Share Transfers Agreed/Cooling off period

The previous post is very pleasing.

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Originally Posted by Bajillions

Spoken to my source again

Budge has paid attention to whats happening at Rangers and doesn't want a repeat. They will not be continuing to run Hearts as an SPL business. She's been seeking counsel from many people and wants to secure the long term viability of the club. She can't afford to run it long term and she needs to flip it to the FOH rather quickly. "Budgets will be tight and every penny will be managed" he said.

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She could afford it, she has over £40 million: just not prepare to sp_nk it all away on that lot.

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Originally Posted by Weststandwanab

The previous post is very pleasing.

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The previous post is also very pleasing.

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Originally Posted by ehf

She could afford it, she has over £40 million: just not prepare to sp_nk it all away on that lot.

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She's allegedly worth £40m, whether she has £40m it is a different matter. I think the point he was trying to make is if they keep losing money the way they have been her fortune will be gone in less than a decade.

Beautiful stuff. I'm thinking that a Budge-run, then FOH-bought Hearts in the championship would be a highly acceptable alternative to liquidation. Sadly, it isn't gonna happen.

Fixed it for you! :cb

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Originally Posted by Bajillions

Spoken to my source again

They are still in limbo. He says staff are frustrated as they would normally have started planning for next season but have been told not to do so until BIDCO take over. A lot of "Good Hearts People" are worried they won't be kept on after budge is in the door as the impression being given is that this will be a brand new regime with a top to bottom shake up.

Budge has paid attention to whats happening at Rangers and doesn't want a repeat. They will not be continuing to run Hearts as an SPL business. She's been seeking counsel from many people and wants to secure the long term viability of the club. She can't afford to run it long term and she needs to flip it to the FOH rather quickly. "Budgets will be tight and every penny will be managed" he said.

I asked him about running out of money and he said the last he heard there still wasn't enough to make it to the end of the season. They need the derby to sell out at both ends because if it doesn't that's another major source of revenue done. "Getting to the cup final could have removed any doubt"

Lastly he said the staff have been warned that Liquidation is still a very real possibility. Jackson (who is not my source, never has been) hasn't given them a timescale but that the staff feel like the off-season will be when it happens. Last year was manic during that period and they were selling Season Tickets. Costs have been reduced since then but after the last game of the season they have no money coming in.

Message to Kickback: If you could maybe link to this post instead of copying and pasting it, that would be swell. We'd rather have the hits over here allowing us to help the Hibs youth setup rather than you lot nicking the info and robbing the kids as well!.
Just paste this instead of the post. I've done the hard work for you

http://www.hibs.net/showthread.php?1...=1#post3927720

Cheers pals :aok:

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Quote:

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Originally Posted by Bajillions

She's allegedly worth £40m, whether she has £40m it is a different matter. I think the point he was trying to make is if they keep losing money the way they have been her fortune will be gone in less than a decade.

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A test of her financial resolve could be if she's asked to stump-up some of her hard-earned without the security of the PBS to fall back on.

If the PBS does have to get auctioned off, will she be willing to pay market value?

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Originally Posted by Bajillions

Spoken to my source again

They are still in limbo. He says staff are frustrated as they would normally have started planning for next season but have been told not to do so until BIDCO take over. A lot of "Good Hearts People" are worried they won't be kept on after budge is in the door as the impression being given is that this will be a brand new regime with a top to bottom shake up.

Budge has paid attention to whats happening at Rangers and doesn't want a repeat. They will not be continuing to run Hearts as an SPL business. She's been seeking counsel from many people and wants to secure the long term viability of the club. She can't afford to run it long term and she needs to flip it to the FOH rather quickly. "Budgets will be tight and every penny will be managed" he said.

I asked him about running out of money and he said the last he heard there still wasn't enough to make it to the end of the season. They need the derby to sell out at both ends because if it doesn't that's another major source of revenue done. "Getting to the cup final could have removed any doubt"

Lastly he said the staff have been warned that Liquidation is still a very real possibility. Jackson (who is not my source, never has been) hasn't given them a timescale but that the staff feel like the off-season will be when it happens. Last year was manic during that period and they were selling Season Tickets. Costs have been reduced since then but after the last game of the season they have no money coming in.

