according to talksport (tax issue)

Graham Lloyd said the club will offer to pay 1/2 million tomorrow and the rest in 8 weeks. where will the rest come from ? takeover

how much did we sell the land 4 thought all of it covered the tax bill

how much did we sell the land 4 thought all of it covered the tax bill

the money for the house of sport land does not come in until the end of this week

how much did we sell the land 4 thought all of it covered the tax bill

the money for the house of sport land does not come in until the end of this week

Steve, doesnt the money for the land come off the money owed to Steve Borley

how much did we sell the land 4 thought all of it covered the tax bill

the money for the house of sport land does not come in until the end of this week

I thought we werent getting anything for the house of sport. Isnt it just going to cut the clubs debt to Steve Borley.

Also, its been mentioned on here that the money from PMG isnt actually coming into the club but just being taken against their debt. Is this true ?

Graham Lloyd said the club will offer to pay 1/2 million tomorrow and the rest in 8 weeks. where will the rest come from ? takeover

The amount is what I told yesterday

but the club do not know yet if the HMRC will agree

Graham Lloyd said the club will offer to pay 1/2 million tomorrow and the rest in 8 weeks. where will the rest come from ? takeover

The amount is what I told yesterday

but the club do not know yet if the HMRC will agree

I find that last part astounding Carl. I would have thought there would have been intimate dialogue between ourselves and HMRC, leaving us in no doubt whatsoever what is and is not acceptable. While I should imagine the likelihood is a shorter term deferral and part payment, if we have no idea what is deemed acceptable, that does open up the possibility of some hard ball being played tomorrow, something I did not think would be the case.

the money for the house of sport land does not come in until the end of this week[/quote]
Steve, doesnt the money for the land come off the money owed to Steve Borley [/quote

carl

steve will use part of the money to pay the tax bill and the rest to build and complete the house of sport.
this way the tax gets paid the clubs debt to steve is paid off and steve has an asset of 3.5 million on his books as oppossed to a 1.5m defecit to the football club.

the club then has the opportunity to purchase the house of sport back off steve for the 3.5 million within twelve months of it being built.

hopefully if new investors come in thats what will happen as the house of sport will more importantly be home to our football acadamy as the wru has bought the existing facilities that the acadamy use.
therefore the house of sport is doubley important with regards to us keeping our acadamy status.
The club would also use these facilities as oppossed to paying rent to the vale.

the money for the house of sport land does not come in until the end of this week

Steve, doesnt the money for the land come off the money owed to Steve Borley [/quote

carl

steve will use part of the money to pay the tax bill and the rest to build and complete the house of sport.
this way the tax gets paid the clubs debt to steve is paid off and steve has an asset of 3.5 million on his books as oppossed to a 1.5m defecit to the football club.

the club then has the opportunity to purchase the house of sport back off steve for the 3.5 million within twelve months of it being built.

hopefully if new investors come in thats what will happen as the house of sport will more importantly be home to our football acadamy as the wru has bought the existing facilities that the acadamy use.
therefore the house of sport is doubley important with regards to us keeping our acadamy status.
The club would also use these facilities as oppossed to paying rent to the vale.[/quote]


That doesnt tie up with what was announced at the EGM Steve.

Only £450k being charged for the Land being bought by SB and that being used to cut the clubs liability to him.

SB then has to find £3.5m to build it, but this wont be money coming into the club.

The contingent liability (which isnt actually been shown on the clubs balance sheet, only as a note to the accounts) of £3.5m to build the HOS can now come off the clubs books, which is good news for the club but doesnt help cashflow.

but the club do not know yet if the HMRC will agree

I find that last part astounding Carl.

