Pre-Match Thread HMRC v Southend Utd (Mon 18th March 10:30am KO)

[McNasty]

So what are the options?

1. We pay in full, no further action taken. But card marked AGAIN.

2. We are given an Administration Order. CVA agreed. 10 Points docked this season, which would leave us 7 points above the drop zone.

3. We are given a Winding Up Order. Liquidated. The end of SUFC as we know it.

Sod number 3. I have just got my SUFC tattoo done .

 

[C C Csiders]

Sod number 3. I have just got my SUFC tattoo done .

Welcome to the Scunthorpe United Supporters' Club

 

[Jai]

Option 2 - would it rid us of Ron?

 

[Yorkshire Blue]

So what are the options?

1. We pay in full, no further action taken. But card marked AGAIN.

2. We are given an Administration Order. CVA agreed. 10 Points docked this season, which would leave us 7 points above the drop zone.

3. We are given a Winding Up Order. Liquidated. The end of SUFC as we know it.

4. We are given a further month to pay it off because it makes no sense to wind the club up before it's biggest ever payday.

 

[C C Csiders]

Option 2 - would it rid us of Ron?

No. However, the appointed administrator will be in control until his/her proposals are in place and then he/she hands control back to the comapny directors.

 

[C C Csiders]

4. We are given a further month to pay it off because it makes no sense to wind the club up before it's biggest ever payday.

Except I dount the Court Registrar will give a monkey's about that, having previously stated "next time you appear before this court you will be wound up".

 

[Lester Bangs]

I almost wonder if this could be the time to call the administrators and to take the 10 point hit. Write off some debts and get rid of the current chairman.

Hopefully the club can appoint someone who can steer us in a better direction than the single plan of developing Fossetts Farm for personal gain and to the detriment of the club.

Lets face it, promotion seems a long way off now after last nights display.

 

[Firestorm]

Winding up processes don't give an option for Administration , HMRC have applied to have us wound up, if the court finds in their favour its all over,

http://www.hmrc.gov.uk/factsheets/ef6.pdf

Hmm Bank accounts frozen.....that may explain things

 

[C C Csiders]

Winding up processes don't give an option for Administration , HMRC have applied to have us wound up, if the court finds in their favour its all over,

http://www.hmrc.gov.uk/factsheets/ef6.pdf

Hmm Bank accounts frozen.....that may explain things

So given what was said last time, unless RM comes up with 150,000+ shiny sheckels we are royally f****d..

 

[Smiffy]

Winding up processes don't give an option for Administration , HMRC have applied to have us wound up, if the court finds in their favour its all over,

http://www.hmrc.gov.uk/factsheets/ef6.pdf

Hmm Bank accounts frozen.....that may explain things

No. Not unless we do it voluntarily?...

 

[Smiffy]

So given what was said last time, unless RM comes up with 150,000+ shiny sheckels we are royally f****d..

Pretty much.

Unless Ronald places us in Admin. Which won't happen.

 

[Yorkshire Blue]

Winding up processes don't give an option for Administration , HMRC have applied to have us wound up, if the court finds in their favour its all over,

http://www.hmrc.gov.uk/factsheets/ef6.pdf

Hmm Bank accounts frozen.....that may explain things

Precisely. It's an incredibly draconian measure which is why the Court will only do it as a last resort.

It makes no sense to wind the club up on Monday when creditors will receive more money by letting the club play at Wembley.

Whatever threats the Registrar made last time aren't binding but the law is.

 

[Firestorm]

Precisely. It's an incredibly draconian measure which is why the Court will only do it as a last resort.

It makes no sense to wind the club up on Monday when creditors will receive more money by letting the club play at Wembley.



Whatever threats the Registrar made last time aren't binding but the law is.

That would be the argument the club could use if they chose to go into administration prior to the hearing (to go into administration when there is a winding up order in place requires the Courts approval).

Also we could be able to borrow in the short term against the future earnings in order to pay the bill.

however, not paying is very likely to mean curtains , particularly given our history

 

[Smiffy]

Winding up processes don't give an option for Administration , HMRC have applied to have us wound up, if the court finds in their favour its all over,

http://www.hmrc.gov.uk/factsheets/ef6.pdf

Hmm Bank accounts frozen.....that may explain things

So HMRC have had our bank account frozen?

 

[Tampa Blue]

Precisely. It's an incredibly draconian measure which is why the Court will only do it as a last resort.

It makes no sense to wind the club up on Monday when creditors will receive more money by letting the club play at Wembley.

Whatever threats the Registrar made last time aren't binding but the law is.

Agreed, but when do HMRC ever see sense, they appear to close down numerous small businesses rather than allow them an extended period fo time to pay any outstanding taxes and seem to have a habit of cutting off their noses to spite their faces.

Not that I really care, but what would happen to the JPT final if we were wound up? Too short notice to put Orient through I'd suspect.

 

[southend4ever]

These ruthless ***** are coming after sports clubs at amateur level also at the moment!

 

[Smiffy]

Agreed, but when do HMRC ever see sense, they appear to close down numerous small businesses rather than allow them an extended period fo time to pay any outstanding taxes and seem to have a habit of cutting off their noses to spite their faces.

Not that I really care, but what would happen to the JPT final if we were wound up? Too short notice to put Orient through I'd suspect.

Won't happen. But I guess Crewe would be awarded the trophy by default.

 

[Cricko]

So HMRC have had our bank account frozen?

I don't think that is necessarily the case mate unless Firestorm knows different, it just says:

"Shortly after filing, a copy of the petition is served on the company at its registered
office. The law requires that the petition is advertised in the London Gazette not less
than seven business days after service. As a result of this, the company’s bank account
may be immediately frozen".

 

[Mick]

So HMRC have had our bank account frozen?

Wow ... does that mean Ron has all our Wembley money in a large shoebox under his bed ?

 

[Napster]

Dunfermline have been served with a winding up order over a £134k tax bill

:'(