Message to Kickback: If you could maybe link to this post instead of copying and pasting it, that would be swell. We'd rather have the hits over here allowing us to help the Hibs youth setup rather than you lot nicking the info and robbing the kids.
Just paste this instead of the post. I've done the hard work for you

http://www.hibs.net/showthread.php?1...=1#post3927720

Cheers pals :aok:

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I hope that includes her wardrobe as some of the outfits she wore in those recent media pictures are absolutely honking.

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Originally Posted by Bajillions

She's allegedly worth £40m, whether she has £40m it is a different matter. I think the point he was trying to make is if they keep losing money the way they have been her fortune will be gone in less than a decade.

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Her company was sold for £40m. She didn't own 100% of that company. If she is worth £40m now she made some sound investments while everybody else lost money.

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Originally Posted by GreenLake

I hope that includes her wardrobe as some of the outfits she wore in those recent media pictures are absolutely honking.

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Auld purple pants

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Originally Posted by Geo_1875

Her company was sold for £40m. She didn't own 100% of that company. If she is worth £40m now she made some sound investments while everybody else lost money.

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This.

It's the papers that are saying she's worth £40m. The same papers who said Hearts were self sufficient.

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Originally Posted by GreenLake

I hope that includes her wardrobe as some of the outfits she wore in those recent media pictures are absolutely honking.

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Hibs.net's first foray into the world of old ladies fashions?
Don't think I'll be able to contribute much on this issue.
:-)

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Originally Posted by HUTCHYHIBBY

Judging by the origins of this thread naebody else saw it coming right enough.

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And remember this thread followed a myriad of similar threads that went before ... probably back to the day the Pee'r of the Relm, Lord Foulkes, begged the simpletons to sell out to the oligarch Vlad but having seen his track record we rubbed our collective Hibby chins and thought out loud "this is going to end in tears".

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Originally Posted by Bajillions

This.

It's the papers that are saying she's worth £40m. The same papers who said Hearts were self sufficient.

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http://www.scotsman.com/business/med...sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!!

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Originally Posted by Ozyhibby

Hibs.net's first foray into the world of old ladies fashions?
Don't think I'll be able to contribute much on this issue.
:-)

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There have been plenty of posts about Foulkes humid attire! :greengrin

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Originally Posted by Platinum Scotty

http://www.scotsman.com/business/med...sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!!

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What is the capital gains tax rate in the UK these days?

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Originally Posted by Platinum Scotty

http://www.scotsman.com/business/med...sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!!

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Watch the amount she`s worth drop, as FoH and BDO realise it`s not in their best interests to let the Liths think she`s worth a fortune..

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Originally Posted by Platinum Scotty

http://www.scotsman.com/business/med...sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!!

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Maybe I'm missing something but would she not have paid tax on the 26 million at ... 40% plus!!so it maybe 15 million?? Minus what she has spent,,,unless of course she learned some nice avoidance tricks:greengrin

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Originally Posted by Russian Hibs

Maybe I'm missing something but would she not have paid tax on the 26 million at ... 40% plus!!so it maybe 15 million?? Minus what she has spent,,,unless of course she learned some nice avoidance tricks:greengrin

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18% capital gains tax

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Originally Posted by Bajillions

She's allegedly worth £40m, whether she has £40m it is a different matter. I think the point he was trying to make is if they keep losing money the way they have been her fortune will be gone in less than a decade.

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this:agree:

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Originally Posted by Russian Hibs

Maybe I'm missing something but would she not have paid tax on the 26 million at ... 40% plus!!so it maybe 15 million?? Minus what she has spent,,,unless of course she learned some nice avoidance tricks:greengrin

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Minus what she has spent ? well it wisnae on her clothes that's for sure, maybe she does the charity shops in stockbridge !.

