Villa to be served with a winding-up order?

[Burt]

And CEO suspended.

Due to unpaid taxes.

[Burt]

Keith Wyness: Aston Villa chief executive suspended by Championship club

Championship side Aston Villa have suspended chief executive Keith Wyness because of a missed tax payment, BBC WM 95.6 reports.

It is understood that the club will pay the outstanding amount within the next 48 hours.

A Villa statement added that owner and chairman Dr Tony Xia will "assume the role until further notice".

Wyness joined Villa in June 2016 shortly after the Chinese took over at Villa Park.

Villa lost 1-0 to Fulham in the play-off final at Wembley on 26 May, meaning they will spend a third consecutive season in the second tier.

Analysis
Mark Regan, Aston Villa reporter for BBC WM 95.6

This news will come as a shock to Aston Villa fans, who are still coming to terms with the play-off final defeat. It will also do little to calm fears that the club has entered a deeply troubling financial situation after missing out on the windfall that would have come with promotion.

The club's owner Dr Tony Xia has previously stated that Villa face "severe" challenges under financial fair play rules.

In short, Villa need a stabilising influence and they need it quickly with the squad needing drastic surgery to prepare for a third season in the Championship. Tuesday's news will feel like salt into a wound that's had no time to heal.

https://www.bbc.co.uk/sport/football/44376099

[Burt]

Aston Villa could be served with a winding up order, according to Sky.

Sky News city editor Mark Kleinman revealed the potentially disturbing turn of events this afternoon.

It comes as Villa have confirmed the suspension of chief executive Keith Wyness.

Kleinman tweeted that Villa have suspended Wyness.

The Sky journalist also claimed HMRC has served a winding-up order against Villa.

He went on to say: "Some more clarity on Aston Villa FC situation: the club missed a tax payment last Friday, and has been given a period (which I understand to be a week) by HMRC to make the payment or face a winding-up order."

https://www.birminghammail.co.uk/sport/football/football-news/aston-villa-breaking-news-wyness-14747893

[Holders]

Xia is reported as saying that the club needs to adopt a sustainable model and that the present situation has arisen over the course of the past 10 years.

Not to have won that match would have meant a great deal to us - but perhaps more to them. They are the victims of their own actions.

[EastEndWhite]

Xia is reported as saying that the club needs to adopt a sustainable model and that the present situation has arisen over the course of the past 10 years.

Not to have won that match would have meant a great deal to us - but perhaps more to them. They are the victims of their own actions.

Randy Lerner 'saw him coming'.

[Camel Club]

Feel sorry for the Villa fans. FFP aside Bruce was allowed to spend stupid money on players/wages and he should take a lot of responsibility for the mess they're in financially. I have to be honest whilst I feared for us on the pitch if we had lost the final I had no idea that the consequences for Villa both on and off the pitch were so devastating. Another club's fans let down by greed and incompetence.

[fulhamben]

They've hardly been making a profit in the last couple of years have they, so the tax bill can't be much. Odd that they wouldn't pay it but no chance of it resulting in a winding up order. That's just HMRC trying to look like they've got a big truncheon. Someone from the Villa ticket office will probably pay it out of the petty cash tin this afternoon.

? You don't just pay tax on profit

[davew]

My heart bleeds for them, sell John Terry!!!!!

[WhiteJC]

They've hardly been making a profit in the last couple of years have they, so the tax bill can't be much. Odd that they wouldn't pay it but no chance of it resulting in a winding up order. That's just HMRC trying to look like they've got a big truncheon. Someone from the Villa ticket office will probably pay it out of the petty cash tin this afternoon.

? You don't just pay tax on profit

i'm no expert so feel free to enlighten me. is this a massive bill for CGT on their training ground?

companies pay tax on "money earned", if they don't make a profit on that money the tax man doesn't care he wants his % regardless

[The Rock]

When they went down they had their chance to do what we did, try and be sustainable and rebuild, balance the book, cut costs, fire staff. Painful, but necessary.

Instead, while they didn't do a QPR with respect to FFP (as far as I know), they by no means cut costs and wages must be out of control. They are in for a rude awakening.

"To the pain."

[Carborundum]

Aston Villa fans currently fretting about playing Sutton Coldfield in the Evo Stick South league.  Their forum has a thread titled "Fans worried over Villa future" and they are up to page 402 of the thread.

To be fair, a 402 page thread is impressive.  In part they have a lot of fans with a lot of worries.  But they have been posting their worries since 2005.  Keeping something going for 13 years takes some doing. 

[Jem]

Terry signing for Villa was a "wind up".

[Dryden]

[/quote]

er, no!! as i said i am no expert on VAT, CGT etc... maybe this is a bill for NI they didn't deduct from players' salaries, i have no idea about all that... but one thing i do know (and thought everyone did) is that corporation tax is only paid on profits, not revenue!
[/quote]

Essentially right.  A company generally makes three payments over to HMRC:

1.  They act as tax collectors by deducting PAYE and NIC from their employees and pay this monthly.
2.  Submit a quarterly VAT return and, if there's an excess of output VAT to input they'll pay this
3.  If they make a profit in the financial year they be taxed on this at the current corporate rate and pay this annually.

There can be others but these are the main ones - I suspect that it's non payment of the monthly PAYE and NIC that's the issue here.

[Riversider]

That £12 million and bumper 4 year contract on Ross McCormack is looking a tad I'll judged  064.gif 064.gif 064.gif

[Steven Ageroad]

That £12 million and bumper 4 year contract on Ross McCormack is looking a tad I'll judged  064.gif 064.gif 064.gif

At least they didn't have to pay him the £1mill. bonus that the squad was expecting if they had won.

[filham]

Those of us on this board who want us to spend, spend and spend again without financial control should take note of Villa's situation.

A few more expensive players like Fonte sitting on the bench with pockets full of money and we could be in a mess.

[Holders]

Those of us on this board who want us to spend, spend and spend again without financial control should take note of Villa's situation.

A few more expensive players like Fonte sitting on the bench with pockets full of money and we could be in a mess.

Spending to go up is the alternative, of course, but if a team (like Villa) is going to do that it can't go off at half cock - or complete knob in the case of Terry.

[toshes mate]

You do not 'just' suspend a CEO.  Much more to this than meets the eye, I suspect.

[Holders]

Rather a good summary on BBC: https://www.bbc.co.uk/sport/football/44382488

[Riverside]

And according to the Times they still owe us £6 million for McCormack . NOT money we want to lose .....

Villa owe £11m in transfer fees to rival clubs

http://www.thetimes.co.uk/article/a51116b8-69bd-11e8-996c-7589300f03c9


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