HMRC would only know if any PAYE tax is outstanding for the 2011-12 tax year once the P35 en of year cert is in at the year end which the employer has until the 19th May to submit,

And then HMRC have a Business Payment Supprot Unit in place to help businesses pay over any tax overdue

It clearly seems more to be to do with the image rights

More from YP:

"“But we need £1m for the short-term after some unexpected issues came up regarding our tax bill involving image rights.

....The legal issue surrounds the complicated compensation deal agreed with Leeds Rhinos over the Iestyn Harris saga."

Am I reading this right? We have copped a huge and unexpected further image rights tax bill based on the money we paid Leeds by way of compo? How can that be?

And why are we all having to try to work out all the details and reasons like this, why won't the Bulls just come totally clean and tell us what EXACTLY the problem is?

NOT secured by fixed charge against the stadium. Only a floating charge. And in any case, as I pointed out elsewhere I very much doubt the stadium lease ranked highly on the banks valuation of its security, since if the club became insolvent then the head lease would almost certainly have been voided and been worthless!!!

I very much suspect that the excuse given by the bank, to try and avoid a PR disaster, was at best smoke and mirrors. For the above reason. Rather, I suspect they used the one-off income receipt (and maybe concern over the unpaid taxes) as an excuse to reduce their exposure.

I'd just add that, several years ago when I was negotiating a bank facility renewal with RBS for several £m, the manager - a keen RL fan - told me RBS had no appetite for lending to RL clubs and were keen to exit the sector as they were seen as very poor credit risks. And that was before the economy went down the toilet.

Mate, leave it?

It's another of these "secret deals". Like Orford's compensation, etc.
If we are getting stung again for the Harris deal, then it really is almost beyond belief.

Because the board love treating it's loyal fans who it's trying to beg money off like mushrooms.

But why the f**k they can't tell us the truth is beyond me. Now, when they need the support of the public, come clean and let us know what is going on, for once.

Maybe because telling the whole truth might be commercially and legally sensitive?

Guessing - not based on any actual knowledge.

Yeah, it's a good one that: "legally we are not allowed to reveal the details." Saved the Bulls from many an embarassing admission.

It's a cop out.

Agreed but all where getting it might be this it might be that which just isn't good enough when your begging money from the fans because how inept you have been.

You guys know for certain that the club is not prevented from disclosing ever single piece of relevant confidential or sensitive information?

I'm not making excuses for the club. There remains much that still needs better explaining, IMO.

Yep. May I go one step further and suggest that Hood has a downright bloody cheek?

We don't want to know every detail. But we would like to know more than's been drip feed by the Billy brigade at the club.

I can only but agree with the need for some more information.

I know the club reads the relevant forums. I think they will have seen that there are quite a few people who would be more likely to give their support if they felt they had received a few more straight and specific answers to just how we got in this mess, and just how bad it really is. It looks like some are also looking for a display of public [imea culpa[/i, but I'm not sure that would add much at this time. Hold the inquest after the ship has been saved, IMO.

This is aimed mainly at Peter Hood, btw, since I presume he will make the final decisions about what is or is not allowed to be said.