Quote Originally Posted by swaledale View Post
Reading more about Derby's debts, I am staggered that we seem to owe circa £26 million to HMRC, how the **** did it get to that stage?

It really seems that Mel has completely ****ed up in his desperate attempts to get promotion, I just hope he hasn't ****ed the club fatally, because there is a new rule now in force which says that HMRC should be paid in full.

Its a mess and we could see liquidation unless HMRC agree some reduction in the debt owed to them.
Which adds an interesting angle to the "profit on sale of Pride Park" at a high value on an arms length basis. Capital Gains tax at 19% on, say, 50 million book profit would be maybe £ 10 million. If its a pure capital gain DCFC most unlikely to be able to roll forward trading losses against it.

Add VAT, including 12 month covid deferral of payment, and PAYE EENI and ERNIIE perhaps 6+ months in arrears and you're getting there.

Buts its the CGT on the ground sale aspect that hasnt been picked up on anywhere that I have seen - after all you cannot make a huge chunk of profit for P&s / FFP reasons this way and not and up with a tax bill, can you?