Derby County

[HoofGrantBrown]

ITV sport collapsed and the monkey did a runner to go and sell tea bags.
Rob Bradley said that the club had already included the contraced money in the clubs budget, and that it would leave the club in the shit (or words to that affect!).

Yep that's how I remember it.
We (quite reasonably) had basically spent the itv money which then never arrived.

No idea if the league ever pursued itv for the money or if (like nearly everything else the efl touches) they had cocked up on the tv deal and not covered any such renaging by itv. Whatever did or didn't happen we were out of pocket for a substantial amount (as far as our budget level went). And it happened close season too I think so no matches coming along to keep the cashflow above water. And it was that failed cashflow that nearly put us under.
And it took a load of emergency fundraising by us fans and Rob Bradley mortgaging his own home to get us through the court hearing and to the start of the next season when weekly income could recommence.

 

[Sincilbanks]

ITV sport collapsed and the monkey did a runner to go and sell tea bags.
Rob Bradley said that the club had already included the contraced money in the clubs budget, and that it would leave the club in the shit (or words to that affect!).

IIRC the club has actually included the contracted money twice?

 

[Eweimps]

I’ve just seen reported in the MSM that Derby are facing liquidation unless HMRC write off 20M. It would seem finding potential new owners has gone “pear shaped”

 

[NottyImp]

I’ve just seen reported in the MSM that Derby are facing liquidation unless HMRC write off 20M. It would seem finding potential new owners has gone “pear shaped”

Under no circumstances should HMRC write off a penny of Derby County's illegally unpaid tax.

£20 million could go a long way in the public purse, if wisely spent.

 

[MaineRoad_96]

I’ve just seen reported in the MSM that Derby are facing liquidation unless HMRC write off 20M. It would seem finding potential new owners has gone “pear shaped”

Not the dreaded MSM - must all be lies. Can’t we get the views of a QAnon conspiracy theorist to get to the ‘truth’?!

Seriously, someone needs making an example of - and if it’s a big fish like Derby maybe it’ll be a step towards better regulation.

 

[impede]

Under no circumstances should HMRC write off a penny of Derby County's illegally unpaid tax.

£20 million could go a long way in the public purse, if wisely spent.

I totally agree with this. I cannot write off my tax and even welfare benefit payments are regarded as taxable income. Why the hell should large companies and rich people get away with it?

 

[Eweimps]

I wonder if it’s a negotiating tactic as I think they actually owe 29M. HMRC may be pragmatic, and rather have something rather than nothing. Is that how these things work? I always feel sorry for the fans in these situations

 

[hulloutpost]

It's an incredibly slippery slope if HMRC start writing off liabilities and would open up a massive can of worms. It is the exact opposite of what football needs in terms of being dragged screaming towards getting it's house in order.

The only worry is that they will come to some sort of back handed deal. I'm no tax expert but isn't it there a precedent that 'ahem' agreements have made with some large companies? I would hate seeing that extended to football.

It stinks and it is wrong, as we're not talking a few quid that some self employed plumber has made from cash in hand, or a single parent making a few quid from working behind a bar once a week.

 

[impede]

I am just going to leave this here. Please bear in mind that capital gains tax is only taken from profit after initial cost (on which income tax will have been paid if the asset was paid for with income) is deducted

If you pay higher rate Income Tax

If you’re a higher or additional rate taxpayer you’ll pay:

28% on your gains from residential property
20% on your gains from other chargeable assets

 

[plumbob]

Seriously, someone needs making an example of - and if it’s a big fish like Derby maybe it’ll be a step towards better regulation.

Exactly this. I'd rather them go to the wall and HMRC get nothing if it serves as a warning and helps stop it happening again in the future. Death and taxes, the only certainties? Seems not for everyone!

 

[NottyImp]

Exactly this. I'd rather them go to the wall and HMRC get nothing if it serves as a warning and helps stop it happening again in the future. Death and taxes, the only certainties? Seems not for everyone!

HMRC should re-possess all assets - such as the stadium - and sell them to raise the required tax deficit.

 

[stokeimp]

Presumably the tax debt will include NICs deducted from players' wages. I trust that individuals still get their record credited with those contributions when their employer defaults in these circumstances?

 

[NottyImp]

Presumably the tax debt will include NICs deducted from players' wages. I trust that individuals still get their record credited with those contributions when their employer defaults in these circumstances?

You'd hope. But anything can - and does - happen in corrupt England.