Frankie 8,682 Posted April 1, 2011 Share Posted April 1, 2011 (edited) http://www.plus-sx.com/companies/plusCompanyDetail.html?securityId=10824 Turnover and profit down because of falling ticket sales, postponed games and the provision for separate tax penalties. Club continues to contest case though. Press conference later this morning. Edited April 1, 2011 by Frankie 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,682 Posted April 1, 2011 Author Share Posted April 1, 2011 Club criticise Lloyds Banking Group for 'certain provisions imposed on the Club' which 'compromise our efficiency'. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,682 Posted April 1, 2011 Author Share Posted April 1, 2011 Appears club have two separate tax issues outstanding - one which they've provided �£1.8m for & the other the EBT scheme more widely debated. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,270 Posted April 1, 2011 Share Posted April 1, 2011 Note 1: The exceptional item reflects a provision for a potential tax liability in relation to a Discounted Option Scheme associated with player contributions between 1999 and 2003. A provision for interest of GBP0.9m has also been included within the interest charge. Is this a seperate tax issue Frankie or is this the period when the EBT was operating , these figures only seem to muddy the waters even further 0 Quote Link to post Share on other sites More sharing options...
ascender 352 Posted April 1, 2011 Share Posted April 1, 2011 Thanks for the info Frankie. I was half asleep when I heard the headlines this morning and did a double take when I heard the debt had actually gone up. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,270 Posted April 1, 2011 Share Posted April 1, 2011 Also there are 3 home games missing , plus the 2 Scottish cup ties against the filth and also the 2 home Europa league games , I'm off to my bed my head hurts 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,682 Posted April 1, 2011 Author Share Posted April 1, 2011 Note 1: The exceptional item reflects a provision for a potential tax liability in relation to a Discounted Option Scheme associated with player contributions between 1999 and 2003. A provision for interest of GBP0.9m has also been included within the interest charge. Is this a seperate tax issue Frankie or is this the period when the EBT was operating , these figures only seem to muddy the waters even further As said above, there appears to be two different cases. One which we set money aside for and the other EBT one which we're fighting. 0 Quote Link to post Share on other sites More sharing options...
Stimpy 0 Posted April 1, 2011 Share Posted April 1, 2011 Appears club have two separate tax issues outstanding - one which they've provided �£1.8m for & the other the EBT scheme more widely debated. I can only see one mate: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=10829297 Of the �£1.8m some it's interest as well that we could be liable for? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,682 Posted April 1, 2011 Author Share Posted April 1, 2011 There are two: Tax case 1: The exceptional item reflects a provision for a potential tax liability in relation to a Discounted Option Scheme associated with player contributions between 1999 and 2003. Discussions are continuing with HMRC to establish a resolution to the assessments raised. Tax case 2: Distinctly separate from the Discounted Option Scheme, and in touching on HMRC's enquiry into the Murray Group Management Limited Remuneration Trust, I would emphasise that no allegations have been made to suggest any illegal activity, and tax vehicles of this type have been used by a number of companies throughout the country. We continue to vigorously contest HMRC's challenge on the taxation treatment of the Trust and in doing so continue to receive reassuring opinion from tax, accounting and legal specialists. 0 Quote Link to post Share on other sites More sharing options...
stewarty 2,060 Posted April 1, 2011 Share Posted April 1, 2011 I find it quite amusing that none of our "informed" journalists had any wind of these provisions. 0 Quote Link to post Share on other sites More sharing options...
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