Share Transfers Agreed/Cooling off period

[Dashing Bob S]

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Post-split and pre-split liquidation sounds like something the manager would be discussing with a lassie.

Excellent.

'What are your pre-liquidation plans Gary?'

'Get a few pints of lager into the dirty cow.'

'And post-liquidation?'

'Oh lie around for a few hours in it, then have a bath and go home.'

[GreenLake]

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Excellent.

'What are your pre-liquidation plans Gary?'

'Get a few pints of lager into the dirty cow.'

'And post-liquidation?'

'Oh lie around for a few hours in it, then have a bath and go home.'

[greenginger]

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Per HMRC's own manual:-

if the character in the recipient's hands is that of a payment made in order that the money may be used in the recipient's business, to supplement trading or other business receipts and to enable the recipient to carry on business, or otherwise to preserve and maintain trading stability and solvency, then it will be a taxable trading receipt (Smart v Lincolnshire Sugar Co Ltd [1937] 20TC643 at 670; British Commonwealth International Newsfilm Agency Ltd v Mahany [1962] 40TC550 at 578 and 582);

In a word, AYE.

Are we talking about Corporation Tax here ? On their last published accounts the had accumulated losses of £ 47,371,000 to set off against any profit generating income, so it should not be a problem.

However, if we are talking VAT .......

[CropleyWasGod]

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Not if it was a loan within an arm's length transaction.

CWG - not wishing to disagree - you are correct that is from a handbook but the reality is the Yams will receive the money as a loan, will account for it as such - therefore no Corporation Tax or V.A.T. -, and if H.M.R.C. wish to tax it as income it will be years away and they will face resistance particularly if the loan was subsequently repaid (with interest would help) or there has been a loan/share swap.

Will it be a loan, though? I have my doubts. Can a company in administration receive a loan? And, if it can, how that does affect its solvency?

In any event, as GG says, there are enough losses to mop up the income.

I'm still thinking about the VAT.

[Ozyhibby]

I don't think it can be a loan as BDO are not allowed to create more creditors?

[Onion]

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I don't think it can be a loan as BDO are not allowed to create more creditors?

.. but 8000 suckers is just fine

[Weststandwanab]

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Are we talking about Corporation Tax here ? On their last published accounts the had accumulated losses of £ 47,371,000 to set off against any profit generating income, so it should not be a problem.

However, if we are talking VAT .......

Book losses and tax losses are quite different however, I take your point.

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Will it be a loan, though? I have my doubts. Can a company in administration receive a loan? And, if it can, how that does affect its solvency?

In any event, as GG says, there are enough losses to mop up the income.

I'm still thinking about the VAT.

Not sure about loan to a Company in Administration but I m sure there will be a way. If the section you quote from ,H.M.R.C. applies V.A.T. will be due on this "income".

I have now confirmed that a loan would not be legal however there may be another way but I am not posting it on here.

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.. but 8000 suckers is just fine

The Diddies are not creditors of Hearts nor F.O.H.

[greenginger]

http://www.rferl.org/content/ukraine.../25276879.html

A lot of corruption and dirty deals being dredged up in the Ukraine . Now I am pretty sure Ukio Bankas and UBIG had substantial interests in that Country and creditors awaiting a call to a creditor's meeting.

I hope they sort out those millions of documents sharpish, and be in a position to rubber stamp a share transfer by the end of next month.

There is a famous football team to save ,don't ya know.

[Hermit Crab]

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3 DAYS

Left for the announcement of 'the creditors meeting which will take place some time in March to rubber stamp the transfer of shares' to actually take place sometime in March.

Then sometime in March becomes sometime in April. Or May.

It's probably already organised. They are just leaving the announcement to the last minute to get a mad rush of direct debits and drool from the puddle drinkers.

[Phil D. Rolls]

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http://www.rferl.org/content/ukraine.../25276879.html

A lot of corruption and dirty deals being dredged up in the Ukraine . Now I am pretty sure Ukio Bankas and UBIG had substantial interests in that Country and creditors awaiting a call to a creditor's meeting.

I hope they sort out those millions of documents sharpish, and be in a position to rubber stamp a share transfer by the end of next month.

There is a famous football team to save ,don't ya know.

But they have a Memorandum of Understanding.

[greenginger]

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But they have a Memorandum of Understanding.

A Memorandum of Misunderstaning more like

[Ronniekirk]

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But they have a Memorandum of Understanding.

this is what the fans have decided is the key to it all They think that this is basicLly a done deal and that it's just a formality before it all falls into place hence if it gets pushed back another month then another month they still think utopia is within sight and the budge PR has led them to believe it is more imminent now than it's ever been .But still no sign of B J returning from Lithuanian Land with the definite time line for it
I see Eninburgh Evening News still peddling the Budgie line that she will have the shares by some time in April .So nothing to worry about then ? All is Barry .

[EastCalderHibby]

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http://www.rferl.org/content/ukraine.../25276879.html

A lot of corruption and dirty deals being dredged up in the Ukraine . Now I am pretty sure Ukio Bankas and UBIG had substantial interests in that Country and creditors awaiting a call to a creditor's meeting.

I hope they sort out those millions of documents sharpish, and be in a position to rubber stamp a share transfer by the end of next month.

There is a famous football team to save ,don't ya know.

I know they are famous for........ pedophiles , cheats, tax evasion ,robbing charity's, winning the war ,deluded, smelly,thieving postman,
and REALLY ugly deranged fans all 400,000 of them.


