[sjc]

Hearts football club faces action over unpaid tax
Notice of the latest legal action appeared in the press on TuesdayHeart of Midlothian Football Club is facing fresh court action over unpaid tax.

HM Revenue and Customs has given the Edinburgh club eight days to pay a tax bill or face liquidation.

It is the fifth time in recent years that the club has faced legal action over unpaid tax.

Late last year, Hearts was forced to pay about £500,000 to ward off a winding-up order over an outstanding tax bill.

The club had similar winding up orders served against it in 2009 and November 2010 over unpaid tax to HMRC.

Both of these were settled after the club paid the bills.

[phanni tikklar]

Thats dated the 27th of january.. The 8 days are up!!!

[sjc]

phanni tikklar, on 07 February 2012 - 10:53, said:

Thats dated the 27th of january.. The 8 days are up!!!

well spotted......so either we're fucked or to quote Craig Whyte the BBC are "muckraking" !

[CityDave]

sjc, on 07 February 2012 - 10:56, said:

well spotted......so either we're fucked or to quote Craig Whyte the BBC are "muckraking" !

Don't know why this is news now when the order was from over a week ago. I would guess by the fact Hearts are still here that the bill had been paid. Bit of a non story.

This post has been edited by CityDave: 07 February 2012 - 11:57

[WaffenThinMint]

You will notice that it went unnoticed in the media?

It's become a common means of getting an outstanding creditor to cough up you know very well can pay the bill but is fannying you around - give them a bit of public embarrassment and make things awkward for them in their other business dealings too thereafter.

Hearts have been taking the piss with paying bills on time for too long (not an uncommon phenomena in Scottish business) and all that's happening is they're getting a bit of it back c/o HMRC,

Suppose they need to get in the practice of this sort of thing with football clubs considering the fuss there's going to be with a certain one in Glasgow in the near future.

[phanni tikklar]

Its been lodged.. We've paid, but will still carry it's course, then get thrown out when it gets to court..

Got to say though.. It's interesting how HMRC deals with us and how it deals with rangers

[capybara]

This is about the third we have had of these..Oh well at least the lawyers are making cash out of this. Vlad hurry up and piss off.

[WaffenThinMint]

phanni tikklar, on 07 February 2012 - 11:01, said:

Its been lodged.. We've paid, but will still carry it's course, then get thrown out when it gets to court..

Got to say though.. It's interesting how HMRC deals with us and how it deals with rangers

Indeed. The Axis Of Evil (Govan Branch) saga has to be the longest protracted affair long past the point it should have been brought to a conclusion since Children's BBC showed "The Mysterious City of Gold" when I was a nipper.

Come to think of it, the storylines are similar too, search for hidden wealth amid a lot of red herrings and dead end trails, and the wonder whether it ever existed at all.

[Yankee_Dollar]

Hearts or Rangers offski?

No brainer. Has to be the dregs of of society from Castle Greyskull.

[CityDave]

Pretty sure over the last couple of seasons Cardiff City have faced about 3 of these.

[betting competition]

Usual Hearts pay at the last moment but there might come a time when they don't. Wonder if they will pay February wages now?

[Hipster Dufus]

Yankee_Dollar, on 07 February 2012 - 11:50, said:

Has to be the dregs of of society from Castle Greyskull.

Castle Greyskull = He-Man (good guy)
Snake Mountain = Skeletor (bad guy)

[weirdcal]

Hipster Dufus, on 07 February 2012 - 12:30, said:

Castle Greyskull = He-Man (good guy)
Snake Mountain = Skeletor (bad guy)

unless there was oil involved and skeletor promised some of it to America and the UK ...

[Haters Gonna Hate]

To answer the question: Rangers

[DAFC.]

Us.

[Paulo Sergio]

If Rangers and Hearts go bust then Scottish football is as good as dead.

Hibs will get about 8,000 every week and not have the financial benefits of the derby and Celtic won't get to exploit sectarianism.

[WaffenThinMint]

Paulo Sergio, on 07 February 2012 - 20:02, said:

If Rangers and Hearts go bust then Scottish football is as good as dead.

Hibs will get about 8,000 every week and not have the financial benefits of the derby and Celtic won't get to exploit sectarianism.

So using your same logic, ergo Hearts fans with any common sense will NOT be hoping to see Hibs relegated this season as this will mean losing the lucrative derby fixtures, yes?

[Paulo Sergio]

WaffenThinMint, on 07 February 2012 - 22:08, said:

So using your same logic, ergo Hearts fans with any common sense will NOT be hoping to see Hibs relegated this season as this will mean losing the lucrative derby fixtures, yes?

It certainly wouldn't help financially, but it would be funny as f**k.

[Akpo Sodje]

Paulo Sergio, on 07 February 2012 - 20:02, said:

If Rangers and Hearts go bust then Scottish football is as good as dead.

