Sheff Wed

[SuperMikey]

Sheffield Wednesday face a winding-up order on Wednesday over a £550m tax bill which HM Revenue & Customs claim has not been paid.

(Daily Mail)

 

 

(I understand that's a typo, the real amount is £550k)

[brightspark]

I'd be switching off the lights if it was a 550 million tax bill. But in all honesty they have nothing to worry about now Pompey have set the precedent. They may as well keep spending if they want promotion that badly this year.

[SaintBobby]

They might be able to ride it. They might not. They won't go bust, but they are in measurable danger of getting a 10 point penalty.

[SNSUN]

They might be able to ride it. They might not. They won't go bust, but they are in measurable danger of getting a 10 point penalty.

 

A few of those points penalties would certainly take the pressure off us tbf. Perhaps we should study loopholes then report Huddersfield for something!

[Smirking_Saint]

Why won't they go bust ?? Were we not dragged into the administration gutter by a similar bill ? Albeit not to the tax man.

[Doctoroncall]

I thought they were talking to the co-op bank to get that resolved, obviously that didn't work out but I'm sure the seven figure fee for Lee Grant will cover the £550k bill.

[CB Saint]

I wonder if the revenue will start issuing winding up orders at the start of the season. The only way to escape if you don't have the cash is to go into admin with the immediate penalty that comes with it. Much bigger threat to a club at the start of a campaign than at the end when the club it often already dead and buried.

[Saint Fan CaM]

HMRC have shot themselves in the foot perhaps by failing to prosecute Pimpley...all bets are off when it comes to unpaid tax bills having any large effect on a football club's operations.

[dubai_phil]

Let's see...

 

 

We have player sales

 

We are going to be taken over (American Sports Group in the press a couple of weeks ago)

 

We need to make an SoA

 

No problemo Sheff Wed lawyers are reading our Pimpley thread for the defence as we read this

[tartanowl]

Our PAYE tax bill has already been paid. An agreement is in place for the remainder of the VAT bill. The transfer embargo has been lifted.

[RonManager]

Our PAYE tax bill has already been paid. An agreement is in place for the remainder of the VAT bill. The transfer embargo has been lifted.

 

So why are they still proceeding against you?

[SaintNeil90]

Our PAYE tax bill has already been paid. An agreement is in place for the remainder of the VAT bill. The transfer embargo has been lifted.

 

Link?

[tartanowl]

So why are they still proceeding against you?

 

The court date had already been set so we have to turn up regardless. The only worry I have at present is about the agreement for the other tax bill.

 

Link?

 

I don't have a link I'm afraid. I just know.

[SaintNeil90]

The court date had already been set so we have to turn up regardless. The only worry I have at present is about the agreement for the other tax bill.

 

 

 

I don't have a link I'm afraid. I just know.

 

Says it all really.

http://news.bbc.co.uk/sport1/hi/football/teams/s/sheff_wed/8903312.stm

The article says wednesday are confident the debt can be paid.

 

Also, you dont have to go to court just because the date was set. Cardiff settled their tax debt out of court, as a result they didnt have to go to court. Why would you go to court if it had already been settled? There would be nothing to discuss!

[tartanowl]

Says it all really.

http://news.bbc.co.uk/sport1/hi/football/teams/s/sheff_wed/8903312.stm

The article says wednesday are confident the debt can be paid.

 

Also, you dont have to go to court just because the date was set. Cardiff settled their tax debt out of court, as a result they didnt have to go to court. Why would you go to court if it had already been settled? There would be nothing to discuss!

 

As I have already said. The PAYE has been paid. The VAT hasn't. From what I have been told a verbal agreement is in place.

[SaintNeil90]

As I have already said. The PAYE has been paid. The VAT hasn't. From what I have been told a verbal agreement is in place.

 

No-one has said anything about a VAT bill. Its all about a 550k PAYE bill.

 

I also know a Wednesday fan who believes everything he is 'told'... he is also always wrong.

