can they pass the begging bowl round the most gullible fans in football.

If they had any backbone they would have kicked Romanov Jr & Fedotovas all the way back to Lithuania, how they let these 2 have anything to do with their club anymore is unbelievable.


Funny for us Hibees though. :yw:

The time for them to do this would of been years ago, but they opted to take it up the ass enjoying small success along the way (although nowhere near as much as the money should/could of brought them). Now they have no option but to sit back and watch events unfold, chucking in their spare pocket money in every now and then to keep the charade going a little while longer. This is payback... **** the Hearts

[Peevemor]

They have obviously spent all the season ticket money collected so far so have nothing left to pay for this tax bill & wages in June, July & August unless they get more season tickets sold.

Think those who have not re-newed their season ticket are worried the money disappears down some black hole, there is no way out of this for them it's just a case of when not if they go t*t's up.

They're saying that the problem is that they haven't received all the ST money due to people paying in installments. This is unusual given that the finance company would ordinarily pay the club the full amount for each ticket sold then in turn recover the money (hence finance charges).

Either Hearts are telling porkies (again) or the finace company, worried that Hearts are going to go tits up (and people stop paying their installments), have shifted the goalposts.

[God Petrie]

Read the thread over there about this latest tax bill - they're arguing about the legacy of 5-1. They're close but the penny hasn't quite fully dropped. Hehe.

[Craig_in_Prague]

They certainly shouldn't be allowed to start the SPL season if the other 11 teams don't think they can complete it.

There's no point in asking Hearts for assurances as they'll just lie.

They still keep throwing in the "we are nearing being self sufficient" line, Yet, there are immediate payments due and late - and they admit they are living basically month to month.

Clearly the directors are trying to milk them for as much as they can until the game is over. Good for HMRC and good for them, I guess. The cash looks like it will completely dry up though and if they make the start of the season without administration I will be really surprised.
It's sad enough there was no toys under xmas trees down gorgie way last year, now the poor wee lambs won't have a summer holiday :-(

Pleasing.

[green glory]

If, and it's a big if, they make it to next season. I'm very much looking forward to Hibs making a mockery of them on the park.

[#FromTheCapital]

SPL investigating Wilson transfer according to the Daily ****** http://www.dailyrecord.co.uk/sport/football/football-transfer-news/spl-investigating-hearts-move-danny-1932465

[7062]

As somebody previously touched on. Should they not be deducting PAYE/NI from the gross wage amounts and just giving it to the tax man? Does 'getting hit with a bill' suggest they're spending the PAYE money on other things?

(Might be a daft question.)

[Kato]

Read the thread over there about this latest tax bill - they're arguing about the legacy of 5-1. They're close but the penny hasn't quite fully dropped. Hehe.

They don't have a penny.

[#FromTheCapital]

Read the thread over there about this latest tax bill - they're arguing about the legacy of 5-1. They're close but the penny hasn't quite fully dropped. Hehe.

Hilarious, they can't seem to get their heads around the fact that the 5-1 game is directly related to this mess their in.

[Caversham Green]

As somebody previously touched on. Should they not be deducting PAYE/NI from the gross wage amounts and just giving it to the tax man? Does 'getting hit with a bill' suggest they're spending the PAYE money on other things?

(Might be a daft question.)

You're right, they wouldn't usually get a 'bill' for PAYE, they would calculate the amount themselves and pay the money over - which should be a routine part of their budget. There are a few odd things about this story though, I've already mentioned the due date for PAYE being the 19th/22nd of the month, not the 3rd as is being stated in the press and if the amount really includes bonuses for the season, £100,000 seems very low to me.

Something's not right but as always with that lot we're not getting the full picture.

[HIBERNIAN-0762]

What a farce. They can't keep expecting us to help pay the tax man. Pinilla owes us big time, can he not give us £100k?

Kickback is pretty great at the moment.

I might be mistaken but I have the feeling the penny is dropping (very slowly mind you) with them over there, of course we all know about their plight but it really makes me laugh when they start quoting "that" game, wee team, hobbos, 1902 and all that guff, it seems that rather than get off they're arrogant lazy butts and do something about it they hide behind these silly quotes.

Very strange set of people I must say.

[greenginger]

You're right, they wouldn't usually get a 'bill' for PAYE, they would calculate the amount themselves and pay the money over - which should be a routine part of their budget. There are a few odd things about this story though, I've already mentioned the due date for PAYE being the 19th/22nd of the month, not the 3rd as is being stated in the press and if the amount really includes bonuses for the season, £100,000 seems very low to me.

