Share Transfers Agreed/Cooling off period

[edinburghhibee]

As much as I love winding them up about going bust I would prefer if they stayed alive but are the type of team who flutter between bottom SPL and middle of 1st division.

I love the Derbys and I have some good friends and family who are decent yams. They understand the position hearts are in and they knew this day would come but there was little they could do to stop it.

Man city, Chelsea, PSG, anzi and Malaga will all go the same way one day I believe. these teams can't justify the amount they are throwing at the player, agents and management.

[marti1875]

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Sorry if already posted, but I'm still trying to pick myself off the floor ....Peter Enckelman
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Oh my aching sides watching that....completely cringeworthy and so cheap...but friggin' hilarious at the same time....

[CyberSauzee]

Hearts receive winding-up order over unpaid PAYE and VAT

http://www.bbc.co.uk/sport/0/football/20241385

[#FromTheCapital]

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Wouldn't a large meteor smashing into the earth affect Hibs as well?

Ok smart arse I'd like them to be extinct
A meteor crashing to earth would only benefit hearts because of the free stadium improvements

[CB_NO3]

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Sorry if already posted, but I'm still trying to pick myself off the floor ....Peter Enckelman
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Hahahahahahahahahahahaha. Fat Robbo at the end is priceless. 3 times I have watched it now. Tidy bunch of players I must say.

[Squealing pig]

Today is great never been so happy to see the maroon shirt dying. Just hope we get to pump them twice before the coffin is nailed.

[Kato]

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Ok smart arse I'd like them to be extinct
A meteor crashing to earth would only benefit hearts because of the free stadium improvements

[blackpoolhibs]

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http://local.stv.tv/edinburgh/198880...paid-tax-bill/ Heart of Midlothian FC faces a winding up order from HM Revenue and Customs over an unpaid tax bill.

The tax authority presented a petition to the Court of Session in Edinburgh to place the SPL club into liquidation earlier this month.

It is understood that the Tynecastle club is facing the action from HMRC over unpaid PAYE and National Insurance dating back several months, which is separate from their ongoing troubles with the tax authority.

The latest dispute with the tax authority comes as Hearts are challenging a £1.75m bill at the First Tier Tax Tribunal relating to players loaned to the club by Lithuanian club FBK Kaunas, which is also owned by Vladimir Romanov.

HMRC presented the petition to the court on November 1 and Hearts have eight days to respond starting from this Tuesday, when the notice of the winding up order was published in the Edinburgh Gazette.

Hearts recently launched a fans’ share issue for a 10% stake in the club, which the board denies would be used to raise around £1.79m in order to pay off its tax debt.

In January, HMRC lodged a separate winding up order against Hearts with the Court of Session, which resulted in the club paying off another tax bill.

The tax authority also took similar actions in November and December last year.

I reckon this is a wind up.

[Dashing Bob S]

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Except Shaun, because he's a virgin.

We'll take care of Shaun. A few stiff drinks in the Albion Bar, followed by a visit to Scorpio Leisure. He shall soon wonder what all that nervous scarf twirling was all about.

[Mac]

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Thanks Sergey... pure internet gold!

Does Shaun still post on there? Does he still peek in here? If so, and just for him...


You'd better find £1.79m for Uncle Vlad soonish or it's

Ah but the most recent winding up order has nothing to do with the tax bil, this is for non payment of PAYE and NI and completely seperate, the hits just keep on coming.

So a tax bill for £1.8m, NI/paye, no games until 17th and players wages due on 16th!!!

I genuinely cannot see how on earth they are getting out of this one!!

[SteveHFC]

"Meanwhile, it is understood Hearts are unlikely to face any immediate sanctions from the Scottish Premier League over the non-payment of tax.
The only sanction for not paying HM Revenue Customs on time is a registration embargo and the club already have this sanction in place for the late payment of salaries to players.
The SPL have been informed and could take further action if payment is not paid within the eight-day deadline"

i reckon spl have known before now but are **** scared as what happens to league if they vanish, bit in bold is useless because if they dont pay in 8 days they wont be a club to take action against

[NRW_Hibbie]

FFS... Just booked flights home for the SC game. Hope they last that long. But not much longer.

[YehButNoBut]

Hearts have just issued a statement on their website re the latest tax bill which they say is for £449,692.04 and claim this has only just been presented to them.

http://www.heartsfc.co.uk/articles/2...241384_2973316

[CyberSauzee]

PBS Board statement

07.11.2012
Heart of Midlothian plc (the "Club") today wishes to make supporters and potential share offer investors aware of this most recent financial matter for their consideration in conjunction with the Share Offer 2012 brochure.

The Club has been served with an Order to wind up Heart of Midlothian plc by the Court of Session on behalf of the Commissioners For Her Majesty's Revenue and Customs (the "Petition").

The Club is, however, endeavouring to agree a suitable payment plan with HMRC for the outstanding amount of £449,692.04. It should be made clear that this has only recently been presented to Heart of Midlothian. The Petition is unrelated to the Club's potential liabilities included in the Risk Factors section of the Share Offer 2012 brochure.

The Board is hopeful that a suitable agreement can be reached with HMRC to provide a suitable repayment plan.

A Club spokesperson said: "We have guaranteed future revenues from forthcoming games and related broadcast income as well as additional guaranteed transfer income which will more than cover the outstanding amount stated in this Petition. We would therefore be hopeful that HMRC will accept that winding up the Club would be totally unnecessary."

The Club is revealing the Petition as it wants to continue being transparent in all its dealings with supporters and potential investors.

[CropleyWasGod]

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Hearts have just issued a statement on their website re the latest tax bill which they say is for £449,692.04 and claim this has only just been presented to them.

http://www.heartsfc.co.uk/articles/2...241384_2973316

Porkies.

