ridsdale

reading in the notw that his consultancy company has gone bust owing close on half a million. what next for him?.

 

LOL yeah mate I laughed at that as well. The guy should have been banned for life from owning companies a long time ago.

 

A slow lingering death .... ;-)

 

Should have a bell put round his neck.

 

Oi toss pots, if it wasnt for risdale we wouldnt have a club,Mr Doyle stated that if no one came in before the end of the month he would have closed the club.

 

Jail?

 

get your facts right.

 

Not me Gov.... Just a mistake . Got to admire the guy an awswer to it all

http://www.walesonline.co.uk/footba...isleading-says-peter-ridsdale-91466-23753812/

 

"The only material creditor was HMRC"

so that's alreight then

 

that's a great spin to put on it. no income coming in - money owed to creditors. call it what you will mr ridsdale but it sounds to me like you've gone bust!

 

So basically........

Instead of being self employed, he set up a ltd company.... Then from what he's said hasnt paid his tax bill......

Bent as a 9 bob note..... I pay my income tax so why doesnt he?????

Now he's in discussion to pay it back personally..... in other words as the HMRC know its a ltd company with no assests they will accept a settlement offer from him for as little as around 20p in the pound.

So he will get away with a £375k tax bill by paying about £80k

 

RE: Not me Gov.... Just a mistake . Got to admire the guy an awswer to it all

No doubt his next occupation will be as MP for some unsuspecting constituency.

 

Depends...

... ifany money he has drawn from the company has been taken as remuneration upon which he has paid tax on then you are right.</p>

If any money has been distributed by dividends and the company is insolvent, then the dividends may be 'illegal' and could be recovered by a liquidator from the shareholders (PR).</p>

If money has been drawn as a 'loan' by PR then the liquidator will try to obtain repayment in full directly from PR as the loan would be an asset of the company.</p>

That's my take on it.</p>

 

RE: Not me Gov.... Just a mistake . Got to admire the guy an awswer to it all

I was once involved in a company that stopped trading. The IR 'requested' that i pay tax based on earnings from the previous year, which were quite substantial.

However, as the company had ceased trading & i was now employed by another as an employee there was no income.

It took several months and numerous letters to convince the IR that there was no income from the company. They even issued a court warning.

Eventually, when the accounts of the compnay were finalised i owed a few hundred pounds, not the thousands they had been 'requesting'.

Now our company turned over a lot less than PR's company and i can quite imagine that the IR will say based on previous earnings PR owes this large amount, but when all the figures are finalised it will end up being alot less.