Ridsdales own little tax problem

It goes to prove what a useless businessman this individual is.

Firstly, he set up WH Sports merely as a vehicle to receive payments for his consultancy work for the club - a sensible thing to do for him as his tax liabilities would be significantly less than if his "Wages and bonuses" were paid as a salary, whereby he would have a 40% tax liability.

However, this "vehicle" would have had very little in the way of outgoings - no employees, only him & his Mrs - his fellow director, very little to spend on costs of running or maintaining the company - his office, no doubt, being the study in his mansion.

This is borne out by the fact that when wound up the vast majority of his liabilities were owed to, who else but HMRC.

So, he has been taking his consultancy fee from the club and the silly boy has been ignoring the taxman and not setting aside any of his fees to pay his tax liability.

I assume that the amount he owes to the taxman includes VAT as he would have been having to charge VAT on the sort of fees he ws charging us - or has the VAT man not had his little go at them yet?

It all goes to show he is totally incompetent on a personal level as a business man, yet he is let loose to run our club and does it in the same manner as he runs his personal affairs.

How can our board possibly have any confidence in him?

It really does beggar belief. Get rid of the wretched individual before he causes more damage and destruction - he's now a desperate man and as we know desperate men could do desperate things at tmes like this.

Watch him carefully, he is capable of untold further damage.

It goes to prove what a useless businessman this individual is.

Firstly, he set up WH Sports merely as a vehicle to receive payments for his consultancy work for the club - a sensible thing to do for him as his tax liabilities would be significantly less than if his "Wages and bonuses" were paid as a salary, whereby he would have a 40% tax liability.

However, this "vehicle" would have had very little in the way ou outgoings - no employees, only him & his Mrs - his fellow director, vert little to spend on costs of running or maintaining the company - his office, no doubt, being the study in his mansion.

This is borne out by the fact that when wound up the vast majority of his liabilities were owed to, who else but HMRC.

So, he has been taking his consultancy fee from the club and the silly boy has been ignoring the taxman and not setting aside any of his fees to pay his tax liability.

I assume that the amount he owes to the taxman includes VAT as he would have been having to charge VAT on the sort of fees he ws charging us - or has the VAT man not had his little go at them yet?

It all goes to show he is totally incompetent on a personal level as a business man, yet he is let loose to run our club and does it in the same manner as he runs his personal affairs.

How can our board possibly have any confidence in him?

It really does beggar belief. Get rid of the wretched individual before he causes more damage and destruction - he's now a desperate man and as we know desperate men could do desperate things at tmes like this.

Watch him carefully, he is capable of untold further damage.

For your info Crosey this is the break down of Assets/Liabilities of WH Sports

Trade and Expense Creditors £9,900.00
Barclay's Bank PLC £26,444.62
HMRC - Corporation Tax £146,662.95
HMRC - PAYE/NI £111,253.42
HMRC - VAT £115,638.83

Total: £409,899.82

Total Assets £22,592.00

Amount Outstanding £387,307.82

Source Companies House

Tony - many thanks for that - incompetence proved.

But you have to question is it just incompetence - is there something a little darker than just sheer incompetence behind this.

Was there ever any intention of the Directors of WH Sports to pay their tax liabilities to HMRC?

Now that starts straying into the area of fraud rather than of incompetence.

I'm not suggesting for one moment that Mr or Mrs Ridsdale have acted fraudulently........

But it would be interesting to see the authorities views on this.

I believe that there is such a thing as criminal incompetance which can be prosecuted as though it was fraud. It is hard to prove, but there again when the evidence is slapping you in the face....

I'm not suggesting for one moment that he has been criminally incompetent. Totally incompetent maybe.

But as you say figures don't lie.

I run a business and as anyone know's the main thing is to keep the VAT man and the tax man off your back, after that, as long as you are a competent businessman it's fairly plain sailing.

How can someone run a business without setting aside what the tax / vat man is due defies belief.

As they say the only things guarunteed in this world is tax and death.

I don't think there's any doubt. Ridsdale's hanging on in there to take as much out of CCFC in the next few months so he can pay off his own debts.

It's becoming hard to believe that there actually other people on the Board.

he's sinking fast

It goes to prove what a useless businessman this individual is.

Firstly, he set up WH Sports merely as a vehicle to receive payments for his consultancy work for the club - a sensible thing to do for him as his tax liabilities would be significantly less than if his "Wages and bonuses" were paid as a salary, whereby he would have a 40% tax liability.

However, this "vehicle" would have had very little in the way of outgoings - no employees, only him & his Mrs - his fellow director, very little to spend on costs of running or maintaining the company - his office, no doubt, being the study in his mansion.

This is borne out by the fact that when wound up the vast majority of his liabilities were owed to, who else but HMRC.

So, he has been taking his consultancy fee from the club and the silly boy has been ignoring the taxman and not setting aside any of his fees to pay his tax liability.

I assume that the amount he owes to the taxman includes VAT as he would have been having to charge VAT on the sort of fees he ws charging us - or has the VAT man not had his little go at them yet?

It all goes to show he is totally incompetent on a personal level as a business man, yet he is let loose to run our club and does it in the same manner as he runs his personal affairs.

How can our board possibly have any confidence in him?

It really does beggar belief. Get rid of the wretched individual before he causes more damage and destruction - he's now a desperate man and as we know desperate men could do desperate things at tmes like this.

Watch him carefully, he is capable of untold further damage.

SO HOW CAN A MAN WHO CANT EVEN MANAGE HIS OWN AFFAIRS BE PAID TO RUN OUR CLUB

Fit & proper person???

Fit & proper person???

THATS RIGHT HE CANT BE

Well let's hope someone demands his resignation at the EGM

Well let's hope someone demands his resignation at the EGM

Can his chairmanship and even directorship be put on the agenda for the EGM? Perhaps that is a question for Steve Borley or the trust.

The final item on the agenda has to be "Any other business" so if it doesn't make it on to the main agenda, it surely has to come up on AOB