V Taunton 16.1.24 A

[Curtis]

On 15/01/2024 at 20:30, Irishadrian said:

having signed some new players and a few EFL loanees the total doom and gloom has lifted

So, they signed several new players & EFL loanees on Monday & have a Winding Up Order issued against them by HMRC on Wednesday?

[Irishadrian]

I think it would be significant if they were announcing signings today or in the next fews days

[Irishadrian]

2 minutes ago, Irishadrian said:

I think it would be significant if they were announcing signings today or in the next fews days

Update

Somerset Gazette and BBC Somerset both confirming story is true.

[Irishadrian]

1 hour ago, Irishadrian said:

Update

Somerset Gazette and BBC Somerset both confirming story is true.

Taunton Town now confirming the situation Say they brought outstanding VAT up to date last week but have been negotiating over outstanding PAYE for some time but have rec eived no help and support from HMRC say they will approach NLS and ask for advice help and support from them  Really dont know what they expect! Also say they wont make any further comments about the matter!

Edited January 18 by Irishadrian
Spelling

[Nathan]

4 hours ago, Sir Rebel1965 said:

It all depends on the how the HMRC reads their books and believe there is a chance of getting any money owed.

If it looks like they will go further into debt and no chance of recovering the monies owed they will shut them down quick, but if Taunton put together a viable recovery plan, then they will give them more time.

And this is why fans should always keep an eye on the financial management of their club.

Southend United have been served with over 30 winding-up petitions since 2009 (in 2010 they publicly accused HMRC of handing them out like confetti!). When the High Court gave them yet another 42 days grace in August 2023 over a £275k debt, they were told that the club also owed other debts totaling over £1million, with the judge saying that they'd have been wound-up were they not a football club. The £275k debt was settled in October.

Contrast this with the case of North Ferriby United, who were wound-up over a mere £7,645.25 owed.

The message I see here is that a large club with a large fanbase can accumulate massive debt over many years with no consequences, but if you're a little club then it's tough luck.

[Irishadrian]

Taunton could get more time by going into administration as Truro City did 2011/2 but the NLS would deduct 10 points if they did this They really are going to have to offer as much as they can and get an agreed plan they dont renege on

[Irishadrian]

They just cant catch a break! Tomorrows game at Braintree called off due to very frozen pitch!

Edited January 19 by Irishadrian