inland revenue

[fosters headband]

Harty in the phone in, implied the near 2 mill we recieved during the close season has been paid to the inland revenue.
I maybe wrong, but my calculation is that we have spent only approx £200,000
If the club has had to pay a large tax bill, why dont they come out and say it. At least the fans wont keep on about spending money on players that is no longer there.
Its very frustrating supporting this club.

 

[Ernest]

What did I say three weeks ago ? Yet was shot down by the Dick Tight arselickers

 

[Lokki 7]

The capital gains tax from the sale of the Goldstone has been hanging around our necks for sometime. I'm no accountant but basically I don't think we can put them off any longer. This has never been a secret issue, but as the club are trying to avoid making this payment it is clearly not something they are going to shout about.
It's very frustrating that the ill informed fans of this football club come on public forums criticising the board for no good reason. Either back your comments up with evidence or quit your pathetic whinging.

 

[dougdeep]

The alterations to Withdean will cost over £500,000. It has to come from somewhere.

 

[fosters headband]

The capital gains tax from the sale of the Goldstone has been hanging around our necks for sometime. I'm no accountant but basically I don't think we can put them off any longer. This has never been a secret issue, but as the club are trying to avoid making this payment it is clearly not something they are going to shout about.
It's very frustrating that the ill informed fans of this football club come on public forums criticising the board for no good reason. Either back your comments up with evidence or quit your pathetic whinging.

If thats what has happened Lokki then fine, but why would it be a secret that we have paid this money.
All the fans would know where the money has gone and stop further speculation about buying players. I think thats called communication. And by the way you dont even know if its fact we have paid it.

 

[Lokki 7]

If thats what has happened Lokki then fine, but why would it be a secret that we have paid this money.
All the fans would know where the money has gone and stop further speculation about buying players. I think thats called communication. And by the way you dont even know if its fact we have paid it.

Firstly, again, its not a secret. Secondly, I never said we HAVE paid it. It is a bill thats been sitting on our doormat for several years. I don't believe we have paid it yet, but it looks increasing likely that we will have to at some point soon so of course money has to be earmarked now to cover it. Thirdly, it is the job of the board to run the finances of this club. They are more open than most clubs, and if you want to check the accounts they are available to every member of the public that wants to view them. I don't believe it is the job of the board to report every single financial issue they come across to you and me on a daily basis. If you want to be better informed, why not try writing to DK or MP? Why not request the accounts from companies house? Probably because you are too busy sitting on your arse moaning.

 

[m20gull]

What did I say three weeks ago ? Yet was shot down by the Dick Tight arselickers

Go back and read the thread again.

 

[Harty]

I didn't imply it had all gone, what I said to the caller who came on and claimed I constantly sucked up to the club, (Dick Knight lol at that one in Hull car park afterwards) and asked where the Virgo and Harding money had gone was that some of it had gone out of the club almost straight away.
Basically whilst Mark McGhee will get some more of the money to spend on the squad, a considerable amount and by that we could be talking well in excess of 6 figures has gone to those lovely blokes at the Revenue in Worthing.
(Because if you don't pay what you owe them eventually they will close your club down. its called a winding up order, and my contact at the Revenue says they are looking for a club to make an example of because a large number are well behind with PAYE)

 

[Lawro's Lip]

If this is the case, and why shouldn't it be, it would not cost the club anything to make it public. It might even let other clubs know that we are not suddenly loaded with money when we are involved in future transfer negotiations and stops all the 'wheres the money gone' speculation.

 

[m20gull]

Is this rocket science? At the start of Alive & Kicking we owed about £2m. We had the extension to the inquiry which cost about £400K. A&K raised about £300K.

With only about £2m in in player fees, did anyone expect to see much of it?

 

[dougdeep]

The next few years was always going to be about keeping the team ticking over, until we get our new stadium. I don't expect to see much in the way of success or entertainment until then. I just hope we can fill the new seats at Withdean if we go into freefall.

 

[fosters headband]

Is this rocket science? At the start of Alive & Kicking we owed about £2m. We had the extension to the inquiry which cost about £400K. A&K raised about £300K.

With only about £2m in in player fees, did anyone expect to see much of it?

Ok you think we owed close to 2 Mill.
We as you say recieved £300k form alive and kicking fund and we recieved up font £1.5 mill for Virgo and to date £250k from the Harding transfer with more to come. £200K Currie and £250k for Cullip and we also recieved the £250k from coca cola.
I make that a total of £2,750,000 which leaves us debt free and £750,000 to spend Wonderfull. We have to date spent top estimate £200,000 on CKR and the Argie.
Enough I think to buy at least one good midfielder.

 

[rool]

You forgot the spurs money but also the fact that we have undoubtedly incurred more operating losses along the way as the original 2 Million debt is ever growing.

 

[dunno]

I thought we owed more than 2 million - the Alive & Kicking fund was set up to raise £2 million to keep the club going in the short-to-medium term

 

[Happy Seagull]

No matter how much we owe, it would be money well spent buying a decent midfielder, and getting Oatway out of the team.

 

[Tom Hark Preston Park]

The capital gains tax from the sale of the Goldstone has been hanging around our necks for sometime. I'm no accountant but basically I don't think we can put them off any longer.

It just seems so very very WRONG that the individual directors who directly profited from the sale of the Goldstone don't get lumbered with the capital gains tax. And if the club HAS used the transfer monies to pay off the Revenue, then so much the better IMHO. One less millstone round the neck, one more bit of breathing space.

 

[Yorkie]

Or we could be 60 million in debt like Coventry?

 

[The Great Cornholio]

Ok you think we owed close to 2 Mill.
We as you say recieved £300k form alive and kicking fund and we recieved up font £1.5 mill for Virgo and to date £250k from the Harding transfer with more to come. £200K Currie and £250k for Cullip and we also recieved the £250k from coca cola.
I make that a total of £2,750,000 which leaves us debt free and £750,000 to spend Wonderfull. We have to date spent top estimate £200,000 on CKR and the Argie.
Enough I think to buy at least one good midfielder.

What colour is the sky in your world? A world where no wages, signing on fees, agents fees, National Insurance, Insurance, Tax, Building Costs, Interest, Police Bills, Stewarding Costs, Travel and Hotel costs and much, much more, never have to be paid?

 

[m20gull]

I thought we owed more than 2 million - the Alive & Kicking fund was set up to raise £2 million to keep the club going in the short-to-medium term

Total debts were close to £10m at July 2003, but £2m was short term, i.e due less than 12 months

 

[m20gull]

Ok you think we owed close to 2 Mill.
We as you say recieved £300k form alive and kicking fund and we recieved up font £1.5 mill for Virgo and to date £250k from the Harding transfer with more to come. £200K Currie and £250k for Cullip and we also recieved the £250k from coca cola.
I make that a total of £2,750,000 which leaves us debt free and £750,000 to spend Wonderfull. We have to date spent top estimate £200,000 on CKR and the Argie.
Enough I think to buy at least one good midfielder.

All the Coca-Cola money is earmarked for CKR to include wages, that's about another £150K.

What about the public enquiry extension? At least another £300K.

Interest on short term debt? Another £200K over 2 years, at least.

How much of the £750K have you got left now?

And that's assuming we got all of the headline money on the sales - and the players' agents got nothing.

I'm not saying McGhee's getting nothing, but it would be understandable if it was close to that.