Non Payment of Taxes

[North Lincolnshire Irons]

Why is it that Swann is not accountable himself for non-payment of taxes. It appears as if he will not take responsibility. Lester Piggott and Boris Bekker to name but two had to serve prison terms for non-payment of taxes. Whether that amount of money owed are smaller or larger or equivalent surely the principle is the same. Swann has had millions and gambled millions away. Surely a prison term should apply in his case if he refuses to pay up. Typicly the same reply from Swann to this HMRC Order – NOTHING. In his eyes this will not be his fault, the same as the gambling isn’t his fault. Ge is an evil person who deserves to end in the gutter.Very good wishes to Simon and Ian and the consortium and hope the deal can be done to buy our beloved Club. Hope too that more businessmen in our area will come forward to help. The Iron Trust should be coming forward and offering help and most importantly supporting our fans as many have paid to join The Trust and expect some action from them.

[Northumbiron]

Are they Swann’s personal taxes, or the club’s. I would think the latter.

Surely SUFC employ a club accountant. I can’t imagine Swann filling in the tax returns himself.

Not removing any blame from him but we need to think carefully about what we post on this matter.

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Deereyme66

[open hearth iron]

Indeed we do be careful

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Sanfran49

[SODIron]

Taxes owed by a limited company are different to personal tax owed, so it is not the same as Lester Piggott and Boris Becker whom I believe, were engaged in some tax evasion pratices.

The taxes owed by Scunthorpe United are likely VAT on sales, and perhaps income tax that they will have deducted from employees wages when they paid them. Depending on their setup with HMRC most organisations will pay these taxes quarterly, or yearly. Failure to pay these on time can result in penalties being added to the amount too, and this will only compound the issues.

In short, Swann and the directors are protected from this taxation debt as the debt is owed by the iimited company and not the directors.

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Just Iron, Northumbiron, Awaywego, BobbyGmeister

[Ben]

But isn’t the club owned by Coolsilk? Would it not be all the directors/owners of Coolsilk who are liable?

If so could the HMRC use resources from elsewhere under the Coolsilk umbrella to pay for this debt?

[64]

No,its a limited company,only the company has liability. This is basic business practise to protect owners from personal liability

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Awaywego

[Awaywego]

No Daz has about got it right.

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SODIron

[Pat O’Cake]

If we sent every company owner who’s business went bust due to non payment of taxes to prison there would be no room in prison for anyone else!! Lester Pigott and others got into trouble for tax dodging or avoidance or whatever you want to call it, basically falsifying what they should have paid, Peter Swann has not done that to my knowledge.

I am no fan of Swann but lets not start beating him for things he hasn’t done.

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Just Iron, Deereyme66

[SODIron]

Ben wrote:

But isn’t the club owned by Coolsilk? Would it not be all the directors/owners of Coolsilk who are liable?

If so could the HMRC use resources from elsewhere under the Coolsilk umbrella to pay for this debt?

No, Coolsilk is a seperate limited company that own the ground, carpark and training facilities. Scunthorpe United Football Club Limited are tennants (albeit rent free) of Coolsilk. They may have the same director in the board, but they are seperate legal entities and neither is liable for either’s debts / liabilities.

The actual HMRC debt was created by Scunthorpe United Football Club Limited due to non payment of tax when the tax was due, and they (Scunthorpe United Football Club Limited) are liable for the tax debt and any associated penalties etc.

[Ferrite]

As has been mentioned elsewhere, Southend have virtually got a season ticket at the High Court for this sort of thing, I think I read it’s often due to VAT or PAYE payment delays – essentially companies collect certain taxes on behalf of the government (see your wage slip) and have an obligation to pass that on.

[Deereyme66]

Think Southend have until 16 Jan to pay up, unless it’s paid already?

https://www.echo-news.co.uk/sport/23112841.southend-uniteds-winding-petition-adjourned/

[Ferrite]

Southend have received so many of these orders it’s hard to keep track!

https://www.bbc.co.uk/sport/football/63254285

[Iron-awe]

I guess we are more under threat then Southend because we are up for sale and the owner has stopped the funding of the club as he did in the past. Southend appear to have come to an arrangement with HMRC about their tax position and just keep soldiering on.

[Cliff Byrne’s Right Peg]

Our immediate danger will be cash flow. With no transfer sales is there enough in the kitty for January’s wages?

[Awaywego]

SST confirmed we had the same tax arrangements as Southend Ironawe, I guess we missed an agreed payment and HMRC have done the same to us.

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Iron-awe

[Deereyme66]

https://twitter.com/HumbersideSport/status/1613507486648270851?t=oFksqbRaoJYfVa-dKioD7A&s=19

[WonderGoals]

No further along then ?. Swann is going to stall until this months wages can’t be paid and the club get’s wrapped up and he’ll come out and start spouting he did everything to sell the club blah, blah blah.

If Swann really wanted to sell the club, he would have done before now.

[cassidystash]

How long ago did he step back as chairman to concentrate on finding a buyer?

[Anderson]

If the price was agreed in December and due diligence sorted out What is the hold up !!!
Time mr swan came out and spoke to the fans.

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North Lincolnshire Irons

[Iron-awe]

Perhaps the club could give us a subtle hint as to why matters are on hold, like we turn up for Saturdays game and the DRE end goal posts have been adjusted to 15 yards apart. “Nudge nudge wink wink know what I mean Arry”.

[CMC]

WonderGoals wrote:

No further along then ?. Swann is going to stall until this months wages can’t be paid and the club get’s wrapped up and he’ll come out and start spouting he did everything to sell the club blah, blah blah.

If Swann really wanted to sell the club, he would have done before now.

The latest stalling tactic so the lackeys spring into action and try and build up the crowd for Saturday, like the half season ticket and merchandise sales over christmas.

Fool me once, Fool me twice..

[Awaywego]

No one’s fooling anyone anymore the club needs money everyone should be able to see that, the players are obviously paid far to much. Swanny did say a few years back we needed 3000 to break even but surely not in the NL.

[timelord]

Awaywego wrote:

No one’s fooling anyone anymore the club needs money everyone should be able to see that, the players are obviously paid far to much. Swanny did say a few years back we needed 3000 to break even but surely not in the NL.

Lincoln needed 3,000 or so to break even in Conference days which we rarely got until 16-17 and the Cowley’s coming into the club. I’d suggest with inflation since then you’d probably need more than that 3,000.

[Author]

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