Sparkle Posted July 21, 2021 Share Posted July 21, 2021 9 minutes ago, i-Ram said: I almost agree. Not being able to pay up in respect of our transfer obligations is worse in my book. I understand it is alleged that we are outstanding on fees due to Peterborough, and perhaps others. I thought we had paid that bit? Link to comment Share on other sites More sharing options...
Animal is a Ram Posted July 21, 2021 Share Posted July 21, 2021 Just now, Sparkle said: I thought we had paid that bit? The instalments infringement has been removed from the 'embargo tracker', so yes. Sparkle 1 Link to comment Share on other sites More sharing options...
Gee SCREAMER !! Posted July 21, 2021 Share Posted July 21, 2021 18 minutes ago, i-Ram said: I almost agree. Not being able to pay up in respect of our transfer obligations is worse in my book. I understand it is alleged that we are outstanding on fees due to Peterborough, and perhaps others. That probably explains Marriott of to Wednesday when we had one 36 year old striker. Probably also explains the new contract offer - 500 k sale to clear add ons. Thanks to the EFL they got him back for free and we owe them money -fab. Link to comment Share on other sites More sharing options...
Spanish Posted July 21, 2021 Share Posted July 21, 2021 3 minutes ago, Gee SCREAMER !! said: That probably explains Marriott of to Wednesday when we had one 36 year old striker. Probably also explains the new contract offer - 500 k sale to clear add ons. Thanks to the EFL they got him back for free and we owe them money -fab. was it possible that the 1 year extension was denied because we still owed them money though? Link to comment Share on other sites More sharing options...
Angry Ram Posted July 21, 2021 Share Posted July 21, 2021 3 hours ago, Tyler Durden said: I'm totally digusted and dismayed that on a football forum there appears to be an absolute lack of understanding of basic tax and accounting practices. Appalled from Thames Ditton. Posh Git... Tyler Durden 1 Link to comment Share on other sites More sharing options...
Woodley Ram Posted July 21, 2021 Share Posted July 21, 2021 4 hours ago, Tyler Durden said: I'm totally digusted and dismayed that on a football forum there appears to be an absolute lack of understanding of basic tax and accounting practices. Appalled from Thames Ditton. I had an issue with the numbers as I only have 10 toes, but I called a work colleague from Nottingham for help as he has a lot more than 10 toes Tyler Durden, jono and Premier ram 3 Link to comment Share on other sites More sharing options...
Gee SCREAMER !! Posted July 21, 2021 Share Posted July 21, 2021 21 minutes ago, Woodley Ram said: I had an issue with the numbers as I only have 10 toes, but I called a work colleague from Nottingham for help as he has a lot more than 10 toes No opposable thumbs though. Back too square one. Woodley Ram 1 Link to comment Share on other sites More sharing options...
TooFarInToTurnRed Posted July 21, 2021 Share Posted July 21, 2021 5 hours ago, Carnero said: Actually, the profit is the sale price less the original cost + any enhancement expenditure. Value in the accounts doesn't come into it. You’re absolutely wrong! The asset value on the balance sheet is absolutely what you use to determine the profit on the transaction. How you determine the asset value would include the costs you state less any depreciation or impairment. Link to comment Share on other sites More sharing options...
Carnero Posted July 21, 2021 Share Posted July 21, 2021 22 minutes ago, TooFarInToTurnRed said: You’re absolutely wrong! The asset value on the balance sheet is absolutely what you use to determine the profit on the transaction. How you determine the asset value would include the costs you state less any depreciation or impairment. ? righto mate. Not for tax purposes. Taxable profit = proceeds minus costs. Link to comment Share on other sites More sharing options...
Carnero Posted July 21, 2021 Share Posted July 21, 2021 https://www.gov.uk/tax-sell-property/work-out-your-gain Some light reading for you @TooFarInToTurnRed Link to comment Share on other sites More sharing options...
G STAR RAM Posted July 21, 2021 Share Posted July 21, 2021 33 minutes ago, TooFarInToTurnRed said: You’re absolutely wrong! The asset value on the balance sheet is absolutely what you use to determine the profit on the transaction. How you determine the asset value would include the costs you state less any depreciation or impairment. Accounting profit would be sale proceeds less carrying value (which would be original cost or valuation plus improvements, less any amortisation or impairment). Taxable profit would be sale proceeds less original cost. Accounting profit was circa £40m. Taxable profit was circa £55m. Both from memory. Link to comment Share on other sites More sharing options...
CBRammette Posted July 21, 2021 Share Posted July 21, 2021 8 minutes ago, Carnero said: https://www.gov.uk/tax-sell-property/work-out-your-gain Some light reading for you @TooFarInToTurnRed It will be light if from main HMRC website ? Link to comment Share on other sites More sharing options...
Carnero Posted July 21, 2021 Share Posted July 21, 2021 20 minutes ago, CBRammette said: It will be light if from main HMRC website ? He's welcome to dig further into it if he likes ? CBRammette 1 Link to comment Share on other sites More sharing options...
kevinhectoring Posted July 21, 2021 Share Posted July 21, 2021 (edited) 9 hours ago, Carnero said: It's all moot anyway as I don't believe there is any corporation tax to pay when it is an intra-group transfer. Yes. Unless the lenders to the stadium co required their special purpose borrower to stay out of the tax group Which they would have done if they had thought about it Edited July 21, 2021 by kevinhectoring Link to comment Share on other sites More sharing options...
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