[tartanowl]

No-one has said anything about a VAT bill. Its all about a 550k PAYE bill.

 

I also know a Wednesday fan who believes everything he is 'told'... he is also always wrong.

 

What I was told came from the mouth of a respected member of the Supporters Trust. You may be right, it may turn out to be wrong, but I trust what he says. You can believe what you like. It doesn't bother me.

[tartanowl]

Latest Update:

 

SHEFFIELD Wednesday was given 28 days to settle its debts with the taxman today after a High Court registrar was told the football club had already made a "substantial payment".

Hugo Groves, representing the club, asked for the adjournment of a winding-up petition by Her Majesty's Revenue and Customs (HMRC) after saying money from the sale of players had been used to reduce the outstanding PAYE balance of £550,000.

 

"There are also very serious and advanced negotiations for the sale of the club," he told Mr Registrar Peter Nicholls.

 

HMRC said there had been "a very substantial payment of the debt" but more money was owed since proceedings began and was granted permission to amend the petition.

[SaintNeil90]

Why are we talking about Sheffield Wednesday... this is a Southampton forum last time I checked.

 

(Possibly I am biased, due to Blades connections + the wendy boy fans I know annoy me)

[tartanowl]

Why are we talking about Sheffield Wednesday... this is a Southampton forum last time I checked.

 

(Possibly I am biased, due to Blades connections + the wendy boy fans I know annoy me)

 

I don't see the problem? One of your members posted the thread I'm just responding. It's relevant to your season too as we are most likely going to be promotion rivals. It's not like every thread is about us...

 

Biased? What connections do you have to the snortbeasts?

[Whitey Grandad]

As I have already said. The PAYE has been paid. The VAT hasn't. From what I have been told a verbal agreement is in place.

 

'A verbal agreement is not worth the paper it's written on'

 

Thanks for the info and good luck with the hearing! We wouldn't want any unfair advantages over our rivals, would we?

[Deppo]

Can you rate all of the Sheffield Wednesday players on their performances on Saturday please tartanowl. Rate them each out of 10 and give a short summary of each players performance. Thank you.

[hasper57saint]

HMRC have shot themselves in the foot perhaps by failing to prosecute Pimpley...all bets are off when it comes to unpaid tax bills having any large effect on a football club's operations.

 

They DID prosecute Pimply but the JUDGE threw it out on a 'technicality' saying there 'is no way PFC can pay off the debt and therefore they are free to trade' The onus is now on the Administrator for all debts.The Revenue people are not happy bunnies I can assure you.

[RonManager]

Tickets now on sale

http://www.saintsfc.co.uk/page/TicketNews/0,,10280~2141919,00.html

[The Kraken]

Looks like Wednesday are in trouble again.

 

Sheffield Wednesday have been served with a winding-up order by Her Majesty's Revenue & Customs over tax owed, BBC Radio Sheffield reports.

 

It is the third time in three months that the club has faced such an order, which will be heard on 17 November.

 

Earlier this month the club were saved from administration after reaching an agreement with the Co-operative bank over an unpaid tax bill.

 

HMRC is seeking £600,000 from the League One club.

 

Following a fans forum on Wednesday, Owls chief executive Nick Parker claimed that an overseas oilfield company have offered 3600,000 to pay off some of the club's current debt.

 

But Parker refused to be drawn on whether or not the consortium was led by former goalkeeper and manager Chris Turner who recently resigned as Hartlepool boss.

 

However the Owls chief executive told the forum that the club's bank are confident of securing investment and that he and chairman Howard Wilkinson are pressurising them to do so.

 

Wednesday were relegated from the Championship last season, with the club estimating the drop into League One has already cost them 20% of last year's income.

 

Owls chairman Howard Wilkinson was not immediately available for comment.

[SNSUN]

Is this not good? If Wednesday were to get wound up, would our 3 points from Saturday get taken away? I know the answer's in the Pompey thread in the Lounge, I just don't want to crawl through it!

[Doctoroncall]

Yes they would go. But I'd expect administration to happen first if it is not paid.