Scally

[octopus]

HMRC might well look into Scally's financial affairs.
Particularly after a significant event like the Takeover.
Someone on here speculated that Scally was entitled to £1,000,000 of Entrepreneur's Relief.

Haven’t they drawn that back in recent years? . I know about ten years ago when I went from some trader to a Ltd company it was very generous.

 

[Trashbat]

"nothing to do with" sound a bit hostile (unnecessarily ? )

According to this definition of "entrepreneur"....

"One who takes the initiative to create a product or establish a business for profit; generally, whoever undertakes on his own account an enterprise in which others are employed and risks are taken"

If you are tax expert, please enlighten us to the extent of Entrepreneur's Relief.
(I know that "property" investment is excluded from a number of Tax Reliefs - e.g. investing in AIM companies).

But as TG says, how much does this matter any more - other than morbid curiosity ?

Recommend that you put down the Oxford Concise Dictionary and pick up the a tax manual.

 

[Trashbat]

I wouldn't be surprised if PS is now just a non executive director, as that seems to fit with what he is doing.

For those that don't know, the definition is:
"A non-executive director is a full member of the company's board of directors and responsible as part of the board for the success of the company. In contrast to executive directors, however, they do not have executive responsibilities within the company and are not an employee of it.
The fees will usually be paid monthly like a salary, but as you are not legally an employee, the pay is usually described as 'directors fees'. NEDs do not typically receive any other employee benefits, pension payments, or bonuses."

If that is the case, I could see just cause for relieving him of his duties due to measurement of "the success of the company" and missing the play offs, if he has been advising and BG sees it that way.

He is a statutory director and, as such has a legal responsibilities under the Companies Act. Sounds pretty executive to me!

 

[bathnightattheminogu]

Yes, of course - if Scally has committed some 'irregularities' it must be someone else's fault.

The Gallinsons would have paid their accountants to conduct a full due diligence.
If they failed to do that properly then the buyers have every right to ask questions.
That is what I’m saying. It’s pretty obvious really.
I’m not saying Scally is absolved of all blame for any wrongdoing, but then I suspect you know that anyway.
You just seem to be like some sad stalker at the moment.

 

[NathanH_GFC]

Haven’t they drawn that back in recent years? . I know about ten years ago when I went from some trader to a Ltd company it was very generous.

Sadly it’s changed a lot since then, mainly no CT deduction for the goodwill you transfer across, but still good for when you sell a small business.

 

[Breckland]

Scally's formal status has been as a 'consultant ' to the company for years , enabling him to avoid PAYE and presumably take advantage of Dubai's extremely generous( non-existent) tax regime.

 

[Breckland]

The Gallinsons would have paid their accountants to conduct a full due diligence.
If they failed to do that properly then the buyers have every right to ask questions.
That is what I’m saying. It’s pretty obvious really.
I’m not saying Scally is absolved of all blame for any wrongdoing, but then I suspect you know that anyway.
You just seem to be like some sad stalker at the moment.

Quite so,I must have posted at least three times on the subject - the absolute legal definition of a stalker. Still at least I 'm a happy one.

 

[Trashbat]

Scally's formal status has been as a 'consultant ' to the company for years , enabling him to avoid PAYE and presumably take advantage of Dubai's extremely generous( non-existent) tax regime.

He doesn’t reside in Dubai and hasn’t for some time. But that doesn’t stop people from claiming that he does.

Funny how PS was heavily criticised by Fred and his lovers for being in Dubai and PS having to justify that he could run the business remotely. But nobody has criticised the Galinson’s for living in the US. Their time will come, no doubt!

 

[Gills_Horse]

He doesn’t reside in Dubai and hasn’t for some time. But that doesn’t stop people from claiming that he does.

Funny how PS was heavily criticised by Fred and his lovers for being in Dubai and PS having to justify that he could run the business remotely. But nobody has criticised the Galinson’s for living in the US. Their time will come, no doubt!

