View From The Top Posted 11 October, 2009 Posted 11 October, 2009 They might very well do. If you go to a car salesmen do you pay the first price they say? This is HMRC we are on about mush. They are hardly known for their liberal approaches to giving football clubs time. I can imagine that the thought process was/is something like this for most owed dosh: Pompey have no money so lets give them time. Pompey still have no money and I don't want to be seen as the person/company/team to put them into administration so let's work on terms. Ooooo Pompey have got money now. Where is my f***ing money!? For HMRC the last bullet point is the only bullet point.
dellgirl Posted 11 October, 2009 Posted 11 October, 2009 Well nobody else has made a silk purse out of a sows ear that is Portsmouth with all previous investment,a few moments in the sun and no infrastructure..a funny way of doing business if you are serious,we can only wait and see the latest pretender to the Pompey throne.
mack rill Posted 11 October, 2009 Posted 11 October, 2009 Explain this then Skates... http://www.dailymail.co.uk/sport/football/article-1219527/EXCLUSIVE-Portsmouth-facing-financial-ruin-unpaid-tax-bill.html You cannot pay the TAX up front, and you are you still trying to stagger payments, why would you do that if the guy who now owns you is full of cash? It still stinks, something isn't right. Maybe the real money man behind all this just fell off the Slope, er sorry shelf!
benjii Posted 11 October, 2009 Posted 11 October, 2009 Its called business. Why pay something all up front if you can stagger payments? If it is £10m interest per annum at 5% is a cool £500k. I realise you personally may be wealthy enough to just go "oh well its only half a million" but maybe the people buying Portsmouth might want to keep that money in house. Lol - sure it's "just business". It's a well recognised practice not to pay your tax bills but to try to stagger overdue payments over time. That's what good businesses do. They don't pay their taxes on time.
bridge too far Posted 11 October, 2009 Posted 11 October, 2009 Blimey! Portsmouth not paying their taxes could mean some doctors, nurses and policemen lose their jobs or operations might have to be cancelled. That's dreadful. HMRC would penalise me if I didn't pay my taxes! This is not an ironic post, BTW but one from someone who is generally horrified at the double standards that operate where taxes are concerned.
benjii Posted 11 October, 2009 Posted 11 October, 2009 Blimey! Portsmouth not paying their taxes could mean some doctors, nurses and policemen lose their jobs or operations might have to be cancelled. That's dreadful. HMRC would penalise me if I didn't pay my taxes! This is not an ironic post, BTW but one from someone who is generally horrified at the double standards that operate where taxes are concerned. I'm sure they are being penalised financially in interest, charges etc. Another reason, apart from the shameful morality of it, that any decent business would pay their bill if they could. The fact that PFC are negotiating is not indicative of solid and savvy business acument, it's indicative of an inability to pay.
dubai_phil Posted 11 October, 2009 Posted 11 October, 2009 I'm sure they are being penalised financially in interest, charges etc. Another reason, apart from the shameful morality of it, that any decent business would pay their bill if they could. The fact that PFC are negotiating is not indicative of solid and savvy business acument, it's indicative of an inability to pay. Which of course explains why they haven't paid their bill. Not been a decent business since MM waltzed in. No offence to the Sk8tes, we were just a failed one.
Clapham Saint Posted 11 October, 2009 Posted 11 October, 2009 I'm sure they are being penalised financially in interest, charges etc. Another reason, apart from the shameful morality of it, that any decent business would pay their bill if they could. The fact that PFC are negotiating is not indicative of solid and savvy business acument, it's indicative of an inability to pay. As somebody who negotiates with the revenue on behalf of clients on a regular basis... if the revenue beleive you have the ability to pay then there really isn't any negotiating to be had.
sotonist Posted 11 October, 2009 Posted 11 October, 2009 Its called business. Why pay something all up front if you can stagger payments? If it is £10m interest per annum at 5% is a cool £500k. I realise you personally may be wealthy enough to just go "oh well its only half a million" but maybe the people buying Portsmouth might want to keep that money in house. Business is clearly not your forté.
