Will the flood gates open now?????

[shrimperian]

Everything that I have read regarding the "debt" owed by the club mentions only the HMRC debt, which is in relation to unpaid VAT. It is inconceivable that this is the ONLY debt the club has, but it IS the only one referred to as being in line for settlement on Friday. So, knowing a little bit about business, my concern is that, once the HMRC bill is settled, every other creditor is going to be banging on the door looking for clearance....particularly if they sniff the chance that Administration is close.....they would then stand to get back only a proportion of their debt! So, Martin has turned down the consortium which would have cleared ALL debts, what happens when the other creditors come calling? and exactly how much do the club owe in total?

One final thing, it is said that the total amount of VAT owed is £2.35m, at a rate of 17.5% that is almost £13.5m capital sum....what the hell did we sell to attract such a VAT liability?

 

[McNasty]

One final thing, it is said that the total amount of VAT owed is £2.35m, at a rate of 17.5% that is almost £13.5m capital sum....what the hell did we sell to attract such a VAT liability?

That's quite a few pre-match Curry and Beer meals in the Collymore Suite.

 

[Billy Bests boot laces]

Everything that I have read regarding the "debt" owed by the club mentions only the HMRC debt, which is in relation to unpaid VAT. It is inconceivable that this is the ONLY debt the club has, but it IS the only one referred to as being in line for settlement on Friday. So, knowing a little bit about business, my concern is that, once the HMRC bill is settled, every other creditor is going to be banging on the door looking for clearance....particularly if they sniff the chance that Administration is close.....they would then stand to get back only a proportion of their debt! So, Martin has turned down the consortium which would have cleared ALL debts, what happens when the other creditors come calling? and exactly how much do the club owe in total?

One final thing, it is said that the total amount of VAT owed is £2.35m, at a rate of 17.5% that is almost £13.5m capital sum....what the hell did we sell to attract such a VAT liability?

I guess it all depends on how much Ron has been given from sainsburys?.

 

[shrimperian]

That would be a land transaction and therefore not subject to VAT. As far as I am aware, VAT is not charged on players transfer fees either, so it has to be ticket sales, merchandise or services

 

[Angell Delight]

One final thing, it is said that the total amount of VAT owed is £2.35m, at a rate of 17.5% that is almost £13.5m capital sum....what the hell did we sell to attract such a VAT liability?

I believe the VAT bill covers all VAT since 2007 though does it not mate? It's not just one season's worth.

 

[shrimperian]

It is said that it is 3 years old. Indeed, I beliee this would be in line with the timing. So we are looking at 2006/7 season. Even if it were more than one season, it is still a lot of income for a small club

 

[fbm]

I thought it was PAYE for the last 3 years?

 

[Uncle Leo]

That's quite a few pre-match Curry and Beer meals in the Collymore Suite.

:offtopic:

Anyone here tried that deal? I've been tempted but I want assurances that it's a good curry first.

 

[devonexile]

Everything that I have read regarding the "debt" owed by the club mentions only the HMRC debt, which is in relation to unpaid VAT. It is inconceivable that this is the ONLY debt the club has, but it IS the only one referred to as being in line for settlement on Friday. So, knowing a little bit about business, my concern is that, once the HMRC bill is settled, every other creditor is going to be banging on the door looking for clearance....particularly if they sniff the chance that Administration is close.....they would then stand to get back only a proportion of their debt! So, Martin has turned down the consortium which would have cleared ALL debts, what happens when the other creditors come calling? and exactly how much do the club owe in total?

One final thing, it is said that the total amount of VAT owed is £2.35m, at a rate of 17.5% that is almost £13.5m capital sum....what the hell did we sell to attract such a VAT liability?

More than likely to be unpaid National Insurance contributions. 7% of unpaid NI already collected from salaries plus unpaid employer contributions plus a bit of VAT and it's easy to run up 2 million plus.

 

[Napster]

:offtopic:

Anyone here tried that deal? I've been tempted but I want assurances that it's a good curry first.

So bad it left me in a korma.

 

[fixitkid]

I think we are avoiding some other debt at the mo. For example on friday they closed the bar in the west stand because they ran out of beer!!! trouble with the suppliers??

 

[Onion_Bag_Dave]

Oh no, another nickname, not only £1 club, but now p*** head southend!!!!! Running out of beer whatever next? No Cheese in the Cheese burgers, no conditioner for Ron 'mane' Martin?

 

[markw]

I think we are avoiding some other debt at the mo. For example on friday they closed the bar in the west stand because they ran out of beer!!! trouble with the suppliers??

this seems to be a common problem our su bar at uni consistently runs out of beer eveery night its not good

 

[TJC]

I agree. With the aftermath of our close shave (still shaving!) I think we need to get a better handle on the other debts we owe. I think most other debts are to current board members, so unlikely to be called in. Must be some external debt too though. What is our current indebtiness (pre Friday)?
I too thought that the debt in question was PAYE &/or NI. I'm told that messing with the VAT people is worse that HMRC, so I hope we are up straight there!

 

[Rusty Shackleford]

I'm told that messing with the VAT people is worse that HMRC, so I hope we are up straight there!

As the VAT people are part of HMRC, I think your point raises some interesting and possibly existential questions.

 

[bilbyboy]

Everything that I have read regarding the "debt" owed by the club mentions only the HMRC debt, which is in relation to unpaid VAT. It is inconceivable that this is the ONLY debt the club has, but it IS the only one referred to as being in line for settlement on Friday. So, knowing a little bit about business, my concern is that, once the HMRC bill is settled, every other creditor is going to be banging on the door looking for clearance....particularly if they sniff the chance that Administration is close.....they would then stand to get back only a proportion of their debt! So, Martin has turned down the consortium which would have cleared ALL debts, what happens when the other creditors come calling? and exactly how much do the club owe in total?

One final thing, it is said that the total amount of VAT owed is £2.35m, at a rate of 17.5% that is almost £13.5m capital sum....what the hell did we sell to attract such a VAT liability?

I wish i could answer the question, sadly i can't, i guess the only guy who could tell us is the chairman. Personally i think Ron Martin has put us, as a club in a very serious situation, i am in this for football, for a football team and club that i love, but look at the situation the club and team are in, we can only just muster a team for our next game. Ron Martin is no longer the man to lead us, the club and team need money, Mr Martin does not have that money, ok so maybe he has got the cash for the HMRC but he does not have the cash for the club or the team. Mr Martin in my opinion has taken us as far as he can, it is time for him to move over and let some real money people in so that Tilly & Brush can start to rebuild. UTB

 

[Onion_Bag_Dave]

Do you not think that, the Consortium's offer for the club, has changed the view on Ron. What i mean is, if the consortium had never made an offer to buy us, We'd be well happy with Ron saving us from administration. Not that it's definately paid yet.

Still fingers crossed though!

UTB!

 

[ibwiajwa]

So bad it left me in a korma.

Hope you don't have a dodgy tikka.

 

[markw]

Hope you don't have a dodgy tikka.

So bad it left me in a korma.

these are easily 2 of the worst jokes i have ever heard