Home Home Calendar Calendar Search Search Register Register Login Login
Welcome, Guest.
Please login or register.
Fishy Forum › Fishy Boards › Archive › Gloating about Scunny
Users Browsing Forum
AdSense and 143 Guests

Gloating about Scunny

  This thread currently has 3,647 views. Print
2 Pages Prev 1 2 All Recommend Thread
grimsby pete
November 15, 2020, 4:28pm

Exile
Posts: 55,762
Posts Per Day: 9.79
Reputation: 81.7%
Rep Score: +126 / -28
Location: Suffolk
Approval: +17,835
Gold Stars: 222
Well I hope they thrive but stay just below us.

It's our best derby game and we would all miss it if they went down or folded.


                             Over 36 years living in Suffolk but always a mariner.
                             68 Years following the Town

                              Life member of Trust

                               First game   April 1955
                               
Logged Offline
Private Message
9
1
0
 Reply: 10 - 18
tintowner
November 15, 2020, 4:31pm
Whiskey Drinker
Posts: 4,335
Posts Per Day: 0.78
Reputation: 77.64%
Rep Score: +13 / -4
Location: Immingham
Approval: +603
Gold Stars: 20
Quoted from moosey_club
Its more interesting to me that he has said he is heading down the sustainable route and relying on a good structure / youth set up rather than buying his way up the League which he said he has had a go at but failed.
The current squad of youngsters he has have been getting panned by one and all as not good enough so i just hope he has enough time to fail completely before his wife pulls the plug completely.


I am of the same opinion as you ...the bit about failing !

But...writing off the debt, club is debt free, somebody else then comes in wanting to take it on.....he aint just going to step aside.

He could well sell the club but keep the ground and the surrounding land.


Batch, K.Moore, Waters, Wiggington, Crombie, Brolly, Ford, Drinkell, Mitchell, Cumming, Kilmore. D.Moore, Stone, Liddell. ....1979/80..... now that WAS a team.
Logged Offline
Private Message
2
1
0
 Reply: 11 - 18
rancido
November 15, 2020, 5:16pm

Special Brew Drinker
Posts: 7,529
Posts Per Day: 1.26
Reputation: 80.3%
Rep Score: +41 / -10
Approval: +6,653
Gold Stars: 101
Quoted from tintowner


I am of the same opinion as you ...the bit about failing !

But...writing off the debt, club is debt free, somebody else then comes in wanting to take it on.....he aint just going to step aside.

He could well sell the club but keep the ground and the surrounding land.


Didn't that happen at Rotherham when they played at Millmoor ?


The Future is Black & White.
"The commonest thing on this planet is not water , as some people believe, but stupidity ". Frank Zappa
Logged Offline
Private Message
0
0
0
 Reply: 12 - 18
mimma
November 15, 2020, 5:33pm
Brandy Drinker
Posts: 2,652
Posts Per Day: 0.44
Reputation: 85.27%
Rep Score: +15 / -2
Approval: +5,574
Gold Stars: 78
Question for any accountants out there:

If he writes off his debt, reportedly to be £ 20 million,  does that become earnings, and liable for tax, since he is in effect giving the club the £20 million?
Logged Offline
Private Message
1
1
0
 Reply: 13 - 18
28195
November 15, 2020, 6:02pm
Guest User
As they are connected parties, no tax charge.

If the loan was from a supporter via arms length terms and was then written off, the club would have a taxable gain.
Logged
E-mail
0
0
0
 Reply: 14 - 18
HertsGTFC
November 15, 2020, 6:25pm

Barley Wine Drinker
Posts: 14,115
Posts Per Day: 4.25
Reputation: 75.4%
Rep Score: +29 / -10
Location: Stevenage
Approval: +22,998
Gold Stars: 228
In general no tax liability is related to a debt write off.


"Crombie you would have got to that if you weren't such a fat ba%$@rd" - George Kerr, inspiration from the dug out 70s style  
Logged Offline
Private Message
0
0
0
 Reply: 15 - 18
golfer
November 15, 2020, 7:12pm
Vodka Drinker
Posts: 6,932
Posts Per Day: 2.29
Reputation: 67.55%
Rep Score: +34 / -18
Approval: +3,450
Gold Stars: 118
Wont the lender be able to claim tax relief if he writes debt off


At the end of tax year do you have to pay tax on money owed to you. If true and the lender writes this debt off he will pay less tax
Logged Offline
Private Message
0
0
0
 Reply: 16 - 18
mimma
November 17, 2020, 1:47pm
Brandy Drinker
Posts: 2,652
Posts Per Day: 0.44
Reputation: 85.27%
Rep Score: +15 / -2
Approval: +5,574
Gold Stars: 78
Thank you for clearing this up. I always wondered how the tax system works with loans to football clubs.
Logged Offline
Private Message
0
0
0
 Reply: 17 - 18
FishOutOfWater
November 17, 2020, 3:18pm
Barley Wine Drinker
Posts: 12,834
Posts Per Day: 2.14
Reputation: 87.01%
Rep Score: +52 / -7
Location: Goole
Approval: +6,578
Gold Stars: 37
Quoted from promotion plaice

If he does write off his loans I doubt Swann's Mrs will allow him to waste more money on Scunny.

Looks like they are going for a similar business model to ours now, only spend what you have and rely more on developing young players through the academy.

No doubt some will be asking Mr Fenty to write off his loans now.


But he did that some time ago didn't he.... from what he said, it was only in his head though as I recall  
Logged Offline
Private Message Skype
0
0
0
 Reply: 18 - 18
2 Pages Prev 1 2 All Recommend Thread
Print

Fishy Forum › Fishy Boards › Archive › Gloating about Scunny

Back to top of page

This is not an official forum of Grimsby Town Football Club, the opinions expressed are those of the individual authors. If you see an offensive post then click "Report" on the relevant post. Posts will be deleted at the discretion of the moderators whose decision is final. Posts should abide by the Forum Rules. IP addresses of contributors together with dates and times of access are stored. The opinions and viewpoints expressed by contributors to The Fishy are their own and not necessarily those of The Fishy. The Fishy makes no claims that information dispersed through this forum is accurate or reliable. Also The Fishy cannot be held liable for any statements made by contributors of The Fishy.