Steve Shovlar Posted July 7 Report Share Posted July 7 Thought there were a lot of speedway fans in the area but alas no. Club has had it with the tax man now owning everything. Unless there is someone willing to come forward with very deep pockets to pay the taxman off, all the work building that track has been a waste of time. Sad time for the fans and riders. Quote Link to comment Share on other sites More sharing options...
2ndbend123 Posted July 7 Report Share Posted July 7 I believe Workington have until Wednesday to sort this situation out or it is over. Also if they do get back a 6pm start time has been suggested to attract more fans. Quote Link to comment Share on other sites More sharing options...
mac101 Posted July 7 Report Share Posted July 7 30 minutes ago, Steve Shovlar said: Thought there were a lot of speedway fans in the area but alas no. Club has had it with the tax man now owning everything. Unless there is someone willing to come forward with very deep pockets to pay the taxman off, all the work building that track has been a waste of time. Sad time for the fans and riders. How can they owe the tax man loads of money ,they must be running at a loss like every other club  and with all there own money they put in surely the tax man owes them a rebate it can only be the VAT man 2 Quote Link to comment Share on other sites More sharing options...
Fromafar Posted July 7 Report Share Posted July 7 36 minutes ago, Ray Stadia said: Speedway should have got its act together years ago, especially for the professional side of the sport. The clubs, themselves, supply the bikes on the day, all to a set standard, so no one could complain they got a duff bike. It would take away the 'he's only good because he spends £X on specialist tuning'. All too late now. It has been discussed before and of course, many have views why it wouldn't work. But, the current model/set-up, definitely isn't working. I can't see how the sport can be attractive to a rider in this country? Does Bomber Harris really think his son will have an eventual future in speedway?   They ask the fans for their input ,then do nothing.Its their ball and they are not giving it too anybody.They need to tell the riders that are not committed to Uk speedway where to go ,and not let them dictate everything for themselves as has been happening for the last 10 years at least.The chickens at are coming home to roost I’m afraid. Step back required IMO 3 Quote Link to comment Share on other sites More sharing options...
Ray Stadia Posted July 7 Report Share Posted July 7 56 minutes ago, Steve Shovlar said: Thought there were a lot of speedway fans in the area but alas no. Club has had it with the tax man now owning everything. Unless there is someone willing to come forward with very deep pockets to pay the taxman off, all the work building that track has been a waste of time. Sad time for the fans and riders. If there hasn't been any accounts filed, HMRC won't know what is owed, if anything! As someone else said, maybe VAT, which I suppose, could be the issue? Quote Link to comment Share on other sites More sharing options...
THE DEAN MACHINE Posted July 7 Report Share Posted July 7 12 minutes ago, Ray Stadia said: If there hasn't been any accounts filed, HMRC won't know what is owed, if anything! As someone else said, maybe VAT, which I suppose, could be the issue? This is why non of it makes sense, no accounts filled, how would they know how much, with the set up costs and the crowds there is no way any sort of profit would be there and if indeed the assets have been seized then why are they still running practices and a short track last weekend at the track ? Nothing adds up 1 Quote Link to comment Share on other sites More sharing options...
AndiCapp Posted July 7 Report Share Posted July 7 50 minutes ago, 2ndbend123 said: I believe Workington have until Wednesday to sort this situation out or it is over. Also if they do get back a 6pm start time has been suggested to attract more fans. Here we go again..... Interested which cereal packet you get your information from. 4 Quote Link to comment Share on other sites More sharing options...
singy13 Posted July 7 Report Share Posted July 7 1 hour ago, AndiCapp said: Here we go again..... Interested which cereal packet you get your information from. Your tone suggests he's possibly into 'Frosties'...although you probably want him to favour 'Cheerios'...... Quote Link to comment Share on other sites More sharing options...
IainB Posted July 7 Report Share Posted July 7 25 minutes ago, singy13 said: Your tone suggests he's possibly into 'Frosties'...although you probably want him to favour 'Cheerios'...... Fruit Loops? 1 Quote Link to comment Share on other sites More sharing options...
Derwent Posted July 7 Report Share Posted July 7 3 hours ago, Steve Shovlar said: Thought there were a lot of speedway fans in the area but alas no. Club has had it with the tax man now owning everything. Unless there is someone willing to come forward with very deep pockets to pay the taxman off, all the work building that track has been a waste of time. Sad time for the fans and riders. They don’t necessarily owe anybody any money. The issue is they have not filed accounts since 2022 despite warnings from Companies House, who are a separate organisation to HMRC. Eventually their patience has run out and they have got a court order to close the company down. 1 Quote Link to comment Share on other sites More sharing options...
Derwent Posted July 7 Report Share Posted July 7 2 hours ago, THE DEAN MACHINE said: This is why non of it makes sense, no accounts filled, how would they know how much, with the set up costs and the crowds there is no way any sort of profit would be there and if indeed the assets have been seized then why are they still running practices and a short track last weekend at the track ? Nothing adds up Accounts filed at Companies House are not what HMRC use for tax purposes. Every company has to file a return called a CT600 directly with HMRC each year to show the calculation of any corporation tax owed. This is because a company can make a profit in its accounts but not owe any tax if they had losses from previous years to offset it. 2 Quote Link to comment Share on other sites More sharing options...
Colsimmo58 Posted July 7 Report Share Posted July 7 Can anyone tell me if the Promotion are in Breach of Contract with the Riders,and they can move on elsewhere and leave Workington with no riders , if or when they are up and running again. 1 Quote Link to comment Share on other sites More sharing options...
