Celebrating 25 years service to the Rugby League Community! |
| Quote: Tricky2309 "Presumeably the club take advice on taxation issues from the clubs solicitors/accountants and therefore assuming the problem is caused by bad advice re the interpretation of the tax laws, then the club may well have a claim against the Solicitors/Accountants concerned for the additional money we have been asked to pay. Both sets of professionals will have to carry Professional Indemnity Insurance as a requirement of their membership of their Professional Bodies (and this insurance is designed to cover such claims). The club would have to demonstrate the advice was negligent, but maybe this is why they can't comment further on the matter at this stage, as they don't want to have any adverse effect on their rights of recourse against their professional advisers. I appreciate that we are unlikely to be so lucky as to have this avenue to pursue, but we can live in hope!!!'" I doubt that this will be the case. Its more likely that we owed HMRC whether that be PAYE, VAT, Image Rights or Capital Gains Tax on the sale of the Ground and due to cash flow issues have failed to pay the Revenue. The Revenue then issues a High Court Writ seeking payment. We then make an initial lump sum payment (possibly the Atkins money)and the Revenue agree that we pay off the remainder by installments. Provided we pay whats outstanding we are fine, fail to pay and the Revenue will "wind us up". No one beats the TaX Man.
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I don't know if this has been said already, but here is a case very similar to our ownhttp://news.bbc.co.uk/sport1/hi/football/teams/n/notts_county/8351449.stmrl this relates to PAYE and VAT submissions.
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Quote: Khlav Kalash "www.hmcourts-service.gov.uk/cms/list_companies_winding.htm 18567 /2009 Halifax Rugby League Football Club Limited So that’s Halifax too at the mercy of the taxman.'" Lets hope they can get through this time they've had an awful last couple and years and as soon as things were looking up, they might be looking at winding down
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