Thetownend.com

The ending doesn't sound too good.

http://www.swindontownfc.premiumtv.co.uk/page/NewsDetail/0,,10341~1207279,00.html

We're in a better position now to that of a few weeks ago, but it just seems never ending! The joys of being a Swindon fan...

Just waiting on the inland revenue and the outcome of those discussions, I'm sure Fitton knows exatly what he is doing though....he has been in buisness for long enough

Fitton was on RS earlier and basically, it sounds like we owe 3 million to HMRC. Fitton wants to pay half now and half at a later date. HMRC want it all now. That in a nutshell, is what seems to be the sticking point at the moment.

When asked if they had the money to pay it all in one go if that's what it came down to, he said something like, "I would rather not answer that question". Taken in the context of the interview I took it to mean that they did have the money but would much rather spend it on other things in the short term.

I'm sure a deal will get done fairly soon. As he indicated, HMRC have the choice of taking 1.5 million now and the rest at a later date or, on the other hand, bugger all.

I am 99.99% certain that this bloke knows exactly what he is doing.

that was my take on the interview as well.

the fact that he is thinking about a manager suggests to me that he will complete regardless.

3M to the HMRC??? Fucking hell.... must be interest. Sounds to me a pretty simple request I guess now. If he has to pay it all now I gues she will but would rather spend the cash elsewhere.

How on Earth did we end up owing 3m in taxes ALONE???

The mind boggles!

It is an utterly astonishing amount of money. It's a miracle the club was not wound up years ago.

well one season alone sandy forgot that we owed £750k to the tax man, so i'm not that surprised.

By having a greek swindler in charge?  Really does say something about the Wills family if they have stood by and allowed this to happen!!

But really 3M in taxes ALONE, surely not a penny of tax must have been paid whilst those whose names we shall not mention where in charge.

If the tax debt ALONE is 3M squid then surely the total must be well above the 5M which has been quoted as the 'total' debt.

18 Mil anyone?

The club would be responsible for paying the Income Tax of each player and member of staff.  Say the wage bill is 4 Million a year, the tax bill could be say 1.5 Million (roughly) add on VAT at 750k a year and then also the National Insurance contributions then 3 Million might be since teh start of the Wise time.

NEVER UNDERESTIMATE HOW MUCH TAX EMPLOYERS PAY IN THIS COUNTRY ITS A FUCKING JOKE

Just fucking pay them!!!

This never ending bullshit pisses me off and Im afraid Fitton isnt coming across as our "saviour" anymore, more like Diamandis light.Im sick of it,he knew what was owed stop trying to cut deals and putting of Peter to pay Paul.We've had 5(?) years of this bollocks and nothings changing under the new regime.I'm even starting to question if indeed there is a new regime...sounds like the same old bullshit from the same old people.

Mr Fitton said on radio we owed taxman 3 million!!  He is prepared to pay half straight away and the rest over the next twelve months.  Apparently rules state it is not possible to do this, alternative is the taxman gets nothing and we lose our club!!

There's quite a big difference Yeovil - Fitton is actually proposing to pay them. He just wants to pay the CVA as priority over paying HMRC the whole lot up front. I don't know if you heard the RS interview but if it's online it's worth a listen - he knows what he's talking about and he's actually talking sense. It takes a bit of adjusting as a Town fan to hear someone (about to be) running the club talking sensibly and like they know what they're doing, but if you can make the mental leap its worth it.

:goodpost:

I've heard him interviewed/read his quotes probably 7 or 8 times now and it's clear to me that Fitton knows what he's doing. I'm sure of that. There is absolutely no comparison between him and the previous regime. As you say though, it will take some time for us long suffering fans to adjust.

Nope not heard it,id rather have a rash knee jerk rant after drinking to much 8)

That's fair enough - you can't argue with that.