I find this quite frightening and it seems as if PR is treating as a fool. He is batting all debts away with promises he doesn't even know he can follow through with.

carl

steve will use part of the money to pay the tax bill and the rest to build and complete the house of sport.
this way the tax gets paid the clubs debt to steve is paid off and steve has an asset of 3.5 million on his books as oppossed to a 1.5m defecit to the football club.

the club then has the opportunity to purchase the house of sport back off steve for the 3.5 million within twelve months of it being built.

hopefully if new investors come in thats what will happen as the house of sport will more importantly be home to our football acadamy as the wru has bought the existing facilities that the acadamy use.
therefore the house of sport is doubley important with regards to us keeping our acadamy status.
The club would also use these facilities as oppossed to paying rent to the vale.[/quote]


That doesnt tie up with what was announced at the EGM Steve.

Only £450k being charged for the Land being bought by SB and that being used to cut the clubs liability to him.

SB then has to find £3.5m to build it, but this wont be money coming into the club.

The contingent liability (which isnt actually been shown on the clubs balance sheet, only as a note to the accounts) of £3.5m to build the HOS can now come off the clubs books, which is good news for the club but doesnt help cashflow.[/quote]


i agree with what you say about the egm mower but this is steve's way of helping the club out again.
with steve building the hos this removes another obstacle for possible investors as the hos has to be built by december 31st this year or the land would have reverted back to the council.
im sure no investor would have wanted to plough money in to the club to find out they need to add 3.5 million to their takeover budget for something that should have been completed at the same time as the stadium.
on the bright side this deal will mean our chairman will not be eligible for his hos completion bonus which is a shame

That doesnt tie up with what was announced at the EGM Steve.

Only £450k being charged for the Land being bought by SB and that being used to cut the clubs liability to him.

SB then has to find £3.5m to build it, but this wont be money coming into the club.

The contingent liability (which isnt actually been shown on the clubs balance sheet, only as a note to the accounts) of £3.5m to build the HOS can now come off the clubs books, which is good news for the club but doesnt help cashflow.[/quote]


i agree with what you say about the egm mower but this is steve's way of helping the club out again.
with steve building the hos this removes another obstacle for possible investors as the hos has to be built by december 31st this year or the land would have reverted back to the council.
im sure no investor would have wanted to plough money in to the club to find out they need to add 3.5 million to their takeover budget for something that should have been completed at the same time as the stadium.
on the bright side this deal will mean our chairman will not be eligible for his hos completion bonus which is a shame[/quote]


I totlly agree that he's helped the club with this deal Steve. I also note that he asked if anyone else wanted 'in' on it at the AGM and it went silent.

I just wonder if its true that PMG will NOT be handing over the cash for THEIR land and if so, where will the money come from to pay the balance of the tax ?

That doesnt tie up with what was announced at the EGM Steve.

Only £450k being charged for the Land being bought by SB and that being used to cut the clubs liability to him.

SB then has to find £3.5m to build it, but this wont be money coming into the club.

The contingent liability (which isnt actually been shown on the clubs balance sheet, only as a note to the accounts) of £3.5m to build the HOS can now come off the clubs books, which is good news for the club but doesnt help cashflow.

i agree with what you say about the egm mower but this is steve's way of helping the club out again.
with steve building the hos this removes another obstacle for possible investors as the hos has to be built by december 31st this year or the land would have reverted back to the council.
im sure no investor would have wanted to plough money in to the club to find out they need to add 3.5 million to their takeover budget for something that should have been completed at the same time as the stadium.
on the bright side this deal will mean our chairman will not be eligible for his hos completion bonus which is a shame[/quote]


I totlly agree that he's helped the club with this deal Steve. I also note that he asked if anyone else wanted 'in' on it at the AGM and it went silent.

I just wonder if its true that PMG will NOT be handing over the cash for THEIR land and if so, where will the money come from to pay the balance of the tax ?[/quote]


pmg have paid their monies over and it went on the first instalment to the revenue

pmg have paid their monies over and it went on the first instalment to the revenue[/quote]


So they paid it over BEFORE the EGM ?

pmg have paid their monies over and it went on the first instalment to the revenue

So they paid it over BEFORE the EGM ?[/quote]


dont know the exact date mower but i can see where you want to go with this but i would assume there were already enough proxy votes in place and of course time was of the essence.
I never eally understand why city fans have such a downer on pmg because without them the club would have sunk without trace in sams era.
they were funding the club for 6 months prior to sams departure and made the shortfall up in the stadium build fund to ensure the project could go ahead.
sure they have made money off the retail park but no one else came forward at the time to provide the funds and why should they make the club a charity case.
People moan about them having securities over the players and premium seats etc but who in their right mind would lend that amount of money without security
what bank would give you a mortgage without making sure they have security over the property if you default.

