Share Transfers Agreed/Cooling off period

[Gingertosser]

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."

That means the players won't see a wage for a while !!!

[Joy Zipper]

This quote is hidden because you are ignoring this member. Show Quote

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.

This is correct

[jgl07]

This quote is hidden because you are ignoring this member. Show Quote

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.

Any Hearts supporter who hascash would be advised to hang on to it for the moment and set about forming a Newco.

[Franck Stanton]

Ye can stick the Derbys where the sun don't shine as far as I am concerned. Get them mutants out, dead,gone forever, wiped off the face of the earth, buried, defunct,disbanded, extinct as soon as possible, dirty cheating in-bred mutants, I hate them.

[Peevemor]

This quote is hidden because you are ignoring this member. Show Quote

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."

That means the players won't see a wage for a while !!!

What they don't say is that the outstanding bill(s) shouldn't need to be paid from future income. It should have already been paid, only they've spent money that wasn't theirs in the first place (particularly VAT). This is why HMRC don't muck about with these things - a couple of warnings and then it's straight to litigation.

[Spike Mandela]

This quote is hidden because you are ignoring this member. Show Quote

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."

That means the players won't see a wage for a while !!!

Yeah until the next time. HMRC have the taste of blood still in their throat from the Rangers demise and may not feel disposed to doing deals with clubs who could fold without paying their PAYE.

[bingo70]

Will hmrc entertain an instalment plan when the clubs outgoings are already bigger than its income? How would saddling a loss making company with more debt be beneficial for either parties?

[CyberSauzee]

This quote is hidden because you are ignoring this member. Show Quote

What they don't say is that the outstanding bill(s) shouldn't need to be paid from future income. It should have already been paid, only they've spent money that wasn't theirs in the first place (particularly VAT). This is why HMRC don't muck about with these things - a couple of warnings and then it's straight to litigation.

Very good point - and exactly the same as was happening at Ibrox last season.

[Billy Whizz]

We must not let them win or even get a draw in the Cup game as this will help their finances. This will undoubtably be the biggest game ever.
Am I being cruel?

[green glory]

Oh it just keeps coming!


@STVkeith: More revelations on Hearts. STV learns a number of players have still to receive bonus payments for Scot Cup success. http://t.co/KVAz2EQb

[Peevemor]

This quote is hidden because you are ignoring this member. Show Quote

Will hmrc entertain an instalment plan when the clubs outgoings are already bigger than its income? How would saddling a loss making company with more debt be beneficial for either parties?

Exactly - especially since they've already admitted that, as things stand, they don't have enough money to see out the season.

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

Will hmrc entertain an instalment plan when the clubs outgoings are already bigger than its income? How would saddling a loss making company with more debt be beneficial for either parties?

As I say, AFAIK there is already an instalment plan in place. If HMFC kept to it, then this action wouldn't have been necessary.

And, they are not "saddling a loss making company with more debt". The debt already exists, and was established whenever they "paid" their staff or took money at the gate.

[Wotherspiniesta]

obama-down-nose-smile1.jpg

[matty_f]

Hearts had a payment plan already with HMRC and were regularly late with the repayments, hence previous winding up orders.

I'd be surprised if Hector thought it was a good idea to give them a break this time.

[Spike Mandela]

This quote is hidden because you are ignoring this member. Show Quote

Oh it just keeps coming!


@STVkeith: More revelations on Hearts. STV learns a number of players have still to receive bonus payments for Scot Cup success. http://t.co/KVAz2EQb

Has Craig Thomson received his match fixing fee yet I wonder.

[Peevemor]

This quote is hidden because you are ignoring this member. Show Quote

As I say, AFAIK there is already an instalment plan in place. If HMFC kept to it, then this action wouldn't have been necessary.

And, they are not "saddling a loss making company with more debt". The debt already exists, and was established whenever they "paid" their staff or took money at the gate.

Yes, but given that at this moment in time they've admitted that they're rooked and are struggling to see out the season, allowing them to continue trading will undoubtedly result in more unpaid tax.

[21.05.2016]

Hopefully a long very painful demise, followed by them being wiped clean off the face of the earth :fenlon

Rot in hell jambos

[Bighoose]

Well at least they weren't lying when they said that none of the proceeds from the share scheme would be used to pay off the 1.7M pending tax bill under tribunal.

Its obviously now needed for a more immediate tax bill than even that.

But nevermind at least Tynie is worth £17M...

[Sean1875]

What a complete embarassment of an organisation.

[Green Man]

They're utterly, utterly screwed aren't they?

[clerriehibs]

They've cheated amd cheated and the 'ordinary' yams knew, said nowt and lapped up the derby runs and the cup wins.

I hope they wither and die. I don't want them around, they're poison.

[WarringtonHibee]

This is getting better and better by the day!

[Off the bar]

This quote is hidden because you are ignoring this member. Show Quote

They're utterly, utterly screwed aren't they?

yup. brilliant is'nt it?

[Mikey]

This quote is hidden because you are ignoring this member. Show Quote

66/1 was great odds on them being relegated. some got even better. hehehe.

100/1

That would be the only downside of them disappearing altogether. But to be honest, I'll cope

[Gatecrasher]

This quote is hidden because you are ignoring this member. Show Quote

This is getting better and better by the day!

It seems to be building up a bit now

[jacomo]

This quote is hidden because you are ignoring this member. Show Quote

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.

Ouch!

[essexhibee]

Not holding my breath. They always seem to squirm their way out of these financial difficulties when it seems they are gonna go under .

Perleaseeeee let this be the end.

[WarringtonHibee]

http://www.heartsfc.co.uk/articles/2...241384_2973347

This is AMAZING.

[CyberSauzee]

This quote is hidden because you are ignoring this member. Show Quote

100/1

That would be the only downside of them disappearing altogether. But to be honest, I'll cope

100/1 only 4 days ago with VCBet. They now go 16/1

Can't find any price on them at the moment for 'going out of existence'.

[Spike Mandela]

“@TonyMcKelvie: @TomEnglishSport Saying that, chances are it'll be a quick Pre-Pack given the position of Ukios. Maybe for the best actually.”