Ghost of Clough Posted March 11, 2020 Share Posted March 11, 2020 Boro's accounts are in. They made a £2m pre-tax profit in the 18/19 period, after making a profit on sales of over £33m! In their two years of parachute payments worth almost £80m, they made a combined loss of £4.6m. They're miles inside the P&S limit for the period ending 2019 thanks to a nice profit in the Premier League season, but it'll be squeaky bum time for them in the current season. No wonder Gibson was so upset with not being in the playoffs last season. Link to comment Share on other sites More sharing options...
richinspain Posted March 11, 2020 Share Posted March 11, 2020 1 hour ago, Ghost of Clough said: Boro's accounts are in. They made a £2m pre-tax profit in the 18/19 period, after making a profit on sales of over £33m! In their two years of parachute payments worth almost £80m, they made a combined loss of £4.6m. They're miles inside the P&S limit for the period ending 2019 thanks to a nice profit in the Premier League season, but it'll be squeaky bum time for them in the current season. No wonder Gibson was so upset with not being in the playoffs last season. But they won't be in the Championship next year. Or does League still count? Link to comment Share on other sites More sharing options...
Ghost of Clough Posted March 11, 2020 Share Posted March 11, 2020 5 minutes ago, richinspain said: But they won't be in the Championship next year. Or does League still count? As League 1 is still an EFL competition, it’ll be fairly straightforward to penalise them if the do end up failing P&S Link to comment Share on other sites More sharing options...
Van der MoodHoover Posted March 12, 2020 Share Posted March 12, 2020 20 hours ago, Ghost of Clough said: Boro's accounts are in. They made a £2m pre-tax profit in the 18/19 period, after making a profit on sales of over £33m! In their two years of parachute payments worth almost £80m, they made a combined loss of £4.6m. They're miles inside the P&S limit for the period ending 2019 thanks to a nice profit in the Premier League season, but it'll be squeaky bum time for them in the current season. No wonder Gibson was so upset with not being in the playoffs last season. Ah, but if they make some thumping losses at MFC they could always sell the tax losses to Bulkhaul to reduce the overall tax burden for the Gibson O'Neill Group. Its all above board, after all their company website states its policy..... THE GROUP'S ATTITUDE TO TAX PLANNING The Group is committed to act with integrity and transparency and to comply fully with UK tax law. We aim to make timely and accurate tax returns and payments which reflect our fiscal obligations to Government. Overall,we aim for certainty in our tax affairs. To ensure that we are able to take advantage of all tax opportunities which are open to us we work together with our professional advisers to understand legislative change. The Group’s tax planning is driven by the commercial needs of the businesses. We accept that from time to time our interpretation of the tax law may be opposed to HMRC’s view and we therefore seek appropriate independent advice including tax counsel,as appropriate.We do not use artificial tax avoidance schemes to reduce our tax liabilities. ? Link to comment Share on other sites More sharing options...
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