angelman Posted 11 October, 2009 Posted 11 October, 2009 Couple of things dont make sense. The Mail says "the club insist that Al Faraj is the sole beneficial owner of Falcondrone and have resubmitted his ‘fit and proper person’ paperwork to the Premier League". I thought that this fit and proper stuff was done and dusted weeks ago, so why do they need to resubmit? The article also says "Falcondrone are proposing a lump sum, followed by regular instalments, to give them breathing space to assess the situation at Fratton Park". Ummm, if you have bought a club, don't you think that you would have done due diligence and know exactly what the situation is? And why not just clear all debts in one fell swoop? Either this is lazy journalism or something fishy is going on.
Merovingian Posted 12 October, 2009 Posted 12 October, 2009 Couple of things dont make sense. The Mail says "the club insist that Al Faraj is the sole beneficial owner of Falcondrone and have resubmitted his ‘fit and proper person’ paperwork to the Premier League". I thought that this fit and proper stuff was done and dusted weeks ago, so why do they need to resubmit? The article also says "Falcondrone are proposing a lump sum, followed by regular instalments, to give them breathing space to assess the situation at Fratton Park". Ummm, if you have bought a club, don't you think that you would have done due diligence and know exactly what the situation is? And why not just clear all debts in one fell swoop? Either this is lazy journalism or something fishy is going on. Do you really think the mail know the financial details right down to how things are going to be paid, they cannot find out anything about the owner so why would they suddenly know about his company - utter poppy**** from the mail lol
Clapham Saint Posted 12 October, 2009 Posted 12 October, 2009 Business is clearly not your forté. Genius. If you have the ability to pay, in full, now, then why should the revenue agree to wait for their money? Do Cash rich companies pay their tax late? No. If you have genuine difficulty then they will do a deal with you.
OldNick Posted 12 October, 2009 Posted 12 October, 2009 They might very well do. If you go to a car salesmen do you pay the first price they say?Are you for real? Lol The last people you mess with are HMRC. I also believe that they can give punitive rates of interestand penalties.I dont think 5% would be the figure.Anyway I note that PFC have been late paying for many years and that will not be looked kindly upon.
Clapham Saint Posted 12 October, 2009 Posted 12 October, 2009 Are you for real? Lol The last people you mess with are HMRC. I also believe that they can give punitive rates of interestand penalties.I dont think 5% would be the figure.Anyway I note that PFC have been late paying for many years and that will not be looked kindly upon. If you owe HMRC £2m (as was mentioned somewhere on here) and start anouncing that you have a new billionaire owner and have funds available to invest in new players does anybody really think that HMRC will agree to take a back seat and let the money be spent on players rather than on repaying them?
benjii Posted 12 October, 2009 Posted 12 October, 2009 Exactly it is manifestly clear that either: a) these stories are all wrong and all is rosey in the Pompey garden; or b) the stories are in some part true even if the details might not be quite right and there certainly has not been a big cash injection (and probably won't be soon). The more I think about it, the more I think they've been Fialkad.
dubai_phil Posted 12 October, 2009 Posted 12 October, 2009 Have heard that a photo of the owner has been posted on POL Shame that it is apparently the owner of Man City (Only told to me 2nd hand BTW as I'm still waiting the picture)
Merovingian Posted 12 October, 2009 Posted 12 October, 2009 its been posted in a national aswell has it not ?
benjii Posted 12 October, 2009 Posted 12 October, 2009 its been posted in a national aswell has it not ? But the nationals don't have a clue about Pompey do they? They are just nasty, awful people who wish to rake mud when really all is great.
Merovingian Posted 12 October, 2009 Posted 12 October, 2009 http://www.dailymail.co.uk/sport/football/article-1218613/Pompey-saved-But-does-know-Ali-Abdullah-Al-Faraj-actually-is.html who is saying all is great, most of us are waiting to see what happens
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