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Ad Lib

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Ad Lib last won the day on October 7 2015

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About Ad Lib

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    Watch out Simon Stainrod
  • Birthday 27/05/1991

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  1. Granny you should know by now I am not, never have been, and never will be, essential for any purpose whatsoever. They get Coronavirus, obviously.
  2. The Government is STRONGLY ADVISING you to stay in your homes.
  3. Shit. Turns out you can get reinfected by the Caldwell Virus.
  4. I see Skyline Drifter is every bit as boring as f**k during a plague as he is during the normal football season. Edit to add: not *wrong*. Just BORING.
  5. I don’t think we’ve seen a prolonged postponement of the league outright since the outbreak of World War 2? Obviously we’ve had long spates of weather postponements for individual grounds etc but that isn’t the same. That’s our only precedent. The league was scrapped after 5 games. Null and void. If we are into (say) May and the season still isn’t up and running again, they surely can’t relegate based on existing or projected standings, especially with so many games still to go. The only equitable thing to do is to declare this league season null and void, and work out a compromise with the big clubs about who should take our European spots next season. Its the only equitable thing to do. And for once the fair thing is coincidentally in Thistle’s interests. I suppose one compromise might be to sling the top four teams from the Championship into the Premier for a 1 season only 16 team league, and shunt the top four of each of the other leagues up a league with some sort of reconstruction back to status quo the year after?
  6. PropCo itself relieved the club of about £30kpa of debt interest because of the capital injection it brought about to the Club. There’s a good case to be made that it made the assembling of the promotion team possible as it got us within spitting distance of break even and kept HMRC off our backs when we had cashflow issues. The subsequent transactions have less obvious a benefit to the Club unless the land literally makes its way back into our name.
  7. I suppose that depends in part on whether you did some informal thinking based on known working assumptions right from the outset or whether you were thrown suddenly into a different position and you have to satisfy someone else’s terms about your future governance arrangements rather than just “here is my money I’ll run it how I want k thnx bai”
  8. The recipient of land pays the tax in a land transfer. If the Club is having to pay for the land there’s a good chance most of that is being taxed at 5% (a small proportion at 1% and a small proportion tax free). So if, for example, the Club stood to receive about £900k or so from PropCo (for the land having been sold to 3BC) and 3BC therefore charged about that for the subsequent transfer back to the Club, you could be looking at a LBTT charge of (if I understand it right) about £35k. Which would be over and above a charge levied on 3BC who would have paid about £90k to buy the whole of PropCo’s land. This is why the way they’ve made that transaction seems a bit weird. They could have bought out the PropCo investors’ shares in PropCo for about a million quid, leaving Beattie et al to just pay capital gains tax on what (if any) profit they made on their investment from 10 years ago (which is almost nothing). They’d have also paid about £5k in Stamp Duty on the shares (0.05% of the value of the transaction). 3BC could have then gifted the PropCo shares to the Club, for a similarly low Stamp Duty cost. The value of the transactions being lower, and the difference of tax treatment for shares vs land transactions would (unless I’m massively missing something) have been about £80k less expensive for 3BC and about £30k cheaper for the Club than the approach adopted. This is weird. Either there’s something more to why the transaction was structured this way, or 3BC (and possibly the Club) have been sub-optimally advised as to their tax liabilities. I should caveat this with I could have got something completely wrong about the tax arrangements, but it says a lot that the Club are now citing tax reasons for the delay.
  9. https://ptfc.co.uk/ptfc-news/joint-update-from-the-working-group-and-three-black-cats-on-fan-ownership/ I am *shocked* that they failed to think through the tax implications of making two transfers of land instead of buying out PropCo’s investors then just gifting those shares to the Club.
  10. I think we need to recognise that Banzo is finished at this level. We cannot build a team around a guy that plays the negative pass half a second too late. Barjonas is also not the answer, Brownlee and O’Ware are at best average in the lower half of this league. Shea Gordon anonymous when he came on. The number of times we were crying out for someone to support Robson on the overlap was ridiculous. O’Connor has no pace and Zanatta was anonymous.
  11. When Tommy Robson is your most creative outlet you know things aren’t good.
  12. Gets on bus. Sees Tommy Robson in starting line-up. Contemplates getting off bus. While it’s moving.
  13. What kind of muppets start a new and mandatory ticketing scheme half way through a season?
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