Pompey seem to be in a tad of bother

[Easy 10]

I want to know how so many football clubs and businesses manage to get out of paying their taxes? I don't have the same options available to me-I'm being hounded by HMRC at the moment for a trifling amount but they'll hang me out to dry if I don't pay-when they say. Meanwhile, football clubs don't pay them their VAT, National Insurance, and all other taxes they should be paying for frigging years and the bastards are allowed to walk away from their debts of millions. No matter what their creditors agree to-HMRC should squeeze them for every penny they are owed or seize their assets.

Now it seems as though Hull City will go into administration if they get relegated because they've over spent chasing the Premiershit dream. I really want The Albion to be playing in the top flight of English football-but not if it means ending up in the same financial shit as Portsmouth, and Hull, and Palarse, and Leeds, etc., etc.

Agreed.
What I STILL don't get, is how football (ie the FA / PL / FL) can somehow dictate that all FOOTBALL debts are at the front of the queue in this situation, and must be settled before all other debts, including the Revenue. Surely the law of the land should override this. Taxes are the FIRST thing that should be settled before anything else. How can football authorities possibly dictate otherwise ? How can this be allowed ?

So you get the ludicrous situation whereby the PL withhold Portsmouths TV money, diverting it to Chelsea to pay the remainder owing on the Glenn Johnson transfer fee, whilst PAYE remains unpaid.

madness.

 

[e77]

Being self employed. Portsmouth potentially getting out of paying so much tax is annoying. Any small business that is late paying tax gets jumped on (indeed I have paid tax bills and still received reminders) but the HMRC seem to bottle it when dealing with high profile cases.

 

[severnside gull]

Administrator this morning reports them to be £120m in debt - double the figure first reported!

 

[CHAPPERS]

Total claims against Pompey have risen to....£138.6m.

 

[itszamora]

Total claims against Pompey have risen to....£138.6m.

Avram's latest line is "only the players and fans have suffered." The other staff and the creditors don't count, then?

 

[hans kraay fan club]

I used to quite like Avram Grant. Turns out he's an utter c*nt.

 

[perseus]

I can't see them escaping going BUST! Well they are BUST already.

 

[adrian29uk]

Just heard to be the figure as 138 million according to Talksport. If this is the case, how the hell have did it ever get this bad.

I wonder what will happen to the club. I can see pompey doing a Luton.

I just hope we dont ever get in this situation.

 

[itszamora]

Just heard to be the figure as 138 million according to Talksport. If this is the case, how the hell have did it ever get this bad.

I wonder what will happen to the club. I can see pompey doing a Luton.

I just hope we dont ever get in this situation.

Problem is with all this extra debt that's magically appeared, HMRC's share of it is well below the amount they need to block a CVA. Thus Pompey will probably get away with paying about 20p in the pound to everyone - although that is still the thick end of £26-27 million.

 

[Barrel of Fun]

BBC Sport - Football - Portsmouth suffer fresh setback after HMRC appeal

Portsmouth have suffered a fresh blow after Her Majesty's Revenue and Customs lodged papers in an attempt to prevent the club coming out of administration.

Last month, Pompey saw a Company Voluntary Agreement (CVA) approved that would allow them to repay unsecured creditors 20p in the pound.

However, HMRC claims the amount it is owed allows it to block the CVA.

It means that Pompey will remain in administration and under a transfer embargo until the appeal is heard.


Excellent

 

[severnside gull]

hurrah

 

[hans kraay fan club]

 

[hans kraay fan club]

Last month, Pompey saw a Company Voluntary Agreement (CVA) approved that would allow them to repay unsecured creditors 20p in the pound.

However, HMRC claims the amount it is owed allows it to block the CVA.

It means that Pompey will remain in administration and under a transfer embargo until the appeal is heard.

And the club's administrator Andrew Andronikou, who had been anticipating HMRC's appeal, warned the case may not be heard until October or November.

That could severely hamper new manager Steve Cotterill's plans for the coming Championship campaign, though Andronikou noted the club would be able to sign players until their squad numbered at least 20 players.

Portsmouth currently have 18 players listed in their first-team squad.

For a CVA to be agreed, it must win the support of those owed at least 75% of the unsecured debt. The vote on 17 June saw the agreement win 81.3% of the vote.

But HMRC argues that £13m of debt was left out of the original calculations; if the £13m figure is included, says the HMRC, it would then have more than the 25% of the debt it needs to block the CVA.

"We are acting in the interests of all those creditors who are not in the football industry. We don't think it's right that they are offered 20p in the pound against full repayment all others," an HMRC spokesman told BBC Sport.

"HMRC feel we have been or will be unfairly prejudiced by the decision to accept the CVA, because we believe there were material irregularities in the way in which the votes of creditors were counted at the creditor meeting and because, to our knowledge, the full amount of our claim should have been admitted for voting purposes.

"Also we cannot agree with the striking out of £13m of debt which seriously undermined our ability to challenge the CVA."

BBC Sport understands the club could start the Championship season without any further points penalties, having been deducted nine points by the Premier League last campaign.

But the transfer embargo will be a problem for the south-coast club who were relegated from the Premier League last season following a campaign of complete turmoil.

Speaking on Wednesday before the news of the appeal was confirmed, Andronikou described the situation as an "irritant".

"It's going to be an irritant and, to put it simply, the embargo will stay for a longer period," said the administrator.

"As long as there is an appeal process, the registration embargo will continue to be in force for the foreseeable future.

"However, we expect any appeal hearing to be held in October or November. Before then, if the squad is below 20, we can still bring in players, regardless of the embargo. That is allowed and is something we are looking at."

 

[seagullsovergrimsby]

As the appeal hearing wont happen until Nov/Dec does this mean the FL has to impose a minimum 17 points deduction before the start of the season ?

 

[Left Footer]

fantastic, hope the cheating bastards suffer.

 

[warsaw]

Anyone else a bit surprised that Pompey are currently on a tour Stateside? A bit surprised they can afford it to be honest

 

[sten_super]

As the appeal hearing wont happen until Nov/Dec does this mean the FL has to impose a minimum 17 points deduction before the start of the season ?

Potentially; that's what happened to Bournemouth in 2008/09 when they started the season in administration. However what is more likely is that the FL will hold off on any punishment until the outcome of the appeal is known.

 

[severnside gull]

I wasa bit surprised that the article indicated that there would be no points penalty as my understanding is that a club starting the season in administration is subject to an automatic points deduction as with Southampton, Leeds, Bournemouth, Luton etc. Am I wrong or is Portsmouth a "special case"?

 

[beorhthelm]

BBC Sport understands the club could start the Championship season without any further points penalties, having been deducted nine points by the Premier League last campaign.

i noticed it too. is this just down to the author.. not understanding the rules, or will they escape the points penalty because technically they are under a CVA at the start of the season, albeit under challenge?

 

[Left Footer]

Says that they are signing Ibrahima Sonko on loan from Stoke for a year if the Football League allow them (transfer embargo at moment).
Really can`t understand how they can afford to go to the USA on tour. That money could be going to their creditors.