Hibs will get about 8,000 every week and not have the financial benefits of the derby and Celtic won't get to exploit sectarianism.

The financial benefits of the derby mean f**k all in the bigger picture. I like how you think Hearts are just as important as Rangers though, made me chuckle

[SodjesSixteenIncher]

Paulo Sergio, on 07 February 2012 - 20:02, said:

If Rangers and Hearts go bust then Scottish football is as good as dead.

Hibs will get about 8,000 every week and not have the financial benefits of the derby and Celtic won't get to exploit sectarianism.

Lets say that Hearts fill the away end for derbies (a recent phenomenon) and that whichever seaside leaguer that comes up bring 500 to the only away game in Edinburgh, we'd only need 333 extra fans a game to make up for your demise.

Never been a 'tick-tock' merchant but when you look at it this way I'm coming round

Maybe ol' Wally was right and Edinburgh can only sustain one team. Looking like Glasgow is too.

[Green&White Zebra]

In some respects, Hearts are in a more precarious situation. Their debt to turnover ratio must be off the scale and their existence depends on the ongoing benevolence of Romanov. If he's not made the business impact he wanted to in Scotland or is simply bored, then he can walk out and sell the ground to offset his losses. I suspect that Tynecastle is the most valuable real estate of any ground in Scotland.

For all that, we know that the current incarnation of Rangers folding completely is very likely now and will probably occur before the start of next season, so they should go first. If Romanov had waited a few years before pumping money into Hearts, then they would have been in a great situation to challenge. Missed opportunity for sure.

Both clubs will be e-constituted. New Rangers will at least have a ground. However, if they simultaneously combust, then it will be easier to argue that the new clubs will be admitted straight to the SPL on the grounds that the game needs them. It would also divert any accusations of preferential treatment.

Long term, I think they're both destined for decline regardless.

[sjc]

Green&White Zebra, on 08 February 2012 - 06:52, said:

In some respects, Hearts are in a more precarious situation. Their debt to turnover ratio must be off the scale and their existence depends on the ongoing benevolence of Romanov. If he's not made the business impact he wanted to in Scotland or is simply bored, then he can walk out and sell the ground to offset his losses. I suspect that Tynecastle is the most valuable real estate of any ground in Scotland.

For all that, we know that the current incarnation of Rangers folding completely is very likely now and will probably occur before the start of next season, so they should go first. If Romanov had waited a few years before pumping money into Hearts, then they would have been in a great situation to challenge. Missed opportunity for sure.

Both clubs will be e-constituted. New Rangers will at least have a ground. However, if they simultaneously combust, then it will be easier to argue that the new clubs will be admitted straight to the SPL on the grounds that the game needs them. It would also divert any accusations of preferential treatment.

Long term, I think they're both destined for decline regardless.

Not necessarily.......Ibrox may be remortgaged to the hilt therefore having little or no equity value at all.

If Whyte was desperate enough to sell off the next 4years ST's it would suggest that this is the case.

[CityDave]

sjc, on 08 February 2012 - 10:39, said:

Not necessarily.......Ibrox may be remortgaged to the hilt therefore having little or no equity value at all.

If Whyte was desperate enough to sell off the next 4years ST's it would suggest that this is the case.

Remorgaging the whole stadium or part would be a final act of desperation, it would almost be like selling the crown jewels to Saudi Arabia.

I would think the ground would be sold off, but leased back to the club or reincarnation of the club.

I don't think Ibrox is going to in any danger of being bulldozed if Rangers go out of business at least the Main Stand is listed (b) and the possibility of the ground being used for other events such as rock concerts. I would think the stadium itself is a good resource to have and would be more benificial to the people of not just Glasgow but Scotland if it was maintained by who ever might take over.

Anyone know the approx value of Ibrox stadium including car park and buildings on the site?.

[Paulo Sergio]

Akpo Sodje, on 07 February 2012 - 22:47, said:

The financial benefits of the derby mean f**k all in the bigger picture. I like how you think Hearts are just as important as Rangers though, made me chuckle

Obviously we're not as "important" as Rangers in terms of finances to the league.

To Hibs we certainly are, though.

[Paulo Sergio]

SodjesSixteenIncher, on 08 February 2012 - 02:37, said:

Lets say that Hearts fill the away end for derbies (a recent phenomenon) and that whichever seaside leaguer that comes up bring 500 to the only away game in Edinburgh, we'd only need 333 extra fans a game to make up for your demise.

Never been a 'tick-tock' merchant but when you look at it this way I'm coming round

Maybe ol' Wally was right and Edinburgh can only sustain one team. Looking like Glasgow is too.

Nice reasoning.

And Hearts more or less always sell out for derbies, we've been down this road before.