Something's not right but as always with that lot we're not getting the full picture.


May'be they did their return and paid an " amount " but thought they could get away with skimming the £ 100K off the top and make it up in later months ( never works )

Unfortunately for them Hector decides to do a spot check and finds the short payment and demands his cash.

Of course it might all be part of an advertising ploy to promote Wonga ! :greengrin

[Geo_1875]

SPL investigating Wilson transfer according to the Daily ****** http://www.dailyrecord.co.uk/sport/football/football-transfer-news/spl-investigating-hearts-move-danny-1932465

"Wilson was paraded last week after leaving Liverpool and the 21-year-old admitted he sought assurances from the Hearts hierarchy over the club’s financial future before penning a deal.

Just over a week later it has, however, emerged there are fresh concerns the club could enter administration over the unpaid tax bill."

I can't believe they would have lied to him.

[Diclonius]

"Wilson was paraded last week after leaving Liverpool and the 21-year-old admitted he sought assurances from the Hearts hierarchy over the club’s financial future before penning a deal.

Just over a week later it has, however, emerged there are fresh concerns the club could enter administration over the unpaid tax bill."

I can't believe they would have lied to him.

Could he have the right to cancel the contract himself then?

[JimBHibees]

They're saying that the problem is that they haven't received all the ST money due to people paying in installments. This is unusual given that the finance company would ordinarily pay the club the full amount for each ticket sold then in turn recover the money (hence finance charges).

Either Hearts are telling porkies (again) or the finace company, worried that Hearts are going to go tits up (and people stop paying their installments), have shifted the goalposts.

Incredible that it seemed to say that some hadnt paid their first installment yet?

[Hermit Crab]

I take it they won't be signing goodwillie, Boyd or Wotherspoon then.............:D

[Part/Time Supporter]

May'be they did their return and paid an " amount " but thought they could get away with skimming the £ 100K off the top and make it up in later months ( never works )

Unfortunately for them Hector decides to do a spot check and finds the short payment and demands his cash.

Of course it might all be part of an advertising ploy to promote Wonga ! :greengrin

Nah, because they need to report amounts due and paid to the SPL, and HMRC would have not given them any leeway if they were brazenly trying to scam them. I'm sticking by my "MSM muddling up PAYE and VAT" theory.

[DC_Hibs]

"Wilson was paraded last week after leaving Liverpool and the 21-year-old admitted he sought assurances from the Hearts hierarchy over the club’s financial future before penning a deal.

Just over a week later it has, however, emerged there are fresh concerns the club could enter administration over the unpaid tax bill."

I can't believe they would have lied to him.

The Wilson "deal" would have been designed to continue the charade of business as usual in the hope that season ticket sales would rise as that's their only means of scraping by week to week.

I've no idea if they are raising enough to filter off some to the land of the Liths or its simply to cover the Lith's salaries but they are simply delaying the inevitable and if they are struggling now, they have no chance of fulfilling their obligations for 2013/14.

[JimBHibees]

You're right, they wouldn't usually get a 'bill' for PAYE, they would calculate the amount themselves and pay the money over - which should be a routine part of their budget. There are a few odd things about this story though, I've already mentioned the due date for PAYE being the 19th/22nd of the month, not the 3rd as is being stated in the press and if the amount really includes bonuses for the season, £100,000 seems very low to me.

Something's not right but as always with that lot we're not getting the full picture.

I dont know they didnt win many games. :greengrin

[green glory]

Poor old Vlad.

http://www.lithuaniatribune.com/40166/the-international-search-for-ex-head-of-ukio-bankas-may-be-announced-201340166/

[brog]

A bit more detail in the Scotsman article this morning

http://www.scotsman.com/news/hearts-in-new-cash-crisis-as-100k-tax-bill-missed-1-2953713

Great article, just a few thoughts.
1. Yams are "moving closer to being self sufficient". Again this contradicts the many statements previously that they are now self sufficient & I believe they gave that assurance to SPL at time of UBIG "non" liquidation.
2. As other posters have pointed out PAYE is a deduction from salaries due to HMRC. By using this money to pay other bills its effectively what was known as a "teeming & lading" fraud, or more correctly, theft!
3. The DR article today says "previously & without any help from Lithuania Hearts managed to deal with the issue". Presumably the Lith owners floating a share issue which raised £1mm doesn't count as help? The shares of course are like Brian Kerr, invisible but doing great work!

IMO the SPL must be close to acting now. The last thing they want is to have to throw Yams out after season plans, inc fixtures have been made. I think their comments re the DW transfer are first clear signs of discontent.

