The Debt.

[BWFC_Insane]

I've got to be careful what I say due to who I work for, not 100% about the PAYE but with the VAT, depending on their VAT stagger then being petitioned the month after payment is due doesn't ring true. For a start, BWFC would go into the default surcharge system where an increasing % is added onto each VAT return until debt is cleared and usually only when the maximum 15% is reached is when the debt is usually taken more seriously (obviously taking into account how much the debt is). Debt management would potentially send out a "field force agent " to assess the debt and assets but this is only after a "Time to pay" agreement couldn't be reached or if one was in place and then we defaulted on it. Something just doesn't seem right to me, with how quick this has all happened. I think there's more that we've not been told.

Agree with this. That is my understanding too.

[officer_dibble]

Yep. My gut is they have only come public as late as possible. Has Birch truly been parachuted in this late? Really poor by ED if so given PGs health.

[Gudnib]

I've got to be careful what I say due to who I work for, not 100% about the PAYE but with the VAT, depending on their VAT stagger then being petitioned the month after payment is due doesn't ring true. For a start, BWFC would go into the default surcharge system where an increasing % is added onto each VAT return until debt is cleared and usually only when the maximum 15% is reached is when the debt is usually taken more seriously (obviously taking into account how much the debt is). Debt management would potentially send out a "field force agent " to assess the debt and assets but this is only after a "Time to pay" agreement couldn't be reached or if one was in place and then we defaulted on it. Something just doesn't seem right to me, with how quick this has all happened. I think there's more that we've not been told.

Agree with this. That is my understanding too.

It does seem all a bit quick. HMRC really coins it in from football in PAYE & VAT. Its treated as a business (there's no other choice) but its not really a business for those who support it. You don't really get valuable services; its more like a charitable donation. For us BWFC Lifeline members its hard to see it as anything else.

[Worthy4England]

Good news is, there shouldn't be an ongoing PAYE problem if we're not paying any bugger.

[Aanvalluh]

Good news is, there shouldn't be an ongoing PAYE problem if we're not paying any bugger.

*like*

[Hoboh]

I might be wrong thinking this but I really hope some Jurno somewhere gets his teeth into revealing exactly what has been going on at the club for the last five years or so, something does not add up!
Trickle by trickle the tale of miss-management gets worse and worse by the day, the sh*t we are in did not happen overnight, someone as either been pulling a fast one or guilty of total incompetence.
This is going to end in tears, the vultures no doubt will be circling.

[thebish]

It'll be reet.

#trustintrev

[BWFC_Insane]

It'll be reet.

#trustintrev

We either sell of assets and hope a saviour arrives.

Or go into administration.

Either way it 100% isn't just going to be reet now I'm afraid.

[Dave Sutton's barnet]

It'll be reet.

#trustintrev

We either sell of assets and hope a saviour arrives.

Or go into administration.

Either way it 100% isn't just going to be reet now I'm afraid.

Please show your working-out in the margin.

This is serious stuff and it looks bad, but I don't believe there isn't a sliver of hope, and if people want that, you surely can't take that away.

Thebish is, after all, a man of faith...

[BWFC_Insane]

It'll be reet.

#trustintrev

We either sell of assets and hope a saviour arrives.

Or go into administration.

Either way it 100% isn't just going to be reet now I'm afraid.

Please show your working-out in the margin.

This is serious stuff and it looks bad, but I don't believe there isn't a sliver of hope, and if people want that, you surely can't take that away.

Thebish is, after all, a man of faith...

Oh I think the club will survive, though there is a risk it won't, but I think it will.

But there is going to be some serious pain in doing so.

There is always hope. I think it will be sorted eventually. But that process is doing to do some damage.

[Gary the Enfield]

It'll be reet.

#trustintrev

We either sell of assets and hope a saviour arrives.

Or go into administration.

Either way it 100% isn't just going to be reet now I'm afraid.

Please show your working-out in the margin.