In their defence they do have a competent team under them, and have openly stated that they want to leave things to others who are more knowledgeable than them, whereas Scally was largely (Gwen aside) a one man show wasn’t he in the main.

 

[Trashbat]

If there is any truth behind some of the insinuations on here about financial irregularities then Fred and his lovers will soon feel a bit conflicted because they consider Fisher the saviour but he was at the helm when the takeover happened.

 

[Lark]

He doesn’t reside in Dubai and hasn’t for some time. But that doesn’t stop people from claiming that he does.

Funny how PS was heavily criticised by Fred and his lovers for being in Dubai and PS having to justify that he could run the business remotely. But nobody has criticised the Galinson’s for living in the US. Their time will come, no doubt!

He’s always registered as resident in Dubai on Companies House website, Perry claims his non dom status is one of the things being investigated.

 

[Mark_GRS]

If there is any truth behind some of the insinuations on here about financial irregularities then Fred and his lovers will soon feel a bit conflicted because they consider Fisher the saviour but he was at the helm when the takeover happened.

They won't be conflicted at all. He's only the 'saviour' for as long as it fits the agenda, he'll be quite readily thrown under the bus as soon as he's no longer a useful part of their narrative.

 

[GillsBluenose]

They won't be conflicted at all. He's only the 'saviour' for as long as it fits the agenda, he'll be quite readily thrown under the bus as soon as he's no longer a useful part of their narrative.

I don't think Fisher has ever owned any substantial number of shares in the company. Probably no more than you or me so no obvious need to question his motives.

He is also a genial character as are the Galinsons so I can see none of the reasons that would draw the same criticism as Scally, whose treatment of many employees and contacts, as well as his abrasive nature and lack of PR skills, is well renowned.

He had controlled the club for so many years that it is difficult to draw comparisons but I don't recall any of the same feeling being held about Tony Smith, and we weren't exactly successful under him.

 

[GillsBluenose]

He’s always registered as resident in Dubai on Companies House website, Perry claims his non dom status is one of the things being investigated.

I may be wrong but I thought that originally the only reason he spent time over there was in pursuit of investment for the club. Maybe he claimed that was the reason and it gained him tax breaks, possibly?

Also possibly a load of old hooey.

 

[Voice of Reason 2]

Also possibly a load of old hooey.

As is the whole thread based on a Facebook post by a PS stalker and nothing more

 

[bathnightattheminogu]

He’s always registered as resident in Dubai on Companies House website, Perry claims his non dom status is one of the things being investigated.

Companies House is often not updated and it is irrelevant what address he has on Companies House. What matters is what address, residence and domicile is registered at HMRC.
He has lived back in the UK for quite a few years now.

 

[AbsoluteCarnage]

Companies House is often not updated and it is irrelevant what address he has on Companies House. What matters is what address, residence and domicile is registered at HMRC.
He has lived back in the UK for quite a few years now.

If he was living here whilst registered with HMRC elsewhere, that would be something for them to investigate.

There are aspects of the original FP post that I could believe of Scally, others seem less credible. It would certainly be interesting to know whether he has been moved aside by the Galinsons.

The question of whether he's gone from executive chairman to a non-executive director is also possibly relevant to his current level of involvement.

 

[Gills 58]

Bored with this obsession about Scally.

Move on please.

Fred/Scally
Sunak/Corbyn.

Yawn

 

[shotshy]

Bored with this obsession about Scally.

Move on please.

Fred/Scally
Sunak/Corbyn.

Yawn

Me too.
I don’t think I’ve ever seen Perry at any match, home or away but he certainly has an obsession.
Maybe it’s what keeps him going?

 

[Trev_GFC]

“I’ve heard rumours about Scally”

“So have I”

Fred Perry: “What I’ve heard is…”

Other reputable people: “I’ve heard the same from good sources in the club”

Here: “Oh my God, that Fred Perry is obsessed. Move on please”

Tell me, who is the ‘voice of reason’ and who are the obsessed? Don’t get me wrong, I don’t like FP, but others are saying they’ve heard the same.