[CropleyWasGod]

Nah, because they need to report amounts due and paid to the SPL, and HMRC would have not given them any leeway if they were brazenly trying to scam them. I'm sticking by my "MSM muddling up PAYE and VAT" theory.

Wouldn't work with VAT either. It's payable by the 7th these days.

My theory is that it was "something" that was due by the 1st of the month. The 1st was Saturday, hence the first business day was Monday.

Other than that, I am scoobied.

[brog]

Poor old Vlad.

http://www.lithuaniatribune.com/40166/the-international-search-for-ex-head-of-ukio-bankas-may-be-announced-201340166/
I see his stroke has now turned into a heart attack, I think Vlad's pulled another stroke was lost in translation!

[CropleyWasGod]

Could he have the right to cancel the contract himself then?

What contract? He can only sign for Hearts when his current deal with Liverpool ends.

[s.a.m]

The people who know about these things have pointed out that knowingly trading while insolvent is an offence. Is there a point when somebody decides that this is happening? If so, who would the 'somebody' be, and what would be the catalyst for this, and the process?

[#FromTheCapital]

Poor old Vlad.

http://www.lithuaniatribune.com/40166/the-international-search-for-ex-head-of-ukio-bankas-may-be-announced-201340166/

"Romanov’s spokesperson informed that Romanov suffered from a heart attack in Moscow and was in hospital."

Thought it was meant to be a stroke he suffered from?

Hope they catch up with 'Mr Romanov' soon, I think it'll be very interesting to hear exactly what went on with him over the years. Crook

[Dashing Bob S]

Astonishing to conceive of a club being in such a financial mess that the SPL/SFA are even contemplating the need to take action.

[CropleyWasGod]

The people who know about these things have pointed out that knowingly trading while insolvent is an offence. Is there a point when somebody decides that this is happening? If so, who would the 'somebody' be, and what would be the catalyst for this, and the process?

It's normally the administrator or liquidator who starts that process.

It can be difficult to establish exactly when a company becomes insolvent, and can sometimes only be judged in hindsight. Hence why someone with a fresh eye is often best placed to make the call.

[greenginger]

I see his stroke has now turned into a heart attack, I think Vlad's pulled another stroke was lost in translation!


We might have seen the last ever Heart attack !:greengrin

[Part/Time Supporter]

Wouldn't work with VAT either. It's payable by the 7th these days.

My theory is that it was "something" that was due by the 1st of the month. The 1st was Saturday, hence the first business day was Monday.

Other than that, I am scoobied.

http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageVAT_ShowContent&id=HMCE_CL_000083&propertyType=document#P62_4516

As a business with turnover >£2.3M, Hearts will be paying VAT under payments on account.


The due dates for payments on account are the last working day of the second and third months of every VAT quarterly period, regardless of your period end dates - we will send you a payment schedule listing all your payment dates. If you are in POA, and submit quarterly returns, you will not get the seven extra days to pay and submit your VAT return, as described on the How to Pay VAT page on our website.

My understanding from that is that their VAT payment will be due by each month end (31 May in this case). HMRC give businesses who are not in the POA scheme seven days grace to pay VAT* - they seem to have given Hearts that advantage in this case as well. I suspect Hearts will have phoned up HMRC last Friday (31st) to tell them they wouldn't get the money (hence the "we are in dialogue with HMRC" spin yesterday) and HMRC have told them "okay, but if we don't get the money next week we will take court action" (ie if they don't pay before the weekend HMRC will file papers on Monday).

*This is a legacy of shifting from submitting VAT returns on paper and paying by cheque to submitting returns online and paying electronically.

[s.a.m]

It's normally the administrator or liquidator who starts that process.

It can be difficult to establish exactly when a company becomes insolvent, and can sometimes only be judged in hindsight. Hence why someone with a fresh eye is often best placed to make the call.

Thanks.

[21.05.2016]

Hilarious, they can't seem to get their heads around the fact that the 5-1 game is directly related to this mess their in.

Oh god are they STILL hiding behind 5-1. When are those morons going to wake up and smell the coffee and realise their club is up **** creek and to have 5-1 they had to cripple themselves. Let them sing 5-1 all they like, it can't save them now.

[scott7_0(Prague)]

Thought it was time to introduce #allisbarry

10075

[Hibbyradge]

Thought it was time to introduce #allisbarry

10075

Oh, you kickbacker, you... :wink:

[scott7_0(Prague)]

Oh, you kickbacker, you... :wink:

Lurker i prefer to be called. Kickbacker is just pure dirty.