This is serious stuff and it looks bad, but I don't believe there isn't a sliver of hope, and if people want that, you surely can't take that away.

Thebish is, after all, a man of faith...

So is it #trustintrev or #trustint'rev? These distinctions are important.

For me I'm on the optimistic side.

We'll come out of this a better club. Look where Leicester and Southampton were a few years ago. Leeds and Portsmouth ffs were in a FAR worse situation than us. I for one think we'll still have a club into my dotage.

Be reet.

[BWFC_Insane]

I personally don't see comparisons with Southampton as relevant. Club with huge catchment area and tens of millions of academy talent.

The problem is we don't know the scale of our problems yet.

[Gary the Enfield]

I personally don't see comparisons with Southampton as relevant. Club with huge catchment area and tens of millions of academy talent.

The problem is we don't know the scale of our problems yet.

Boom.

Leeds? Leicester?

Similair sized clubs with similar sized catchment areas? I'll grasp my optimism and squeeze every last breath out of it. Be reet.

[CrazyHorse]

I personally don't see comparisons with Southampton as relevant. Club with huge catchment area and tens of millions of academy talent.

The problem is we don't know the scale of our problems yet.

It'll be reet.

[Dave Sutton's barnet]

I personally don't see comparisons with Southampton as relevant. Club with huge catchment area and tens of millions of academy talent.

And a very very rich owner who bankrolled their rise. When Southampton get plaudits Liebherr doesn't get mentioned much at all.

But I have to believe it'll be reet. There's nothing else I can do.

[Gudnib]

I've got to be careful what I say due to who I work for, not 100% about the PAYE but with the VAT, depending on their VAT stagger then being petitioned the month after payment is due doesn't ring true. For a start, BWFC would go into the default surcharge system where an increasing % is added onto each VAT return until debt is cleared and usually only when the maximum 15% is reached is when the debt is usually taken more seriously (obviously taking into account how much the debt is). Debt management would potentially send out a "field force agent " to assess the debt and assets but this is only after a "Time to pay" agreement couldn't be reached or if one was in place and then we defaulted on it. Something just doesn't seem right to me, with how quick this has all happened. I think there's more that we've not been told.

When a business is struggling to survive VAT & PAYE inevitably slip down the paylist - they are not providing services you need to function. This problem started in earnest when the Bank of Eddie Davies stopped lending and that is likely to have been quite a bit longer than just a few months ago. Is BWFC also suffering punative VAT default surcharges? Very possibly.

[BWFC_Insane]

If we're looking at comparisons, does anyone have a list of football clubs that have been served winding up petitions?

I know Rangers have and Northampton recently, but through history which are the clubs that have got to that state? Rather than say, voluntary administration....

[Lost Leopard Spot]

If we're looking at comparisons, does anyone have a list of football clubs that have been served winding up petitions?

I know Rangers have and Northampton recently, but through history which are the clubs that have got to that state? Rather than say, voluntary administration....

I don't have a list to hand, but only five clubs have ever been dissolved through a winding up order.
The last was Rushden and Diamonds, the one before that I'd never heard of, the one before that was Newport County ( I think).
But no club, ever, has been wound up in the League.

[Dave Sutton's barnet]

Accrington had a winding-up order and were an hour off dissolution, probably because they didn't have any assets to speak of. My colleague and fellow Wanderer Chris Flanagan was covering it for the Lancashire Telegraph – basically some bloke burst into court saying "I'll pay it!!" and they were saved. I'm sure the story is online somewhere...

[Lost Leopard Spot]

...but, and this is what's worrying me, ever since the Fanny Mae and Freddy Mac fiasco banks are becoming ever more entrenched and need gold star borrowers before they'll lend owt.
It seems to me we'll need some character with personal wealth. I don't see any of them lining up: Colombian drug cartels, Russian gas field owners, and Blood diamond lords don't tend to have many connections to Bolton.