What Do You Think Will Happen To Pompey? (1 Viewer)

[smileycov]

What do people think is gonna happen tomorrow with Portsmouth, they are on seriously dodgy ground with the tax man. it is my understanding they are claiming 3-4 million isn't taxable beacuse it was paid off shore as image rights, even though they only actually sold 400k worth of merchandise!! if they lose then the tax man is owed over 25% of the debt and can stop them coming out of administration!!! not only could this kill the club, but will open the door to investigate more clubs!!

The powers that be have seriously screwed this club, but the damage could hurt us all.

 

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[Nick]

I don't really know much about HMRC and all of that stuff so I don't know what could happen to them.

I personally think they will get away with a fair whack.

 

[covladzak]

I don't really know much about HMRC and all of that stuff so I don't know what could happen to them.

I personally think they will get away with a fair whack. I do as well and the "owner" of the club will hot foot it away with the parachute payment for going down.......

 

[stephen howe]

Knowing our luck we'll win by a goal difference smashing 3 or 4 goals and Portsmouth will get liquified in September, completely wiping out or handsome looking goal difference and send us careering 10 places down the league into a relegation dogfight. The swines.

 

[stephen howe]

but it also occurs that the one people you don't want to owe money to is the taxman. It seems that they don't do deals. Cardiff & Sheffield Wednesday seem to be perilously close to finding this out as well. Although I dare say they're not the only ones. Just the most desperate and high profile. At the end of the day HMRC want their money from Pompey, if Pompey get liquified it'l be because the Taxman thinks they won't pay. If the don't exist the Taxman's not getting anything.
From reading a little article yesterday the taxman seems to have got the hump because under the deal between most debtors and Portsmouth's administrators means that most non-footballing debtors have accepted a deal to pay a reduced amount per pound owed. The taxman's got the hump because this deal doesn't apply to footballing debts, i.e player transfer costs and such like. This seems to be why they're making such a big issue in Portsmouth's case. The taxman doesn't want to kill Portsmouth, he wants his money. But out of all the people, groups or institutions to owe money to messing with the Inland Revenue seems the most fraught with danger.

 

[Nick]

I read that Portsmouth were doing a hell of a lot of Tax Evasion in foreign countries.

Do they own their stadium? I guess one step would be to sell the ground and rent it back?