Interesting ......

It seems at last that EFL/NL are taking some responsibility for who runs our clubs. Now if only HMRC would likewise get real. How many clubs have gone into admin when HMRC is the biggest creditor having allowed the club to run up debts they had no hope of ever repaying.
 
Block Sands said:
It seems at last that EFL/NL are taking some responsibility for who runs our clubs. Now if only HMRC would likewise get real. How many clubs have gone into admin when HMRC is the biggest creditor having allowed the club to run up debts they had no hope of ever repaying.
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Part of the issue with debts to HMRC is the way in which clubs (businesses) pay their VAT and NI monies. These become due at fixed times in arrears. So if, for whatever reason, a club has cash flow issues they are easily tempted to spend the HMRC monies before they become due, in the hope they will be able to make the monies up. It rarely works out!

As an aside it looks very likely that Morecambe will go into administration, whilst the once mighty Sheff Wednesday are looking to be in serious trouble!
 
Old Poolie said:
Part of the issue with debts to HMRC is the way in which clubs (businesses) pay their VAT and NI monies.
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I'm sure you're right Grebeca but we end up with clubs owing 5 times their annual turnover or more for several years in a row. It must be obvious to any half competent accountant that the only way out is for the club to be "taken over" by some rich, and possibly dodgy, entrepreneur. And so the problems get worse.

I've said before that when I was very temporarily self-employed I found myself owing less than £20 in tax. I was threatened with not much short of life in prison if I didn't pay up immediately.
 
Block Sands said:
I'm sure you're right Grebeca but we end up with clubs owing 5 times their annual turnover or more for several years in a row. It must be obvious to any half competent accountant that the only way out is for the club to be "taken over" by some rich, and possibly dodgy, entrepreneur. And so the problems get worse.

I've said before that when I was very temporarily self-employed I found myself owing less than £20 in tax. I was threatened with not much short of life in prison if I didn't pay up immediately.
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Grebeca?
🤣
 
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