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View Full Version : NHC Football club wound up over unpaid tax


MB62
08-09-2010, 02:11 PM
http://www.bbc.co.uk/news/uk-england-derbyshire-11231856

Could this be a precedent for some so called bigger clubs to go down the same way?
HibeeB
08-09-2010, 02:17 PM
"After a two-minute hearing, court registrar Christine Derrett sealed the club's fate when she said: "I'm sorry, the company is plainly insolvent and I therefore make the final compulsory order."

What does insolvent mean? When your expenditure is more than your income?



It'll never happen to the big club. The mad one will pay any outstanding tax bill, simply because Hertz interest payments far exceed any potential tax bill.
LancashireHibby
08-09-2010, 02:47 PM
What does insolvent mean? When your expenditure is more than your income?

Yes, basically. Big surprise really as Ilkeston seemed a nice club with a busy social club etc that provides a lot of income for clubs at that level when I went there with Leigh the other year, but I think it comes down to thinking you can get away with not paying the taxman and using that extra money to tempt new players etc.
robinp
08-09-2010, 03:13 PM
"After a two-minute hearing, court registrar Christine Derrett sealed the club's fate when she said: "I'm sorry, the company is plainly insolvent and I therefore make the final compulsory order."

What does insolvent mean? When your expenditure is more than your income?



It'll never happen to the big club. The mad one will pay any outstanding tax bill, simply because Hertz interest payments far exceed any potential tax bill.

If a person or a company's Assets are insufficient to pay their Liabilities.
HibeeB
08-09-2010, 03:28 PM
If a person or a company's Assets are insufficient to pay their Liabilities.

Ah, see that's different.


What assets do Hertz have? Is tiny not owned by Ukio or UBIG after the debt for equity thingy?

Of course, they do have Andrew Driver, Lee Wallace and Kevin Kyle :lolyam:
grunt
08-09-2010, 03:54 PM
Hearts are technically insolvent, as their liabilities exceed their assets. The difference with them is that the people they owe money to (UBIG, is it?) are not demanding that it be paid. So they can carry on as long as UBIG (Vlad) don't ask for their money back.

In the case of Ilkeston, HMRC demanded to be paid, and the club couldn't pay them.
blairwallace
08-09-2010, 04:04 PM
:brokenyam::lolyam:
hibeeleicester
08-09-2010, 04:31 PM
Was supposed to be playing them tonight aswell!
LancashireHibby
08-09-2010, 09:06 PM
Was supposed to be playing them tonight aswell!

Their academy game was going ahead as planned, wasn't it? Wouldn't surprise if it was funded separately to the senior section, to be honest.
hibeeleicester
08-09-2010, 10:08 PM
Their academy game was going ahead as planned, wasn't it? Wouldn't surprise if it was funded separately to the senior section, to be honest.

Not long back, they didnt play at their ground. Played at hinckleys.
LancashireHibby
09-09-2010, 12:09 PM
Not long back, they didnt play at their ground. Played at hinckleys.

Would have thought that might have had more to do with Ilkeston groundsharing with Worksop last season though to avoid too many teams playing on the same pitch?