dorian gray Posted August 19, 2020 Share Posted August 19, 2020 NEIL, can we have some owlstalk wellingtons, the bedwetting has gone so far that it's over boot tops by now. Link to comment Share on other sites More sharing options...
dorian gray Posted August 19, 2020 Share Posted August 19, 2020 1 minute ago, Royal_D said: Wonder if we ever get to hear from DC on any of this suspect not i imagine he'll not be allowed to speak upon the matter by the clubs legal representatives. Link to comment Share on other sites More sharing options...
paullie Posted August 19, 2020 Share Posted August 19, 2020 (edited) So if the season has started and we win the appeal, either getting a lesser point deduction or wiped totally will they be added back on during the season or at the end of the season ? Edited August 19, 2020 by paullie Link to comment Share on other sites More sharing options...
toooldforthis Posted August 19, 2020 Share Posted August 19, 2020 On 18/08/2020 at 09:45, Daizan10 said: Well, that's some wishful thinking... It's the EFL's own rules... Link to comment Share on other sites More sharing options...
Dick_Turpin Posted August 19, 2020 Share Posted August 19, 2020 2 hours ago, dorian gray said: NEIL, can we have some owlstalk wellingtons, the bedwetting has gone so far that it's over boot tops by now. Yeah because everything is hunky dory at Hillsborough. Link to comment Share on other sites More sharing options...
Daizan10 Posted August 19, 2020 Share Posted August 19, 2020 1 hour ago, toooldforthis said: It's the EFL's own rules... Whats the chances of them applying points to before they even started the proceedings? They wont be after doing us any favours. Independent or not. Link to comment Share on other sites More sharing options...
trumbullowl Posted August 19, 2020 Share Posted August 19, 2020 Late to the party here. Could someone tell me what we officially did wrong, to get the 12 point penalty? Link to comment Share on other sites More sharing options...
Lyndon Posted August 19, 2020 Share Posted August 19, 2020 2 minutes ago, trumbullowl said: Late to the party here. Could someone tell me what we officially did wrong, to get the 12 point penalty? Apparently Dc's english isn't very good although the EFL say it is and he is lying about not being able to understand english so the emails he sent to them saying we hadn't signed the sale of the ground they mistook for him saying we had sold it. Think that's the crux of it 1 Link to comment Share on other sites More sharing options...
DSandersonOWL Posted August 19, 2020 Share Posted August 19, 2020 6 hours ago, rickygoo said: IF only he got a property lawyer involved at an early stage we wouldn't be in this mess. Yes we need a proper lawyer, a proper manager and some proper players. Oh damn, I just noticed you said 'property' ! Link to comment Share on other sites More sharing options...
dorian gray Posted August 19, 2020 Share Posted August 19, 2020 3 hours ago, rickygoo said: Yeah because everything is hunky dory at Hillsborough. it's far from it at present, but that's because the efl haven't reached their final decision. Link to comment Share on other sites More sharing options...
heppers Posted August 19, 2020 Share Posted August 19, 2020 11 hours ago, vulva said: Like you,I’ve absolutely no idea. He isn’t involved. Although the business did provide a bank guarantee to MM when DC bought the club in instalments. Link to comment Share on other sites More sharing options...
Guest Hornsby Posted August 20, 2020 Share Posted August 20, 2020 On 18/08/2020 at 20:45, mkowl said: You are right I presumed it would be on depreciated replacement cost - the same as Derby had done. That was an option that I thought unlikely - haven't actually checked if it said a valuation has been done or not. Tbh I presumed we would not want a 3m debit for FFP purposes to start each year. The accounts for July 19 if ever published will give more clarification i am sure, certainly more than the 2018 ones ever did At para 128, says there was a Stadium Valuation letter dated 15 August which is where they also probably got three million annual rent from. That said, doesn't say if done by RICS or any other qualified body. Be interesting to see if club elected to tax the stadium disposal , so adding VAT to both sale price and annual rent. This is normal where buying and selling and entities charge VAT when trading - most industries except finance - so can recover VAT paid (about two hundred thousand pounds tax for next new pitch, for example , as panel suggests Owls had FRI obligations.). Link to comment Share on other sites More sharing options...
Guest mkowl Posted August 20, 2020 Share Posted August 20, 2020 40 minutes ago, Hornsby said: At para 128, says there was a Stadium Valuation letter dated 15 August which is where they also probably got three million annual rent from. That said, doesn't say if done by RICS or any other qualified body. Be interesting to see if club elected to tax the stadium disposal , so adding VAT to both sale price and annual rent. This is normal where buying and selling and entities charge VAT when trading - most industries except finance - so can recover VAT paid (about two hundred thousand pounds tax for next new pitch, for example , as panel suggests Owls had FRI obligations.). Not sure elect to tax is relevant here. It is a trading asset in use for the purpose of the business, we are not commercial property owners supplying buildings. So VAT i think may have been chargeable unless we could use TOGC rules somehow Ironically Sheffield 3 would have to make the elect to tax call as its activity is a landlord. But VAT is generally just a cash flow issue in these scenarios, one charges the other reclaims. Link to comment Share on other sites More sharing options...
Guest Hornsby Posted September 3, 2020 Share Posted September 3, 2020 On 20/08/2020 at 09:22, mkowl said: Not sure elect to tax is relevant here. It is a trading asset in use for the purpose of the business, we are not commercial property owners supplying buildings. So VAT i think may have been chargeable unless we could use TOGC rules somehow Ironically Sheffield 3 would have to make the elect to tax call as its activity is a landlord. But VAT is generally just a cash flow issue in these scenarios, one charges the other reclaims. Think HMCR may be interested as cash will flow to Sheffield 3 via a massive VAT refund if they paid tax on purchase but - as a newco - have no income. Assuming 10 million plus VAT first tranche purchase payment to Owls, that would generate a tax rebate of about 2 million to Sheffield 3. And most pub companies, for example, elected to charge VAT on sale and leaseback of their freeholds. Link to comment Share on other sites More sharing options...
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