Points deduction incoming?

[NottsRam77]

1 hour ago, Charlotte Ram said:

You are correct about the HMRC, as anything that increases the profit through your amortisation policy would mean more tax paid to them, although in the case of the Rams, that is not the case because we still lost money.

You are also correct that Amortisation policy of an intangible asset i.e. the players contract, is up to the company concerned and is not covered by FRS 102, so the EFL's stance has no legal basis on fact. Just because the other clubs do straight line amortisation is irrelevant, we did not break any laws or regulations, so my view is "see you in court axs wipes"  

 

Completely agree with all of this 

[Gringo]

53 minutes ago, Bianoic said:

Not so sure Charlotte 

Dont HMRC exclude things like depreciation and amortisation when calculating taxable profits ?

No

[Gringo]

51 minutes ago, NottsRam77 said:

I thought it was the other way round that they do include and take into account depreciation of assets 

i stand to be corrected though 

Yes depreciation and amortisation which is a fancy word for depreciation of a non capital item i.e. intangible such as a players contract can be offset against tax

[Woodley Ram]

2 hours ago, duncanjwitham said:

But there is no difference as far as the EFL regs are concerned. It basically says you must comply with FRS102 full stop.  Like I’ve said multiple times on here already, if the EFL want a different version of FRS102 then they should write it, publish it, enforce it and so on.  You can’t have the situation where they make up unwritten extra rules whenever they feel like it.

I don’t disagree with you. I have heard FRS102, ‘my way’ by the EFL will be in the shops for Christmas bound to be a best seller although Waterstones cannot decide if goes under fiction or non fiction 

[Gringo]

Today at 11.59pm I think there will be an EFL statement, too many leaks and speculation for it not to happen.

[AbuDerbyDave]

58 minutes ago, Charlotte Ram said:

Today at 11.59pm I think there will be an EFL statement, too many leaks and speculation for it not to happen.

They will deduct us 6 points but we will still be 3 points above the humps at 2.30 tomorrow 

[AbuDerbyDave]

17 minutes ago, AbuDerbyDave said:

They will deduct us 6 points but we will still be 3 points above the humps at 2.30 tomorrow 

Should be 2 points & Gumps Got to stop drinking ?

[NottsRam77]

1 hour ago, Charlotte Ram said:

Today at 11.59pm I think there will be an EFL statement, too many leaks and speculation for it not to happen.

Thanks … now i cant go to bed now ??

[Bianoic]

2 hours ago, Charlotte Ram said:

No

“However for tax purposes depreciation is not an allowable expense. So this will be added back when calculating your taxable profit. Instead it will be replaced with 'Capital Allowances' - a set of allowances which may be more or less generous than the depreciation charge depending on the asset purchased”

[AbuDerbyDave]

7 minutes ago, Bianoic said:

“However for tax purposes depreciation is not an allowable expense. So this will be added back when calculating your taxable profit. Instead it will be replaced with 'Capital Allowances' - a set of allowances which may be more or less generous than the depreciation charge depending on the asset purchased”

This is one of those times when I’m talking to a person I just nod ?

[ilkleyram]

8 hours ago, hintonsboots said:

Did they single you out for that ?

He was 33 at the time, not 45

[Rampage]

2 hours ago, AbuDerbyDave said:

This is one of those times when I’m talking to a person I just nod ?

Me too.

[Chester40]

No way is Mel sitting talking to the EFL if he genuinely believes they are dead set on issuing a 12 point deduction. 

He would be out fighting and pushing our side in the media. 

He obviously wants to draw a line under things, get a couple of signings over the line, steady the ship and then sell up. 

So - my view..

In an ideal world he wants 0 point deduction and a small fine or suspended points deduction. 

He would take 3 points as a compromise, a disappointment but not a disaster. 

6 points is a very bitter pill to swallow but possibly just about bearable if we can get a few more points on the board and ultimately a takeover is the result. 

Anything more than that is a definite, no.