| Club debts.. 12:29 - Apr 4 with 1261 views | electricblue |
Each passing month we read or hear about clubs not paying player or staff wages and huge amounts in the hundreds of thousands even millions to companies or the likes of HMRC..
So itsnt it about time that every month the club pays the like of HMRC instead of annually...
Surely thats a way forward because if the club havent paid that months taxes then the HMRC can get onto them sooner rather than later..... |  |
| My all time favourite Dale player Mr Lyndon Symmonds |
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| Club debts.. on 12:35 - Apr 4 with 1230 views | EllDale |
In my experience PAYE was meant to be paid over to the Revenue on a monthly basis.
VAT may have been quarterly at one stage?
I suspect that the problem is that HMRC simply don't have enough enforcement staff to rigidly pursue clubs in arrears.
The way that players' wages are these days it doesn't take long for a massive bill to accumulate. |  | | |
| Club debts.. on 12:45 - Apr 4 with 1174 views | smaclad1 |
Think it better if failure to pay wages attracted an immediate points deduction of say 5 points on each occasion it happens. At the end of the day it happens because clubs are overpaying beyond their means and the financial fair play rules, if they have any impact, are only applied months after the event. | | | |
| Club debts.. on 13:10 - Apr 4 with 1091 views | Ancoats_Blue |
| Club debts.. on 12:45 - Apr 4 by smaclad1 |
Think it better if failure to pay wages attracted an immediate points deduction of say 5 points on each occasion it happens. At the end of the day it happens because clubs are overpaying beyond their means and the financial fair play rules, if they have any impact, are only applied months after the event. |
That and/or the players are allowed to detach themselves from clubs for non payment.
I know that if i wasn't paid by my employer I'd be getting another job ASAP. Surely non-payment is a breach of contract even in the football world. It might focus attention if players are able to leave mid-season due to not being paid. |  | | |
| Club debts.. on 13:35 - Apr 4 with 1037 views | BigKindo |
| Club debts.. on 12:35 - Apr 4 by EllDale |
In my experience PAYE was meant to be paid over to the Revenue on a monthly basis.
VAT may have been quarterly at one stage?
I suspect that the problem is that HMRC simply don't have enough enforcement staff to rigidly pursue clubs in arrears.
The way that players' wages are these days it doesn't take long for a massive bill to accumulate. |
In recent years Companies have had to make monthly online returns for PAYE under the Real Time Information scheme (R.T.I.). Companies have to list all their employees and make a monthly return for each and every one who has a PAYE Coding. At tax year end an annual tax year end return has to be submitted for every employee which generates your personal P60 form. Any late filings are subject to penalties and potential assessments.
VAT is normally collected as a Direct Debit on your Company Bank Account. From 01-04-2019 any Company registered for VAT with an annual turnover of more than £ 85k. (the current VAT threshold) has to submit digital returns. From some time probably next year a Company's sales and purchase invoices have all to be submitted digitally. This will enable HMRC to cross check transactions between companies and, in theory, reduce potential VAT fraud.
Enjoy. |  | | |
| Club debts.. on 16:52 - Apr 4 with 799 views | Yorkshire_Dale |
Years ago HMRC and VAT were treated as Preferential Creditors if a Company failed and they were left unpaid......however now I understand that because of EU Law this is not the case so Companies don't have the respect or desire to pay Her Majesty and walk away. | | | |
| Club debts.. on 17:03 - Apr 4 with 771 views | judd |
| Club debts.. on 16:52 - Apr 4 by Yorkshire_Dale |
Years ago HMRC and VAT were treated as Preferential Creditors if a Company failed and they were left unpaid......however now I understand that because of EU Law this is not the case so Companies don't have the respect or desire to pay Her Majesty and walk away. |
So HMRC became far more pro-active in collecting payments and much less lenient in letting arrears build up. |  |
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| Club debts.. on 17:31 - Apr 4 with 708 views | macro |
| Club debts.. on 17:03 - Apr 4 by judd |
So HMRC became far more pro-active in collecting payments and much less lenient in letting arrears build up. |
They have, they want their money monthly. It’s usually the reason that clubs end up in the high court that they’ve failed to pay HMRC |  | | |
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