pedg

something to read while you wait... http://www.mirrorfootball.co.uk/opinion/columnists/darren-lewis/Why-Peter-Storrie-is-trying-to-take-Portsmouth-fans-for-fools-article292957.html

Depends I guess on whether their arguments are based on one single VAT rule or on a number of other things as well. If it is the one rule and the judge is clear how to rule (usually they look for precedents don't they?) then it could all be done and dusted (i.e. 1 or 3) today?

I guess there are 3 possible outcomes? Pompey appeal thrown out. Winding up order and bill stay as they are. Judge allows them more time. Possibly delay winding up order? Judge sides with pompey and throws out winding up order.

Different £7M. One is the money from the TV distributed by the PL the other is the difference between the 11M the HMRC claim they owe (according to that article) and the 4M PFC claim to have paid. Just coincidence that both come to the same figure.

Another day, another set of figures quoted in a paper that don't quite fit with what has been said before. http://www.telegraph.co.uk/sport/football/leagues/premierleague/portsmouth/7021592/Portsmouth-set-to-discover-tax-verdict.html HMRC say that the club owe more than £11 million in unpaid tax, but the new owners claim to have paid off £4 million and dispute the total claimed by the Inland Revenue. So is the money outstanding to HMRC £3M as previously quoted, £7M as inferred from figures above or, possibly because there have been quotes of PFC paying some of the bill via a £4M security that HMRC are not recognising that as a legitimate payment and that they still owe the full £11M?

I believe PFC are disputing the number of posts on this tread and will be in court soon to have it reduced to what their magic 8 ball says is the real number.

...

I think somewhere its claimed their total wage bill for January will be £3m so some people on the non playing side are obviously taking home a tidy wage. I wonder who??

So they did pay VAT, unfortunately it was the Villains Appropriation Tax

As I understand it, though based on snippets of information from various sources, so may well not be correct. Pompey got bill for VAT, PAYE and NI Pompey paid most of it but disputed the VAT payment level HMRC issued winding up order for remainder of money due Pompey took HMRC to court over the disputed VAT and thus the winding up order. So though the bill was for more than VAT it appears they have pinned their colours to just the VAT mast and that their argument that they should not pay VAT on transfer payments would have a very large effect as I think in the HMRC document linked to earlier it is based on some rule relating to payment in kind or similar so would not only be a landmark ruling in relation to transfer fees but also for the payment of VAT in other much larger areas.

Indeed the earlier twitter from same chap said the hearing was this morning. #portsmouth attempt 2 swerve taxman heard in private @ High Court this morning. 'judgement reserved'! Never easy with PFC, is it? about 2 hours ago from txt

According to some BBC journo on twitter (the joys of using the latest option on google search) the results of the pompey appeal will be released at 10:30 tomorrow: http://twitter.com/bbc_matt #portsmouth judgement expected at 1030 2moro. Can they nip that HMRC winding-up order in the bud? Squeaky bum time at Fratton Park

I think the first we heard about the withholding of the payments was after they had got the loan and paid their players? As its a power that the PL has but, I think, has never used before it may well be that they did not think about it? --- the story says that they took the loan for the december wages and not having the 2M is jeopardizing their paying 3 million this month. So either they intend to pay off the 2m with the TV money then get another (secured against what) or the loan they got was enough to cover both salary bills in which case even if they do get the 2m its not going to be anywhere near the size of the loan?

Any idea where this £2M 'bonus' mentioned in that story would be coming from? I thought the PL had divided up all their £7M TV money?

If David James wants to play in the world cup then surely he could agree with the club to have the contract extension clause removed from his current contract??

If, as one of the other papers states, they are trying to get the rule on VAT on transfers overturned then it would be amazing if such a major decision (I think as well as transfers it would set a precedent for other more general transaction that also attract VAT) was taken in their favour based on 1 day in court?

Its a known and common problem with the V+ boxes and we have fairly often experience the same problem. If you get a new one now you get a different make (samsung I think?) that is a fair bit faster. It tends to happen often after midnight when the box is also updating its listings but know from experience that it happens at other times as well. Unfortunately I don't think there is anything you can really do to speed it up.

"here comes Hamilton into the pits for a tyre change and its looks like they are changing his soft compound tyres for the hard ones with the big pointy spikes on the side."

Stephen Hawking goes out on his first date for twenty years. He comes back home at the end of the evening with broken glasses, grazed elbows, a broken leg and bloodied knees. Apparently she stood him up.

I hear there could be a large area ripe for redevelopment for housing becoming available down there in the near future.......

I think that rumour did the rounds a few days back and was rather laughed at by our Dubai correspondent.

You forgot the positive news that they might help get the world air guitar record this weekend:) + looked for a date for the loan repayment but can't find a specific date only articles mentioning the end of this month so I would say that deadline is still to come.

Sounds to me like he does not want to attend the trial and knows if he does not he will lose some money so is trying to lose as little as possible?

A bit of info on pompey's VAT challenge. Previously assumed they were appealing some sort of accounting error but... http://www.thesun.co.uk/sol/homepage/sport/football/2808875/Its-Jame-on-for-the-Potters.html Pompey could win rebates running into millions for all Premier League clubs if they succeed in their battle against HM Revenue & Customs, which starts in court today. Taxmen are claiming £7million in unpaid VAT and have issued a winding up order against the club. Pompey, under a transfer embargo, will argue VAT should not be paid on transfer fees. So, comically, not only have they not paid their transfer fee's they are saying that they should not have to pay the vat on the transfer fees they have not paid.

Just to say that when we were in Cuba in Feb we found the sea quite cold compared to other caribbean locations so if you want somewhere very hot in Jan you need to probably look nearer the Equator. I would recommend St Lucia as been 3 times and never overwhelmed by americans at all. The best place was the jalousie plantation where you can rent little villa's each with there own plunge pools. Plus when on the beach you are given a red flag to stick in the sand if you want anything. It is rather pricey but was one of our best holidays ever.