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It appears the Bury owe HMRC in excess of £1 million. How on earth has the Football League allowed them to accrue such a debt? I thought they were supposed to monitor clubs’ finances so that this didn’t happen?

Trying to do some fag packet calculations but a seven figure sum doesn’t pass a sense check for unpaid PAYE / NIC unless it went back over a good couple of years or so? I wonder if there have been some VAT shenanigans?

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It appears the Bury owe HMRC in excess of £1 million. How on earth has the Football League allowed them to accrue such a debt? I thought they were supposed to monitor clubs’ finances so that this didn’t happen?

 

In a reply from the EFL to my query re.points deductions due to going into liquidation they told me that they dont get involved into the financial affairs of clubs because it is the owners business and his responsibility to run the club in a proper manner.

 

They also said that they provide support for owners when required.

 

Make of that what you will.

 

I have unfortunately deleted the email.

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An in-depth analysis of how Bury accrued their debts by the ever-excellent David Conn -

 

https://www.theguardian.com/football/2019/jun/18/bury-inside-story-financial-ruin-winding-up-petition-loans-car-park

 

It's just staggering and shocking.

 

Very well researched and written. A stark reminder for those on here who bemoan the fact we are a club trying to live within our means

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Very well researched and written. A stark reminder for those on here who bemoan the fact we are a club trying to live within our means

 

Thank God we have Carol and Kevin at the helm. To those keyboard warriors moaning about signing Ryan Lloyd et al read this and weep. We have a good chance of being able to see Port Vale in the future. I am not sure Bury fans can say the same.

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I was in Truro Market today and came a cross a guy running a music stall. He had a small Bury banner hanging in his stall and his missus brought him a cup of tea in a Bury mug. We were chatting to him for ages - he had travelled up from Cornwall for the Vale game because he thought it might be the last game the club played. He was in despair about his club and had almost resigned himself to the club’s demise.

 

We were talking about how these Prem fans don’t know they’re born. Manure fans whinging because they’d missed out on the Champs League just makes you laugh when you see what’s happening to clubs like Bury who are being destroyed by crooks in it for financial gain.

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Don't think it'll be shenanigans Santa but non payment of VAT on gate income or whatever plus the PAYE/NIC.

When we missed 2 payments , we had a transfer ban, so I assume they already have that. Bury can't have any assets so the debt just increases. I'd imagine HMRC have no option other than just agreeing to 6 week delays as they've got FA chance of receiving any money at all.

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Norman Smurfthwaite. He's got a lot of cash now he's fleeced us! :wink:

 

That's the sad part about it Nick - a club in Bury's current situation could find it looking for any port from the storm.

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A couple of years ago I had a chat - completely accidentally - with the ex finance director at Bury. He had left because they were living beyond their means. That included signing players on excessive wages who were not committed to the club. Payroll PAYE these days is done online with HMRC and so in theory arrears of PAYE and NI payments to HMRC should get challenged quickly. VAT is more manipulated because the income and expenses are more discrete in nature from the tax man's perspective. But to get out of this situation they need a new wealthy owner with the clout to bulldoze through the tax bills and start again. Otherwise they have to go in to insolvency and take the consequences of that which range from points deductions to relegation to the levels of teams like Marine, Witton Albion and Stalybridge Celtic.

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I bought a seat there a few seasons ago as part of a save Bury campaign so I’m not above a sentimental response, however, the current money isn’t owed to some mythical “taxman” it’s owed to tax payers and any bankruptcy leaves others more directly involved out of pocket with a range of knock on consequences. It’s immoral and if Vale were in the same position I wouldn’t complain if we went out of business. Lack of financial fair play between premiership and our level doesn’t excuse joining in and their way of gaining promotion was unfair and immoral.

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13 hours ago, JohnJames said:

Just read that. The FL's owners rules are simply a joke. How can someone simply take over a club without its approval? Surely something has to change in the ownership rules...

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Bury have had to cancel their friendly against WBA because their floodlights have been repossessed according to Twitter.

Also from Twitter:

 

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It seems like each and every season we have these scenarios with one club or another.

You have to feel for the fans.

-12 points before they've even kicked a ball and they haven't got a team together yet. Crazy.

 

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This scenario at Bury was predicted by many on this forum three or four seasons ago when they were signing the likes of Leon Clarke,James Vaughan,Jermaine Beckford and Jermaine Pennant on unsustainable terms.

If we can predict the outcome why can't others?

So sad,especially for their fans.

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2 hours ago, For Us All said:

This scenario at Bury was predicted by many on this forum three or four seasons ago when they were signing the likes of Leon Clarke,James Vaughan,Jermaine Beckford and Jermaine Pennant on unsustainable terms.

If we can predict the outcome why can't others?

So sad,especially for their fans.

Too right For Us All, I remember the thread. I can only assume we know more than the people running the Leagues.

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Bury deadline extended to 17.00 from 12.00,  whether Leicester considering a £500,000  offer for Hulme (who didn't play Sat) makes any difference I have no idea.

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