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Pre-Match Thread HMRC v SUFC - FINAL hearing on 1st March. DISMISSED

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Outcome of HMRC court case 1 March

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I can see that there could be a delay between receive bridging loan and paying wages. Payroll has to be run, money has to be received by payroll provider etc, I don't think that is an instant process. In my company I think any changes to payroll need to be 2 weeks before pay date. I'm not suggesting it will take 2 weeks, just that it wouldn't surprise me that it can't be done same day and more than likely take at least a day or 2
 
MattE said:
I can see that there could be a delay between receive bridging loan and paying wages. Payroll has to be run, money has to be received by payroll provider etc, I don't think that is an instant process. In my company I think any changes to payroll need to be 2 weeks before pay date. I'm not suggesting it will take 2 weeks, just that it wouldn't surprise me that it can't be done same day and more than likely take at least a day or 2
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A payroll can be run every day if you really wanted to. However normal process from sending a BACS file which instructs payment to be made is 2 working days unless you specify a date on the file in which payment should be made. Although a lot of companies will have a cut off date which often is 2 weeks before because of overtime payments etc. This allows the payroll team more time to check for anomalies such as under and overpayments
 
Surely Jan salaries should/could be paid first, followed by Feb a couple of days later? (If he has the Bridging Loan and going to use part of it to bail the club out)
 
MattE said:
I can see that there could be a delay between receive bridging loan and paying wages. Payroll has to be run, money has to be received by payroll provider etc, I don't think that is an instant process. In my company I think any changes to payroll need to be 2 weeks before pay date. I'm not suggesting it will take 2 weeks, just that it wouldn't surprise me that it can't be done same day and more than likely take at least a day or 2
Click to expand...
I used to run payroll as a trainee at a firm of accountants back in the 90's. There's no delay in processing. The monthly salaries would have been run at the time. Finance would only need the figure paid to each employee, and to meet the deadline for a BACS run.

My thoughts are if the money is available, reduce costs pay Jan and Feb as a lump (rather than two/three separate amounts) and which are due tomorrow.

Tuesday will be the indicator. Fingers crossed it's sorted.
 
I wonder if we are a 36 hours away from not having a club, more known uncertainty, a can kicked down the road or just maybe the beginning of a new era.
 
It sounds good on the surface that they may get their owed salaries with a bonus but it isn't always rosy. Players and staff may not want a lump some with a bonus attached as they'll get taxed hugely. The tax office think you're earning more than you actually are.

It happened to me in January. I got an amount up front that is normally spread out over the year, attached to each months salary and I lost almost half of it as a result of it being a lump sum. Sufficed to say, it wasn't in my control as I would have preferred it split over the commencing months. I'm sure the players and staff will feel the same. Yes I know, their owed wage with some heavy tax deductions is better than no pay at all, but it does make you wince when you think you're quids in but you end up getting stung. You end up taking home less with the bonus and seeing as they've waited so long, will hardly feel like it's been worth the wait.
 
Blues4LifeDan said:
It sounds good on the surface that they may get their owed salaries with a bonus but it isn't always rosy. Players and staff may not want a lump some with a bonus attached as they'll get taxed hugely. The tax office think you're earning more than you actually are.

It happened to me in January. I got an amount up front that is normally spread out over the year, attached to each months salary and I lost almost half of it as a result of it being a lump sum. Sufficed to say, it wasn't in my control as I would have preferred it split over the commencing months. I'm sure the players and staff will feel the same. Yes I know, their owed wage with some heavy tax deductions is better than no pay at all, but it does make you wince when you think you're quids in but you end up getting stung. You end up taking home less with the bonus and seeing as they've waited so long, will hardly feel like it's been worth the wait.
Click to expand...

It makes no difference with more tax being deducted at the time of payment, it will balance out over the period of annual pay (any larger deducations now due to assumptions will see tax refunds at a later date)

NI on the other hand will not and is payable each month based upon earnings, so they would take a hit on that element of deductons.
 
No new movement on Companies House for the following companies I looked at. Not sure if anything would need to be filed in relation to any loans.
  • SUFC Ltd.
  • RH Ltd.
  • South Eastern Leisure Ltd.
  • Elounda
  • Lenrose Capital
  • Lenrose Investments
 
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