Neila Posted July 7 Author Report Share Posted July 7 From what we know from companies house Northside speedway training track ltd has been dissolved. This company appears to run the comets has the licence etc from the bspa, and sorts some riders visas, now this company does not exist. A new company probably can not be set up in a few days then organise visa and licenses etc. then we have the issue who now owns the track, has it gone to the crown/government/ taxman. Then IF the comets don't exist where do the riders stand in all this, losing income/ potential income from guest bookings, It is just getting more of a mess the longer it goes on Quote Link to comment Share on other sites More sharing options...
Ray Stadia Posted July 7 Report Share Posted July 7 11 minutes ago, Derwent said: Accounts filed at Companies House are not what HMRC use for tax purposes. Every company has to file a return called a CT600 directly with HMRC each year to show the calculation of any corporation tax owed. This is because a company can make a profit in its accounts but not owe any tax if they had losses from previous years to offset it. Sure, but the point is, HMRC can not say a company owes X, if they do not know the company's financial affairs. They can issue fines, but that is it! Quote Link to comment Share on other sites More sharing options...
Ray Stadia Posted July 7 Report Share Posted July 7 As I recall, the previous promoter of Workington, was an accountant and sadly, the lady couldn't square the circle. Maybe, it is a reality check that team speedway is not viable in Workington, with all the operating costs, in particular, riders demands! Quote Link to comment Share on other sites More sharing options...
Gazc Posted July 7 Report Share Posted July 7 3 hours ago, mac101 said: How can they owe the tax man loads of money ,they must be running at a loss like every other club  and with all there own money they put in surely the tax man owes them a rebate it can only be the VAT man Plus HMRC wouldn’t know how much they are owed if they are owed anything at all, as no accounts have been submitted as someone previously said. He likes to sensationalise everything Poole directors must be sitting shaking their heads in disbelief after his prediction on the crowd levels there last week. They will be hoping the taxman hasn’t got a log in on here. 2 Quote Link to comment Share on other sites More sharing options...
singy13 Posted July 7 Report Share Posted July 7 7 minutes ago, Ray Stadia said: As I recall, the previous promoter of Workington, was an accountant and sadly, the lady couldn't square the circle. Maybe, it is a reality check that team speedway is not viable in Workington, with all the operating costs, in particular, riders demands! Well considering the population of Workington is approx 25,000 and neighbours Whitehaven similar I think the speedway lady promoter did well during her reign. Comets first appeared for the west Cumbrian sporting public in 1970,,,a reported crowd of 6,000 came to watch, This spell of male promoters lasted 12 seasons. Glasgow came to use the track in mid eighties ( can't be bothered to check proper date), Then Messrs Thomas and Mole brought Stoney and co. to Derwent Park in 1999 - this time the opening event only saw 4,000 attend, cough, cough. With the final chapter of this era being in 2018 (history and all that ). So yes Laura took over running Comets for the final handful of seasons at the previous venue, and she did very well compared to other promoters without squaring circles at all. To say that team speedway is not viable in Workington is an unfair comment given that a great many clubs have folded and re-appeared on several occasions down the years - some from cities way bigger than little 'Worky'..e.g.Newcastle (where are they now ?)..Oxford, Sheffield. Barrow....oh I give up!!!!...... Quote Link to comment Share on other sites More sharing options...
Derwent Posted July 7 Report Share Posted July 7 47 minutes ago, Ray Stadia said: Sure, but the point is, HMRC can not say a company owes X, if they do not know the company's financial affairs. They can issue fines, but that is it! If a company doesn’t file their Corporation Tax return, VAT or PAYE return then HMRC actually have the legal authority to issue an assessed/estimated bill for payment based on the average bills of similar sized companies. But this is not HMRC who have closed the company. For them to do so requires them to submit a Winding Up Petition to the High Court and then obtain a Winding Up Order. All of which has to be published in the London Gazette records which are publicly available online. Nothing has been published to that effect. It is the Registrar of Companies who has had the company struck off and so it no longer exists as a legal entity. So anything that the company did that requires legal entity status it is now unable to do - they can’t hold a speedway licence, can’t employ people, can’t be the employer sponsor for work visas etc etc 2 Quote Link to comment Share on other sites More sharing options...
THE DEAN MACHINE Posted July 7 Report Share Posted July 7 1 hour ago, Derwent said: Accounts filed at Companies House are not what HMRC use for tax purposes. Every company has to file a return called a CT600 directly with HMRC each year to show the calculation of any corporation tax owed. This is because a company can make a profit in its accounts but not owe any tax if they had losses from previous years to offset it. I know I have a business, I’m just saying that none of this makes sense Quote Link to comment Share on other sites More sharing options...
Ray Stadia Posted July 7 Report Share Posted July 7 16 minutes ago, Derwent said: If a company doesn’t file their Corporation Tax return, VAT or PAYE return then HMRC actually have the legal authority to issue an assessed/estimated bill for payment based on the average bills of similar sized companies. But this is not HMRC who have closed the company. For them to do so requires them to submit a Winding Up Petition to the High Court and then obtain a Winding Up Order. All of which has to be published in the London Gazette records which are publicly available online. Nothing has been published to that effect. It is the Registrar of Companies who has had the company struck off and so it no longer exists as a legal entity. So anything that the company did that requires legal entity status it is now unable to do - they can’t hold a speedway licence, can’t employ people, can’t be the employer sponsor for work visas etc etc Ok, but people on here keep saying they owe HMRC tax, maybe they do, maybe they don't. For sure, HMRC have no idea. If it is as you say, the company is insolvent, the creditors will be looking for some kind of recovery. Quote Link to comment Share on other sites More sharing options...
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