MFC and the VAT fiasco

[Gone_Shrimping]

I meant in terms of speculating from the perspective of people having no idea what they are talking about regarding VAT, so it comes across as completely incoherent bollocks - rather than just plain old regular bollocks.

Graham's statement re the VAT didn't help as it was basically nonsensical. I've been a chartered accountant for 40 years and couldn't make head nor tail of his "explanation". So even for someone who works with VAT on a daily basis as his day job, I found the "explanation" as you say, completely incoherent bollocks.

I know the Board have been having a hard time for several years now with the never ending succession of ownership fiascos, but they aren't helping themselves when it comes to communication, or lack of it, with the fans. And yes, I know that some things have to be kept confidential, but there was nothing confidential about giving a more understandable/coherent explanation of what caused the VAT problem, how it will be resolved, timescales, etc., - no need to name names as to the supplier involved (although it's openly known to those with any kind of contact within the club as it's basically a leaky sieve for confidential information for "those in the know" which is also very poor management to let leaks happen.

I agree with you.

I was head of V.A.T. in an office of one of the largest firms of Chartered Accountants in the UK and went on many courses re this Tax but the statements put out by the board sound like a load of cobblers.

My season ticket purchase is on hold pending a proper explanation and resolution of this Embargo.

[Westgate Wanderer]

Surely it was the mfc accountant that agreed to make this payment and he should have known if vat was payable on said invoice before paying it? An oversight or poor accountancy?

[KenH]

Surely it was the mfc accountant that agreed to make this payment and he should have known if vat was payable on said invoice before paying it? An oversight or poor accountancy?

Exactly. Last Autumn the club were advertising for a new accountant, so maybe the new person has discovered past errors or the previous accountant left because of errors. Given the figures involved appear to be huge, it's very strange that (presumably) a board member who authorised the submission and bank payment didn't realise something was wrong.