Steve I will reserve my judgment on them for around thirteen hours - if we walk out of court tomorrow with fifty two points and a team to watch in the long term - if not they can go screw themselves

Why should the tax people accept a payment plan? We don’t stick to them do we?
I reckon they'll give us a couple of weeks like Pompey.

pmg have paid their monies over and it went on the first instalment to the revenue

So they paid it over BEFORE the EGM ?

dont know the exact date mower but i can see where you want to go with this but i would assume there were already enough proxy votes in place and of course time was of the essence.
I never eally understand why city fans have such a downer on pmg because without them the club would have sunk without trace in sams era.
they were funding the club for 6 months prior to sams departure and made the shortfall up in the stadium build fund to ensure the project could go ahead.
sure they have made money off the retail park but no one else came forward at the time to provide the funds and why should they make the club a charity case.
People moan about them having securities over the players and premium seats etc but who in their right mind would lend that amount of money without security
what bank would give you a mortgage without making sure they have security over the property if you default.[/quote]


Steve. I've got an open mind about PMG. I dont have an agenda honestly -apart from I've got no faith in PR and want him to leave. I agree with you ref the securities. They are quite within their rights to cover their asses, and as this is probably the biggest project they've been involved in could well have been dealt a massive blow if the development had gone tits up, which it threatened to do.

Its just what you wrote contradicted what was said at the EGM and subsequently what has been posted on here ref the proceeds of PMG's land deal. I'm just trying to tie it all up to work out what our chances are of completing the season without asmin.

pmg have paid their monies over and it went on the first instalment to the revenue

I thought we were told the season ticket money was used fir the first installment. What happened to the season ticket money?with what I thought I knew about all these deals this thread has completely confused me.

pmg have paid their monies over and it went on the first instalment to the revenue

I thought we were told the season ticket money was used fir the first installment. What happened to the season ticket money?with what I thought I knew about all these deals this thread has completely confused me.

Season ticket money went on wages..

how much did we sell the land 4 thought all of it covered the tax bill

the money for the house of sport land does not come in until the end of this week

I thought we werent getting anything for the house of sport. Isnt it just going to cut the clubs debt to Steve Borley.

Also, its been mentioned on here that the money from PMG isnt actually coming into the club but just being taken against their debt. Is this true ?

yes.

pmg have paid their monies over and it went on the first instalment to the revenue

I thought we were told the season ticket money was used fir the first installment. What happened to the season ticket money?with what I thought I knew about all these deals this thread has completely confused me.

Season ticket money went on wages..

start selling more ST then, 2010/11/12/13/14.............

Believe it or not the request for 8 weeks to repay the HMRC balance is linked to us making the play offs and new season ticket sales.

The club will rise £700,000 from our home semi-final tie and that will go towards the final settlement with season tickets making up the rest.

PR again banking on 'possible' future incomes.

The man is a prick

Believe it or not the request for 8 weeks to repay the HMRC balance is linked to us making the play offs and new season ticket sales.

The club will rise £700,000 from our home semi-final tie and that will go towards the final settlement with season tickets making up the rest.

PR again banking on 'possible' future incomes.

If that's the case the taxman will laugh at him and wind us up today.

I reckon in private PR has told the tax man all the high earners will be sold in the summer.
Will the taxman accept it though.

I reckon in private PR has told the tax man all the high earners will be sold in the summer.
Will the taxman accept it though.

No because he knows most other clubs are in the shit as well he keeps taking them all to court