SUFC: The Future SUFC up for sale

[londonblue]

I mean when they turn up, they're not very forgiving to the average person.

But a chairman/director repeatedly fails to fulfil their obligations with a company, and they get away with it time and time again.

Not sure of that. The thing is that this isn't HMRCs call. It's the court's. HMRC might well have dealt with things a long time ago, but the court keeps giving us 2nd chances.

 

[hlane17]

Not sure of that. The thing is that this isn't HMRCs call. It's the court's. HMRC might well have dealt with things a long time ago, but the court keeps giving us 2nd chances.

I'm aware it's down to the judge ultimately, I'm glad they're giving SUFC 2nd chances.

But directors with a long and decorated history of failure to pay should see greater consequences for that IMO.

Maybe the football white paper could see some changes in that respect for the football world at least, but I'm not convinced.

 

[Mick]

Can't comment with any certainty at all on this- I don't know the background. We may not have submitted audited accounts to CH, but for all I know have, nonetheless, submitted CT600 returns and relevant information further to a CT603 notice (in short completed the corporation tax returns supplying the relevant financial information to HMRC). We might not have audited accounts but accounts will have been made up. If late returns were automatically prosecuted in every case there would be 250,000+ prosecutions triggered every year in an overwhelmed justice system...And I suspect if there was a threat of criminal prosecution the audited accounts would have appeared pretty rapidly.

Yes, that's probably the problem with finding a compliant auditor !

 

[West Stand]

Can't comment with any certainty at all on this- I don't know the background. We may not have submitted audited accounts to CH, but for all I know have, nonetheless, submitted CT600 returns and relevant information further to a CT603 notice (in short completed the corporation tax returns supplying the relevant financial information to HMRC). We might not have audited accounts but accounts will have been made up. If late returns were automatically prosecuted in every case there would be 250,000+ prosecutions triggered every year in an overwhelmed justice system...And I suspect if there was a threat of criminal prosecution the audited accounts would have appeared pretty rapidly.

There is a significant difference between filing the relevant information on line to HMRC and filing accounts at Companies House.HMRCs mantra is file now check later whereas in respect of Companies House the requirements are al about agreed and if appropriate audited accounts.

HMRC will realistically be pursuing just one company in all this and that’s Southend Utd . So they will be looking at debt that is attributed to that entity

Companies House meanwhile will of course be looking at the filing history of SU and once those accounts are filed with them that will of course generate a couple of fines but and here’s the big but they will also certainly be looking at the actions or shall say lack of actions taken so in that respect they probably will be looking at 8+ companies of which RM is a director and the double digit number of failures to file on time.

You are probably would be right if the only company for which RM is a director was Southend then almost certainly they wouldn’t pay any attention but knowing how targets are set I wouldn’t be at all surprised if a chain of summonses were issued and don’t forget these will be directed at directors

 

[West Stand]

What do you mean by swift? That they turn up in really fast cars, or that they won't put up for it for long?

Given I know people who have gone years without paying tax before eventually being dealt with, I assume you mean the former.

HMRC will be prioritising cases based on value. The odd thousand here and there other than automated demands won’t get a lot of attention but as time goes by the debt will grow be it by virtue of penalties, interests any year links or determinations at some point it is likely the accumulated debt will reach the level where action is taken.

Companies / employers where PAYE debt accumulate monthly rise to the top of the work lists add to that the odd quarters VAT and it gets even closer attention.

I too know people that aren’t chased for years but when they do it’s really quite amusing because they blame everyone else other than looking in the mirror.

A very good friend of mine reached 66 in August he had been self employed for many a year did a significant amount of cash jobs . Never filed a return and certainly didn’t pay any Class 2 ( self employed ) NIC . Thought it was a big joke However.
When he got his state pension projection he was years short which weekly was about £60 short of the new state pension amount .

It was only when we talked about it he confessed to ignoring demands for annual NIC which would have only be a £100 or so a year .

Guess whose fault all this was ? Not his !

 

[kentblues]

There is a significant difference between filing the relevant information on line to HMRC and filing accounts at Companies House.HMRCs mantra is file now check later whereas in respect of Companies House the requirements are al about agreed and if appropriate audited accounts.

HMRC will realistically be pursuing just one company in all this and that’s Southend Utd . So they will be looking at debt that is attributed to that entity

Companies House meanwhile will of course be looking at the filing history of SU and once those accounts are filed with them that will of course generate a couple of fines but and here’s the big but they will also certainly be looking at the actions or shall say lack of actions taken so in that respect they probably will be looking at 8+ companies of which RM is a director and the double digit number of failures to file on time.