[Ozyhibby]

With Vlad on the run there is no way they will sort out the Ukio or Ubig admin quickly. When Hearts go under it could be years before a new club could be set up, if at all. This won't be like Sevco at all.

[Saorsa]

Astonishing to conceive of a club being in such a financial mess that the SPL/SFA are even contemplating the need to take action.Come on now Bob, inaction is exactly what I would expect for these incompetents.

[CropleyWasGod]

http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageVAT_ShowContent&id=HMCE_CL_000083&propertyType=document#P62_4516

As a business with turnover >£2.3M, Hearts will be paying VAT under payments on account.



My understanding from that is that their VAT payment will be due by each month end (31 May in this case). HMRC give businesses who are not in the POA scheme seven days grace to pay VAT* - they seem to have given Hearts that advantage in this case as well. I suspect Hearts will have phoned up HMRC last Friday (31st) to tell them they wouldn't get the money (hence the "we are in dialogue with HMRC" spin yesterday) and HMRC have told them "okay, but if we don't get the money next week we will take court action" (ie if they don't pay before the weekend HMRC will file papers on Monday).

*This is a legacy of shifting from submitting VAT returns on paper and paying by cheque to submitting returns online and paying electronically.

Yeah, my reply was a bit sloppy. In effect, everyone gets that extra 7 days before any action is taken.

Rips my knitting, that change, by the way. I much prefer the "end of the month" system.

[Gus Fring]

My source tells me the SPL is indeed keeping an eye on this situation closely. As with the points deduction though they can't act until the SPL rules have been broken beyond doubt, which hasn't happened yet unfortunately. Any punishment the SPL dish out under the current circumstances would be turned over almost immediately in court.

[Saorsa]

My source tells me the SPL is indeed keeping an eye on this situation closely. As with the points deduction though they can't act until the SPL rules have been broken beyond doubt, which hasn't happened yet unfortunately. Any punishment the SPL dish out under the current circumstances would be turned over almost immediately in court.Is this latest tax default not a breach of their rules? :dunno: I thought P.A.Y.E and VAT had tae be paid on time :dunno:

[Part/Time Supporter]

My source tells me the SPL is indeed keeping an eye on this situation closely. As with the points deduction though they can't act until the SPL rules have been broken beyond doubt, which hasn't happened yet unfortunately. Any punishment the SPL dish out under the current circumstances would be turned over almost immediately in court.

Again, I suspect this is because the late payment is for VAT (which is not covered by SPL rules), rather than PAYE (which is).

[CropleyWasGod]

Is this latest tax default not a breach of their rules? :dunno: I thought P.A.Y.E and VAT had tae be paid on time :dunno:

Not sure that VAT is included.

Someone tell me I'm wrong :greengrin

[hibs0666]

My source tells me the SPL is indeed keeping an eye on this situation closely. As with the points deduction though they can't act until the SPL rules have been broken beyond doubt, which hasn't happened yet unfortunately. Any punishment the SPL dish out under the current circumstances would be turned over almost immediately in court.

I think that SPL clubs now have to report tax breaches within 3 days, and that period is now up. The yaks can hardly not report it, as it's already in the public domain. If it all works to plan there will be a transfer embargo within a few days.

[Saorsa]

Again, I suspect this is because the late payment is for VAT (which is not covered by SPL rules), rather than PAYE (which is).answers my question if it is :aok:


There must be something they can nail them for :grr:

[Beefster]

Again, I suspect this is because the late payment is for VAT (which is not covered by SPL rules), rather than PAYE (which is).

Which sums up the SPL in a sentence. A club gets in **** for not paying their PAYE so the SPL introduces rules to ensure clubs pay their PAYE rather than rules to ensure that they pay all their tax.

[Geo_1875]

My source tells me the SPL is indeed keeping an eye on this situation closely. As with the points deduction though they can't act until the SPL rules have been broken beyond doubt, which hasn't happened yet unfortunately. Any punishment the SPL dish out under the current circumstances would be turned over almost immediately in court.

It's ridiculous that they can be allowed to stumble along from crisis to crisis, bringing disrepute on the SPL and in danger of putting next season into chaos. We can only hope that they will be hit with every sanction available to the authorities (both sporting and legal) when the **** hits the fan. I think the SPL will think that they must be seen to be doing every thing above board but when it throws the plans of the other clubs into disarray it does nobody any favours. Surely they must be able to ask hertz to put a viable plan in front of them or tell them to get tae ****.