HMRC Involved (1 Viewer)

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McLovin87

McLovin87

Well-Known Member
Just heard on CWR that HMRC rejected the CVA, did we know they were involved and what implications might this have?

Also it wasn't the Alan Higgs Trust Charity who accepted the CVA but the Alan Higgs centre. Sorry if this is old news but there isn't time to trawl through all the different threads.
 
McLovin87

McLovin87

Well-Known Member
I didn't know we owed the taxman or do the HMRC get inoved in all CVA's?
 
duffer

duffer

Well-Known Member
I think we must owe the taxman something for them to be involved. I guess that shouldn't be a surprise.

Liquidations obviously come under much more scrutiny than CVAs, so it's possible they've seen something they didn't like in the affairs of the company and want a further investigation. Again, should we be surprised?!
 
R

RPHunt

New Member
Interesting that HMRC opposed the CVA as well. They have been looking for a long time to take a bite out of the football regulators and maybe they have scented blood.
 
WiganSkyBlue

WiganSkyBlue

Member
I, like others on here, wonder how a club in administration can continue to pay staff salaries when other past administrations of other football clubs have had the PFA providing loans to pay its members. This has never appeared to be a feature of CCFC's administration. Now with HMRC involvement, which no-one on here to my recollection has ever previously mentioned, would seem to indicate taxes in the form of PAYE and/or VAT not being paid. Is VAT payable on the purchase of players contracts? or on agents fees? With the taxman involved perhaps a proper investigation can now be undertaken, with the actions of directors and shadow directors being put under scrutiny.

Will Joy's position in the City now come under scrutiny?
 
ccfcway

ccfcway

Well-Known Member
They were owed something like £600

Only reason they would reject the CVA is if they wanted a little looky at someone going on..

Heres hoping
 
W

Wm65

New Member
Apparently the taxman is owed the huge sum of £700 - nothing worth worrying about regarding them .
 
mark82

mark82

Super Moderator
skybluesam66 said:
Not sure how they could have been a creditor with CCFC ltd

no employees and no revenue ???
Click to expand...

Yet £70 million of debt. That is what I really don't understand, how a company with no assets can have so much debt.

If CCFC Ltd. is liquidated and has no (or minimal) assets surely that clears all debt to SISU.
 
duffer

duffer

Well-Known Member
In fairness, I thought I'd check on HMRC's policy, because I'd got it in my head that they almost always reject CVA's especially from football clubs. However that's not the case, they'll reject CVAs from footy clubs if there are preferred creditors like players because they don't like that rule, but that's not the case here.

I'm guessing that they rejected it because there's something else they don't like about it.

Full explanation below, but the reason I suspect relates to 'debtors being honest in their disclosure'. Hmm.

http://www.hmrc.gov.uk/helpsheets/vas-factsheet.pdf
 
K

kingharvest

New Member
I know it's not exclusive that HMRC reject all cva's but it is generally the case so might not be much to it. I also believe that Alan Higgs, as a charity, are duty bound to accept as they have a responsibility to whomever they represent? Something like that.
 
magic82ball

magic82ball

New Member
I would love it if that Nick Griffin looking c**t got sent down for something. would make it all worth while.
 
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