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Originally Posted by Ozyhibby

18% capital gains tax

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28% for higher rate tax payer.

Though it depends on when she sold as the rate used to be 40% until 2010 though gains could be reduced due to timescales. Now it is a straight percentage of the gain at 18% or 28% depending on the persons tax rate after the annual allowance has been used up.

A good tax accountant would be able to reduce the tax significantly though their bills are usually very high. Aren't they CWG?

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Originally Posted by Platinum Scotty

http://www.scotsman.com/business/med...sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!!

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And she's managed to avoid captal gains tax on her shares...
course, maybe she's rolled the gains over and the Yams are set to be a lossmaker to reduce her tax liability.

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Originally Posted by ehf

She could afford it, she has over £40 million: just not prepare to sp_nk it all away on that lot.

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She is not worth £40m.

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Originally Posted by Bajillions

She's allegedly worth £40m, whether she has £40m it is a different matter. I think the point he was trying to make is if they keep losing money the way they have been her fortune will be gone in less than a decade.

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Allegedly is the operative word.

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Originally Posted by Geo_1875

Her company was sold for £40m. She didn't own 100% of that company. If she is worth £40m now she made some sound investments while everybody else lost money.

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She did not own all The Company, she borrowed funds from a bank to buy some of her shares which will have been repaid, Capital Gains Tax will have been paid on the gain which will have been most of the sale price, legal and professional fees will have been paid on the contract all this means she will have been worth nowhere near £40m

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Originally Posted by Platinum Scotty

http://www.scotsman.com/business/med...sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!!

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See my previous post.

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Originally Posted by GreenLake

What is the capital gains tax rate in the UK these days?

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It would depend on which fiscal year the Company was sold.

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Originally Posted by Russian Hibs

Maybe I'm missing something but would she not have paid tax on the 26 million at ... 40% plus!!so it maybe 15 million?? Minus what she has spent,,,unless of course she learned some nice avoidance tricks:greengrin

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No she would not.

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Originally Posted by Ozyhibby

18% capital gains tax

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Not quite that simply but you are probably not far wrong.

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Originally Posted by PatHead

28% for higher rate tax payer.

Though it depends on when she sold as the rate used to be 40% until 2010 though gains could be reduced due to timescales. Now it is a straight percentage of the gain at 18% or 28% depending on the persons tax rate after the annual allowance has been used up.

A good tax accountant would be able to reduce the tax significantly though their bills are usually very high. Aren't they CWG?

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Couldn't tell you about the good ones ;-)

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Originally Posted by PatHead

28% for higher rate tax payer.

Though it depends on when she sold as the rate used to be 40% until 2010 though gains could be reduced due to timescales. Now it is a straight percentage of the gain at 18% or 28% depending on the persons tax rate after the annual allowance has been used up.

A good tax accountant would be able to reduce the tax significantly though their bills are usually very high. Aren't they CWG?

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Worse here in California at 13.3% on top of 20% Federal comes to 33.3%.

Their biggest threat is time as they do have the funds (sadly) to see out the season.

It is never a good feeling trying to beat the clock .. especially when you have no idea how much time there is on the clock.

Tick Tock alright :thumbsup:

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Originally Posted by Bajillions

This.

It's the papers that are saying she's worth £40m. The same papers who said Hearts were self sufficient.

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Sure it's £25m she's worth

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Originally Posted by GloryGlory

And she's managed to avoid captal gains tax on her shares...
course, maybe she's rolled the gains over and the Yams are set to be a lossmaker to reduce her tax liability.

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To rollover all of the gain the entire net proceed price of the shares would have to be reinvested in qualifying assets within three years of the effective date of sale of the assets looking to be rolled over. Roughly speaking.

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Originally Posted by Platinum Scotty

http://www.scotsman.com/business/med...sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!!

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The house she bought last year would be £ 2.5 million minimum, also the Bentley and the Porche, and a large wedge into her pension fund.

She will still be well off, but nowhere near the level required to squander millions on a football club and not feel the pain.