The nature of PAYE and VAT is that they are self-accounted. From month to month, the company knows exactly how much it is due in those taxes. It is the COMPANY that tells HMRC how much it is due, not the other way around.

And, IIRC, they already had a payment plan in place for past debts.

[Gatecrasher]

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Sorry if already posted, but I'm still trying to pick myself off the floor ....Peter Enckelman
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I didnt think it would be THAT funny but it was, thanks

[Peevemor]

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Porkies.

The nature of PAYE and VAT is that they are self-accounted. From month to month, the company knows exactly how much it is due in those taxes. It is the COMPANY that tells HMRC how much it is due, not the other way around.

And, IIRC, they already had a payment plan in place for past debts.

It looks like total panic at the PBS.

[machibby]

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PBS Board statement
The Club is revealing the Petition as it wants to continue being transparent in all its dealings with supporters and potential investors.

and not because it's all over the news? What a noble gesture!!

[Off the bar]

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PBS Board statement

07.11.2012
Heart of Midlothian plc (the "Club") today wishes to make supporters and potential share offer investors aware of this most recent financial matter for their consideration in conjunction with the Share Offer 2012 brochure.

The Club has been served with an Order to wind up Heart of Midlothian plc by the Court of Session on behalf of the Commissioners For Her Majesty's Revenue and Customs (the "Petition").

The Club is, however, endeavouring to agree a suitable payment plan with HMRC for the outstanding amount of £449,692.04. It should be made clear that this has only recently been presented to Heart of Midlothian. The Petition is unrelated to the Club's potential liabilities included in the Risk Factors section of the Share Offer 2012 brochure.

The Board is hopeful that a suitable agreement can be reached with HMRC to provide a suitable repayment plan.

A Club spokesperson said: "We have guaranteed future revenues from forthcoming games and related broadcast income as well as additional guaranteed transfer income which will more than cover the outstanding amount stated in this Petition. We would therefore be hopeful that HMRC will accept that winding up the Club would be totally unnecessary."

The Club is revealing the Petition as it wants to continue being transparent in all its dealings with supporters and potential investors.

um yeah that and the fact its in all the papers. fuds.

[jacomo]

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All their Grand children will be Hibs fans.

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Except Shaun, because he's a virgin.

You never know. Once Hearts are bust and he ditches the maroon, his prospects might improve.

[essexhibee]

Wipe them from exsistance.

[Part/Time Supporter]

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PBS Board statement

07.11.2012
Heart of Midlothian plc (the "Club") today wishes to make supporters and potential share offer investors aware of this most recent financial matter for their consideration in conjunction with the Share Offer 2012 brochure.

The Club has been served with an Order to wind up Heart of Midlothian plc by the Court of Session on behalf of the Commissioners For Her Majesty's Revenue and Customs (the "Petition").

The Club is, however, endeavouring to agree a suitable payment plan with HMRC for the outstanding amount of £449,692.04. It should be made clear that this has only recently been presented to Heart of Midlothian. The Petition is unrelated to the Club's potential liabilities included in the Risk Factors section of the Share Offer 2012 brochure.

The Board is hopeful that a suitable agreement can be reached with HMRC to provide a suitable repayment plan.

A Club spokesperson said: "We have guaranteed future revenues from forthcoming games and related broadcast income as well as additional guaranteed transfer income which will more than cover the outstanding amount stated in this Petition. We would therefore be hopeful that HMRC will accept that winding up the Club would be totally unnecessary."

The Club is revealing the Petition as it wants to continue being transparent in all its dealings with supporters and potential investors.

Two points from this:

1. When they've been served with petitions in the past, Hearts normally put up a statement saying that they've either paid it already or that the cheque's in the post. That isn't the case here.

2. Pleading for time to pay isn't going to wash with HMRC, given their history of late payment.

[CropleyWasGod]

Clarification needed here.

Are players allowed to have shares in their own club?

They certainly aren't allowed to have shares in other clubs, which means.... when they all get punted in January, they will have to sell them.

[Leishy1995]

I hate them and dislike their deluded fans but the derbies when going well are to good to miss

[Squealing pig]

It'll b same as rangers start in div 3 but hearts don't have anywhere near support of rangers so I'm guessing the will struggle big time down there. Rangers revenue will obviously pull them through. Ie SPL players in div 3. Hearts will b hoping for players fi peterheid.

[connerg]

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Wipe them off the face of the earth - pronto please.

Seconded!!!!!

[Part/Time Supporter]

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Clarification needed here.

Are players allowed to have shares in their own club?

They certainly aren't allowed to have shares in other clubs, which means.... when they all get punted in January, they will have to sell them.

Knowing the SFA, there probably won't be any rules against it (as daft as it may seem). During the Rangers meltdown it became public that various directors and chairmen of clubs were also RFC plc shareholders.

[NorthNorfolkHFC]

Definitely don't want them out of existence. Derbies are what it's all about!!!

[PatHead]

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You never know. Once Hearts are bust and he ditches the maroon, his prospects might improve.

His luck might be in as his sister might want to party and bring the sheet back in now that Vlad is away . If anyone has a picture of the beauty.......

[CropleyWasGod]

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Knowing the SFA, there probably won't be any rules against it (as daft as it may seem). During the Rangers meltdown it became public that various directors and chairmen of clubs were also RFC plc shareholders.

I think I misread... this is from the Hearts "prospectus", which of course is no gospel:-

The rules of the SPL and SFA prohibit anyone from owning shares in more than one of their member clubs without their consent.

So, the players could play for someone else, whilst still owning shares in HMFC. Bizarre.