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Winding Up Order Wednesday

I believe this has more to do with PAYE, NI and VAT collected but not paid over to HMRC. I would be surprised if we have ever had to concern ourselves with Corporation Tax.

Lets not forget that the bulk of the PAYE& Nic is what staff, including players have had deducted from their wages. Meaning no matter what it’s not the clubs money once the players have been paid.
The employers nic is around 13% but again that’s a cost you have to pay.
The VAT thing is again not the clubs money it’s paid by someone who has bought something such as a season ticket and the club are holding that till such time as they send in a VAT return and within it they should pay the money that’s due.

As I have said elsewhere the fact that part of the conditions around the agreed adjourned WUO was that the club submitt outstanding returns. That is a concern because those returns almost certainly will reveal another huge amount being due and that will In all likelihood will be the case even if you disregard the sums that will be suspended in terms of being due to next year.
 
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