Re: AGM/EGM tonight : Fri Jan 07, 2011 1:28 pm  

The Clan wrote:

The decision whether to back the share offer is yours and yours alone...obviously, but don't confuse it with anything else. It's the fans who are going to have to drive this NOT the BoD, they will have nothing to do with it other than publicising the plight of the club and any initiatives that might help.

The fans, like you, me and many others have to decide whether to build this fighting fund/share issue/investment/donation call it what you will. If and when we have enough we can decide what to use it for or it can be repaid, IN FULL with nothing lost, to each and every contributor.

Clan
your the person whos posts on here i most respect, but in this case i think we have to be very careful, if we raise the 500k theres no doubt what the cash will be used for, aged debt build up because we did not meet our tax liabilities during some period, now i for one would want to know what period, its fairly basic, because if we have not changed our payment policies there could be another coming, and another etc.

not having a go in any way, never could you knowledge of the game is far greater than mine but i cant get my head round why we owe 350k to hmrc if sir rod paid off last bill just before xmas!! what periods do these 2 payments cover?

Re: AGM/EGM tonight : Fri Jan 07, 2011 1:32 pm  

chapster wrote:

Clan
your the person whos posts on here i most respect, but in this case i think we have to be very careful, if we raise the 500k theres no doubt what the cash will be used for, aged debt build up because we did not meet our tax liabilities during some period, now i for one would want to know what period, its fairly basic, because if we have not changed our payment policies there could be another coming, and another etc.

not having a go in any way, never could you knowledge of the game is far greater than mine but i cant get my head round why we owe 350k to hmrc if sir rod paid off last bill just before xmas!! what periods do these 2 payments cover?

Dont forget the GBP 194k that was paid when we sold atkins

Re: AGM/EGM tonight : Fri Jan 07, 2011 1:33 pm  

Not being funny here, but have we ever paid any tax to HMRC since we joined SL? It doesn't look like it...

Re: AGM/EGM tonight : Fri Jan 07, 2011 1:36 pm  

I'm not privy to all the dealings at the club so I don't have an answer re which period(s) this TAX bill covers, I do know that Image rights aside there are no others.

Not wishing to be dismissive but does it really matter what the £500K is spent on as long as it safeguards the future of the club. Any money raised will go into the kitty that the club needs in order to function and whether it's a Tax bill, an electric bill or settling a caterer’s invoice.

Again I'll state that even if you take a share offer now, before anything is done with the money you and every other contributor will get to choose whether you want to use for the clubs benefit or have it paid back to you. You can even choose to just leave it where it is and wait for more clarity on the clubs situation before making a final decision.

Re: AGM/EGM tonight : Fri Jan 07, 2011 1:41 pm  

The Clan wrote:

I'm not privy to all the dealings at the club so I don't have an answer re which period(s) this TAX bill covers, I do know that Image rights aside there are no others.

Not wishing to be dismissive but does it really matter what the £500K is spent on as long as it safeguards the future of the club. Any money raised will go into the kitty that the club needs in order to function and whether it's a Tax bill, an electric bill or settling a caterer’s invoice.

Again I'll state that even if you take a share offer now, before anything is done with the money you and every other contributor will get to choose whether you want to use for the clubs benefit or have it paid back to you. You can even choose to just leave it where it is and wait for more clarity on the clubs situation before making a final decision.

actually yes it does matter, its about securing it for how long, if we are regularly getting in to problems of about the 300-350 k region on tax then the 150k left over over the 500 is going to go pretty soon, and this tie next year we will be in the same boat, if not sooner. This for me is heart vs head and at present i really dont know.

Re: AGM/EGM tonight : Fri Jan 07, 2011 1:51 pm  

chapster wrote:

actually yes it does matter, its about securing it for how long, if we are regularly getting in to problems of about the 300-350 k region on tax then the 150k left over over the 500 is going to go pretty soon, and this tie next year we will be in the same boat, if not sooner. This for me is heart vs head and at present i really dont know.

The NEW BoD will be the ones tasked with ensuring that we operate within budgets that don't get us into defecit, easier said than done.

Re: AGM/EGM tonight : Fri Jan 07, 2011 1:52 pm  

chapster wrote:

actually yes it does matter, its about securing it for how long, if we are regularly getting in to problems of about the 300-350 k region on tax then the 150k left over over the 500 is going to go pretty soon, and this tie next year we will be in the same boat, if not sooner. This for me is heart vs head and at present i really dont know.

Agreed. There seems to be a cycle of us not paying the tax man on a regular basis, so if and when we raised the cash to pay this one off, how are we going to be able to ensure we are not here again in 12 months time? That has to be the ultimate question

Re: AGM/EGM tonight : Fri Jan 07, 2011 1:56 pm  

The Clan wrote:

The NEW BoD will be the ones tasked with ensuring that we operate within budgets that don't get us into defecit, easier said than done.

can you see that actually being possible and also being in any way competative in super league in the next 3-5 years, honestly?

Re: AGM/EGM tonight : Fri Jan 07, 2011 1:57 pm  

Tricky2309 wrote:

Agreed. There seems to be a cycle of us not paying the tax man on a regular basis, so if and when we raised the cash to pay this one off, how are we going to be able to ensure we are not here again in 12 months time? That has to be the ultimate question

Well the current people running the club will be history leaving the way open for a new BoD that can run the club more prudently than the last.

There might be some harsh decisions to make and some fine judgements to balance, we might need to look at youth promotion instead of overseas players. That in turn may not fit our coach's outlook and he may not want to be associated with it or he might feel liberated by it. who knows but one thing is for sure, the fans will have a greater say and there will be more transparency and communication. There surely has to be lessons learnet from the past!

Re: AGM/EGM tonight : Fri Jan 07, 2011 1:58 pm  

The Clan wrote:

The NEW BoD will be the ones tasked with ensuring that we operate within budgets that don't get us into defecit, easier said than done.

Clan, does your response here not suggest that you like many others on here realise that at this time we simply are not financed for SL and that in the circumstances a drop down the league would make us a more viable proposition for the long term, rather than a potential further 12 months or few years struggling in SL, as was stated on another thread