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And We Thought We Were In Money Trouble



Rookie

Greetings
Feb 8, 2005
12,324
don't get why the CSA are on there, how can a company owe money to them? Or is it a different CSA
 




Gazwag

5 millionth post poster
Mar 4, 2004
30,745
Bexhill-on-Sea
Rookie said:
don't get why the CSA are on there, how can a company owe money to them? Or is it a different CSA

I would assume the club deducted money from an employee which they have not then paid over to the CSA.
 


Rookie

Greetings
Feb 8, 2005
12,324
makes sense, hadn't thought of it that way never had any contact with the CSA don't know how it works!
 


Gazwag

5 millionth post poster
Mar 4, 2004
30,745
Bexhill-on-Sea
Rookie said:
makes sense, hadn't thought of it that way never had any contact with the CSA don't know how it works!

Its fairly common for people owing council tax, or other debts where the court orders deductions from somebodies salary to ensure the money gets paid, although if the employer fails to pay it over then thats quite serious.

I would imagine it is fairly embarrassing for the employees concerned though, being named like that.
 


Springal

Well-known member
Feb 12, 2005
24,785
GOSBTS
o2 £30 debt is quality
 






Scoffers

Well-known member
Jan 13, 2004
6,868
Burgess Hill
Why would the football league withhold those funds, surely if Boston are entitled to the money, they should receive it.

Anyone care to explain that to a thicko like
me? :dunce:
 


Gritt23

New member
Jul 7, 2003
14,902
Meopham, Kent.
MYOB said:
It says CSA - Brad Maylett (http://en.wikipedia.org/wiki/Brad_Maylett) so we can take it you're entirely right - they were holding back his CSA payments... and keeping them.

Not necessarily. It could just be a timing thing. You'd always deduct it before paying it over to the CSA, so at anytime in a month, the intervening period you would technically have an outstanding creditor balance to the CSA.

We have payday on the 26th, and then a cheque run on the 1st, so we would always have that situation for a few days. It doesn't mean they are NOT paying it over.
 




Rougvie

Rising Damp
Aug 29, 2003
5,131
Hove, f***ing ACTUALLY.
Yorkie said:
We had to pay off the Capital Gains tax last year because the Inland Revenue wouldn't give us any more time for a stadium.

Why should they, they are not a charity !
 


Dave the OAP

Well-known member
Jul 5, 2003
46,762
at home
Simple....build a ground, move the asset and liquidate the company a la Leicester City. make sure whilst you are doing it you bankrupt many local businesses and guess what...the FA award you with an International match at your Stadium.

:censored: :censored: :censored: :censored: :censored: :censored: :censored:
 


Yorkie

Sussex born and bred
Jul 5, 2003
32,367
dahn sarf
Rougvie said:
Why should they, they are not a charity !

I didn't say they were. My point was that one of our creditors called in their debt. The others didn't all leap in (see the post prior to mine)
 




Rougvie

Rising Damp
Aug 29, 2003
5,131
Hove, f***ing ACTUALLY.
You cant compare us to Boston, some of those Bills havent been paid for 4 years.

Most of our creditors are relatively happy, and our financial arangement with the bank is supposed (if you believe DK) to be a good one.
 


Dave the OAP

Well-known member
Jul 5, 2003
46,762
at home
Yorkie said:
I didn't say they were. My point was that one of our creditors called in their debt. The others didn't all leap in (see the post prior to mine)

to be fair, the Tax man had posponed the CGT since the date the accounts for the sale of the Goldstone was sold. the negotiation was based on the fact that we would get a stadium withing 3 to four years.......

I think the Tax man was remarkably good to us and could quite easily have said ..bog off pay us now.
 


Yorkie

Sussex born and bred
Jul 5, 2003
32,367
dahn sarf
Dave the Gaffer said:
to be fair, the Tax man had posponed the CGT since the date the accounts for the sale of the Goldstone was sold. the negotiation was based on the fact that we would get a stadium withing 3 to four years.......

I think the Tax man was remarkably good to us and could quite easily have said ..bog off pay us now.

Exactly.
 




Kinky Gerbil

Im The Scatman
NSC Patron
Jul 16, 2003
58,792
hassocks
Gritt23 said:
Nice to see the Football League supporting a club in trouble. :angry:

Blimey, what would happen to a Premiership club if the Premier League decided that they didn't like the stability of a clubs finances - Leeds a few years back perhaps - and as a result held back their TV money?


From BBC.co.uk
League withholds Boston payment

Troubled Boston United have had their share of a cash hand-out withheld by the Football League.
Around £100,000 normally paid to League Two clubs from television and sponsorship revenues has not been paid due to "uncertainties" at York Street.

A Football League spokesman said: "As in previous cases of this kind, the League has withheld the payment.

"This is due to current uncertainties as well as the club's outstanding debts to the League and fellow clubs."

Boston, who have reported debts of over £1m and are two months behind in paying staff wages, are due to meet creditors on Wednesday.

The club, who are struggling to avoid relegation into the Conference, are thought to be considering going into a Company Voluntary Arrangement in a bid to stave off possible liquidation.

However, any decision is likely to be delayed until after the season finishes to avoid incurring an immediate 10-point penalty, which would send them down.

Boston had less then 11 fully fit professional players for their game against Chester City last Saturday and could name only three substitutes.

They have also travelled to some recent away games in cars to cut costs.

Yep, its the FA'S fault.
 














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