BUT WERE DOES THE WORD FAMOUS COME FROM IN THE FOOTBALL WORLD IN THE SAME SENTENCE AS THAT *****

[GreenLake]

I was watching the 6.2 complete game after reminiscing about Latapy, Sauzee and the team then under McLeish and heard the Hibs fans singing "You've got no f....... money" to the maroon twirliegigs. No matter how many times these cheating ***** try to build an advantage through their financial fraud, we always come back and give them a good doing. AND, with absolutely no cheating! Just fielding football players willing to pull on a famous green shirt and play their hearts out knowing they will get fairly paid for their efforts.

No tax scams, no loan player scams, no salary delays, no "voluntary" salary cuts, no free council land, no council assistance whatsoever, no free policing, no free ambulance service, no free training facilities, no charity stealing, no money laundering, no media propaganda, no political connivance and no biased referees.

GIRFUY HMFC #footballcheats - the next massacre is going to be a Butchering!

[Jack]

News has just reached Jack Towers, my caravan is on stilts in case there's a flood, that the shares will be defrosted on the 29th February.






























Shame there isn't a 29th February for another couple of years.

[Kato]

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But they have a Memorandum of Understanding.

I thought "Memorandum of Understanding" was just crying out for an anagram, little did I know it'd be so revealing

"Dream on, mad uninformed g u n t s." (needs checked, think so though)

Wow.

[SonOfDavidFrancey]

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I thought "Memorandum of Understanding" was just crying out for an anagram, little did I know it'd be so revealing

"Dream on, mad uninformed g u n t s." (needs checked, think so though)

Wow.

Priceless.

[kev1875]

Im just glad I wrote to Lithuania. It's really opened my eyes to the height of the mound of ***** they're in.

[Kato]

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Priceless.

It is, just like a company's shares which are caught up in a huge interntional fraud investigation uncanny coincidences like that just cannot be bought.

[Jack]

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I thought "Memorandum of Understanding" was just crying out for an anagram, little did I know it'd be so revealing

"Dream on, mad uninformed g u n t s." (needs checked, think so though)

Wow.

Shared with our friends from the Bounce, hope you don't mind :-)

[Kato]

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Shared with our friends from the Bounce, hope you don't mind :-)

Spread the word, brother.

[Jack]

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Spread the word, brother.

I think I/we got 'thanks' for it, on my tab, need to be on a PC, so can't check for sure.

Well done :-)

[Kato]

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I think I/we got 'thanks' for it, on my tab, need to be on a PC, so can't check for sure.

Well done :-)

Wizny me, it was the cosmos.

[Juice-Terry]

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I thought "Memorandum of Understanding" was just crying out for an anagram, little did I know it'd be so revealing

"Dream on, mad uninformed g u n t s." (needs checked, think so though)

Wow.

It's also something you might think Petrie or Farmer would say to Vlad:

"I'm stronger, unfounded madman!"

[Craig_in_Prague]

I reckon mad Vlad is actually Farmer wearing a mask.
Once the Yams are officially pooped - He'll rip the mask off and give it a big Get it up yeh's (still game style).
Lets face it, one is "missing" and one is hardly ever seen.
So, I think it's a FACT.

[Geo_1875]

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http://www.rferl.org/content/ukraine.../25276879.html

A lot of corruption and dirty deals being dredged up in the Ukraine . Now I am pretty sure Ukio Bankas and UBIG had substantial interests in that Country and creditors awaiting a call to a creditor's meeting.

I hope they sort out those millions of documents sharpish, and be in a position to rubber stamp a share transfer by the end of next month.

There is a famous football team to save ,don't ya know.

Complete amateurs. Vlad could have shown them how to make things disappear permanently. If he hadn't allegedly been hiding in Moscow.

[Twa Cairpets]

Is it just me, or does anyone feel that this endless rooking of the gullible fud-u-likes over by is, even by their standards of indecency, fairly appalling?

Average football fan pays say £400 for a ST. They're now also taking in an average (guess) of £250 in return for, effectively, sweet FA. Now, it may be the case that this is indeed a sign of the incredible loyalty of those wonderful, loyal and altogether humble fans standing shoulder-to-shoulder to save The Famous, or - and i'm just putting it out there - it's been identified by a succession of past, present and future owners that the supporters are in fact fleshy cash-points with the critical thinking faculties of mildew.

While I agree that the 400,000 are deserving of everything they get, I do also think that the expectation that these credulous morons are the default go-to to bale the institution out is pretty low.

[CropleyWasGod]

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Is it just me, or does anyone feel that this endless rooking of the gullible fud-u-likes over by is, even by their standards of indecency, fairly appalling?

Average football fan pays say £400 for a ST. They're now also taking in an average (guess) of £250 in return for, effectively, sweet FA. Now, it may be the case that this is indeed a sign of the incredible loyalty of those wonderful, loyal and altogether humble fans standing shoulder-to-shoulder to save The Famous, or - and i'm just putting it out there - it's been identified by a succession of past, present and future owners that the supporters are in fact fleshy cash-points with the critical thinking faculties of mildew.

While I agree that the 400,000 are deserving of everything they get, I do also think that the expectation that these gullible morons are the default go-to to bale the institution out is pretty low.

It's a fair point and one which, in my weaker moments, I have had to grapple with.

The socialist in me despises the way in which ordinary people have been shafted by the captains of industry, and are being asked to pay the price over and over again.

The Hibby in me says.... **** 'em

[Kato]

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Is it just me, or does anyone feel that this endless rooking of the gullible fud-u-likes over by is, even by their standards of indecency, fairly appalling?

Aye, but 1902, 5-1.

[Hibbyradge]