simplythebest 0 Posted June 21, 2012 Share Posted June 21, 2012 How could that be true when the assets have been purchased? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 21, 2012 Share Posted June 21, 2012 How could that be true when the assets have been purchased? the rumour has it d&p ok'd it. its very far fetched. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted June 21, 2012 Share Posted June 21, 2012 Could just be crossed wires gunslinger. Green's consortium supposedly paid the £5.5m plus £2.5m in working capital. Not sure what the hell to believe any more right enough. I think we've had more bullshit and bent truths from Duff & Phelps than actual truth over the past 4+ months. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 21, 2012 Share Posted June 21, 2012 I understand that....... ...........despite all the (secretive) promises to the RFFF, Green desperate to get access to this money to fund tax securities. What is a tax security? In a situation like ours, once the newco starts trading, the taxman will come along and serve something called a Notice of Requirement. This means that the newco will have to put up a cash security equivalent to say 4 months vat in advance. The taxman will keep this for say 2 years, if you like insurance that the newco pays the VAT on time. They will also do something similiar for PAYE tax. If the security is not paid, then the newco is trading illegally, and will be closed. Green urgently needs to find this money, as he had not considered this. Meantime, recently failed "bidders" continue to mount there next move. more ff rumours. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted June 21, 2012 Share Posted June 21, 2012 That's a rumour I could actually believe. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 21, 2012 Share Posted June 21, 2012 That's a rumour I could actually believe. bluedell may be able to tell us how common this is or if it even happens. it does seem plausible and colourblue seems to know things. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted June 21, 2012 Share Posted June 21, 2012 bluedell may be able to tell us how common this is or if it even happens. it does seem plausible and colourblue seems to know things. There was some talk a good while back about this type of security being required by HMRC for a newco, but I really don't know if it's true or not. As you say, maybe Bluedell or one of the other guys can shine some light on it. 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted June 21, 2012 Share Posted June 21, 2012 apparently its normally only required if a history of non payment exists. but not in thhe company. with the owner. 0 Quote Link to post Share on other sites More sharing options...
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