You are probably would be right if the only company for which RM is a director was Southend then almost certainly they wouldn’t pay any attention but knowing how targets are set I wouldn’t be at all surprised if a chain of summonses were issued and don’t forget these will be directed at directors

As I say I have no idea of the specific circumstances but I, by the same token, wouldn’t be remotely surprised if they don’t materialise.

What we would agree on I am sure is that we shouldn’t be in this situation…

 

[West Stand]

As I say I have no idea of the specific circumstances but I, by the same token, wouldn’t be remotely surprised if they don’t materialise.

What we would agree on I am sure is that we shouldn’t be in this situation…

You are 100% right there.

I know that there was a statement that two years accounts should be done and dusted by end of May and of course that should be welcome but I for one won’t believe it till I see it but even then there will be another years way overdue and in 10 weeks yet another year will have ended.

To be honest I have very limited experience of Those words are banned but I for one would run a country mile from a business that is so far in arrear of audited numbers

 

[kentblues]

You are 100% right there.

I know that there was a statement that two years accounts should be done and dusted by end of May and of course that should be welcome but I for one won’t believe it till I see it but even then there will be another years way overdue and in 10 weeks yet another year will have ended.

To be honest I have very limited experience of Those words are banned but I for one would run a country mile from a business that is so far in arrear of audited numbers

22 accounts we due end of April (9 months from year end- 31 July 22). So not way overdue I guess..

 

[West Stand]

22 accounts we due end of April (9 months from year end- 31 July 22). So not way overdue I guess..

Due between 1/8/22 and 30/4/23 overdue on 1/5/23.

To be fair at this point they are a just overdue but I suspect that before they are eventually produced they will be ay overdue.

 

[class]

Fines also double for successive missed deadlines at Companies House.

 

[West Stand]

Fines also double for successive missed deadlines at Companies House.

They do.

Its all the additional sums that are being added in respect of surcharges and penalties that will be hurting the most. Goodness knows how much that has added to the actual liabilities but they just grow and grow

 

[Medway Blue]

Which comes with fines, excessive audit fees, legal fees and interest.

Another example of Ron wasting your season ticket money. #ronsacrook

They do.

Its all the additional sums that are being added in respect of surcharges and penalties that will be hurting the most. Goodness knows how much that has added to the actual liabilities but they just grow and grow

Indeed. People wonder where the revenue the club generates goes. Well this is one of the things it goes on.

Add planning fees, legal fees, etc. to the list too.

 

[* ORM *]

We haven’t had a new rumour for around 14 hours

 

[Gt Yarmouth Shrimper]

so you think he dosent have anything to answer for i take it. What he has done to our football club is nothing short of criminal .But obviously you are an RM lover.

Read my post again, I neither said nor insinuated anything of the sort @stewart. But if that makes me, in your eyes only, a Ron lover, then fill your boots with your anger at me.

 

[Gt Yarmouth Shrimper]

Indeed. People wonder where the revenue the club generates goes. Well this is one of the things it goes on.

Add planning fees, legal fees, etc. to the list too.

Can't argue with that.

 

[stewart]

Read my post again, I neither said nor insinuated anything of the sort @stewart. But if that makes me, in your eyes only, a Ron lover, then fill your boots with your anger at me.

getting angry at people is a waste of energy mate, each to their own .

 

[mattytheshrimper]

Do we actually think Ron actually wants to accept investment / sell the club? Or is just another one of his ploys to get a very small amount of fans who actually complain about him off his back for a little while? Lets be honest it worked with a big percentage of the fanbase until another little dirty secret got out about yet another winding up order.

 

[Holy Joe]

Do we actually think Ron actually wants to accept investment / sell the club? Or is just another one of his ploys to get a very small amount of fans who actually complain about him off his back for a little while? Lets be honest it worked with a big percentage of the fanbase until another little dirty secret got out about yet another winding up order.

Yes I think Ron actually wants to sell - or rather he's realised he needs to sell.

 

[mattytheshrimper]

Yes I think Ron actually wants to sell - or rather he's realised he needs to sell.

I'm just not convinced he wants to personally, not because of his 'love' for the club but because he doesn't want to give up a big chunk of the pie. I think he's put it up for sale but making deliberately ridiculous demands knowing full well no one would ever agree to them.

 

[Holy Joe]

I'm just not convinced he wants to personally, not because of his 'love' for the club but because he doesn't want to give up a big chunk of the pie. I think he's put it up for sale but making deliberately ridiculous demands knowing full well no one would ever agree to them.

Theres always the risk that a mutually agreeable deal won't be reached. But unless there is currently any evidence of 'deliberately ridiculous demands' then, at the moment, that's just a conspiracy theory.

It's always possible that for every ridiculous demand a seller has there is an equally ridiculous demand from a buyer - that's where the selling agent will earn their fee, sorting out the serious buyers.