FORUMS > Hull KR > EBT Payments? |
|
|
Rank | Posts | Team |
Player Coach | 29771 | No Team Selected |
Joined | Service | Reputation |
Jul 2005 | 19 years | |
Online | Last Post | Last Page |
Sep 2024 | Sep 2024 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
: |
|
| Quote: Vicenzo "I would think that being told of a large tax bill would cover AP's comments about a "significant" amount of money wouldn't you. Just for the record, how would you value it. I will stand by my original statement that about a penny would cover it having done due diligence, wouldn't you? As to good will, name a RL club that has ever made a substantial profit. Let's be honest, I love the game but I know where it stands in terms of financial strength. I am not saying about the purchase price to be vindictive, only realistic!'"
No club has much "real" value, in terms of tangible fixed assets, with the possible exception of Leeds. You might be right that AP paid £0 and just agreed to cover the tax bill, but I think it's a bit unlikely. What's clear is that FC has as good a potential as most clubs to make a profit for the following reasons:
- We've touched averages 13.5k gates in recent years, despite being bab on the pitch
- We have a more decent merchandise set-up that turns over £1m+, again, despite being bab on the pitch
- In that context, we probably have a turnover of ~£5m
- Outgoings are relatively fixed; £0.6m to the SMC for all the ground & matchday services; up to £1.65m on player wages
- That leaves quite a bit of cash to either spend on overheads or keep as profit.
- FC's fans respond well to success on the pitch. In 2005 we made a quarter of a million profit.
I think it's this that has led Pearson to invest. In relative terms, rugby is cheap compared to football in terms of player cost, and he could potentially get, say, 15k in at the KC on a regular basis for more investment in players and coaching than the previous board were able or prepare to make, but in relative to football quite a small amount. Whether we actually spent the cap under Hetherington now seems unclear, but if we did, it seems evident that we got poor value for money, exacerbated by a coach out of his depth. AP will have looked at future cashflows based on increased crowds (incentivised initially by pass and maybe gate, price reduction), associated increased merchandise sales driven by improved performances on the pitch through increased spend on coaching, players and youth development. It's a punt, based on potential and projections, but to me he seems to be doing quite a lot to actually make it happen.
Poor Easty. No one else seems to be answering him.
|
|
|
|
Rank | Posts | Team |
Player Coach | 11924 | |
Joined | Service | Reputation |
Jan 2007 | 18 years | |
Online | Last Post | Last Page |
Sep 2024 | Aug 2024 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
30596_1286642206.jpg If there is no struggle, there is no progress. Those who profess to favor freedom, and yet depreciate agitation, are men who want crops without plowing up the ground. They want rain without thunder and lightning. They want the ocean without the awful roar of its many waters. This struggle may be a moral one; or it may be a physical one; or it may be both moral and physical; but it must be a struggle.
Frederick Douglas:d7dc4b20b2c2dd7b76ac6eac29d5604e_30596.jpg |
|
| Probably because the topic is about as interesting as watching a dog wazz up a palm tree.
Bejesus this Croation keyboard is irritating.
|
|
|
|
Rank | Posts | Team |
Player Coach | 29771 | No Team Selected |
Joined | Service | Reputation |
Jul 2005 | 19 years | |
Online | Last Post | Last Page |
Sep 2024 | Sep 2024 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
: |
|
| Quote: Sandra The Terrorist "Probably because the topic is about as interesting as watching a dog wazz up a palm tree.
Bejesus this Croation keyboard is irritating.'"
When are you coming home? Are you missing your green tights and Brylcreem?
|
|
|
|
Rank | Posts | Team |
Player Coach | 23 | No Team Selected |
Joined | Service | Reputation |
Sep 2008 | 16 years | |
Online | Last Post | Last Page |
Sep 2011 | Sep 2011 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
: |
|
| Rovers have no EBT issues to worry about, never used such an agressive tax policy.
|
|
|
|
|
Rank | Posts | Team |
Player Coach | 11924 | |
Joined | Service | Reputation |
Jan 2007 | 18 years | |
Online | Last Post | Last Page |
Sep 2024 | Aug 2024 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
30596_1286642206.jpg If there is no struggle, there is no progress. Those who profess to favor freedom, and yet depreciate agitation, are men who want crops without plowing up the ground. They want rain without thunder and lightning. They want the ocean without the awful roar of its many waters. This struggle may be a moral one; or it may be a physical one; or it may be both moral and physical; but it must be a struggle.
Frederick Douglas:d7dc4b20b2c2dd7b76ac6eac29d5604e_30596.jpg |
|
| Quote: Mrs Barista "When are you coming home? Are you missing your green tights and Brylcreem?'"
Tomorrow.
Off out for a slap up fish supper later, this is the laziest I´ve ever been on holiday.
Brought the Brylcreem with me. I once went to Italy and left all my cosmetics at home, the only hair product I could find was a wax stick. After three days my hair was completely water proof, I could just wash it for an hour and then simply re style, took me about three weeks to get it all out.
Might go swimming in a bit. Rubbish at wimming me. Do frog arms and crawl legs. Ms. Terrorist used to be in a swimming club, think it was run by peadophiles as it was called The Binley Beevers.
|
|
|
|
Rank | Posts | Team |
Player Coach | 1802 | No Team Selected |
Joined | Service | Reputation |
Jul 2005 | 19 years | |
Online | Last Post | Last Page |
Apr 2012 | Oct 2011 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
Mo. "Show Homer the exit Barney"
Barney. "There's an exit?": |
|
| So Mrs.B. Having done due diligence on Hull FC what would you give to take it over? You cannot value "potential" as you well know! I will stand by my valuation and the proviso that I would cover the known debts. Be aware that when the Allams took over City they had a cluase that any "unknowns" would be down to the previous owner, not that I am saying this is the situation at your club!!!
|
|
|
|
|
Rank | Posts | Team |
Moderator | 36786 | |
Joined | Service | Reputation |
Jul 2003 | 21 years | |
Online | Last Post | Last Page |
Aug 2024 | May 2023 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
6505_1460484023.jpg [i:10za56ci]Hold on to me baby, his bony hands will do you no harm
It said in the cards, we lost our souls to the Nameless One[/i:10za56ci]:d7dc4b20b2c2dd7b76ac6eac29d5604e_6505.jpg |
Moderator
|
| Quote: Vicenzo "As I am banned "sine die" on your boards for running rings round Paul M and making him look a fool'"
Still suffering the same basic failure to understand financials I see.
|
|
|
|
Rank | Posts | Team |
Player Coach | 8741 | |
Joined | Service | Reputation |
Sep 2005 | 19 years | |
Online | Last Post | Last Page |
Dec 2023 | May 2022 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
: |
|
| Oh great, 7 days since our season finished,and we are already into the annual "financial discussions". Can somebody wake me up in February, this is worse than going to work.
I don't even know what EBT stands for, so I can't answer Easty's questions. Maybe it stands for Easty's Boring Thread?
|
|
|
|
|
Rank | Posts | Team |
Player Coach | 29771 | No Team Selected |
Joined | Service | Reputation |
Jul 2005 | 19 years | |
Online | Last Post | Last Page |
Sep 2024 | Sep 2024 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
: |
|
| Quote: Vicenzo "So Mrs.B. Having done due diligence on Hull FC what would you give to take it over? You cannot value "potential" as you well know! I will stand by my valuation and the proviso that I would cover the known debts. Be aware that when the Allams took over City they had a cluase that any "unknowns" would be down to the previous owner, not that I am saying this is the situation at your club!!!'"
How would you define goodwill, then? It's "That part of business value over and above the value of identifiable business assets." NPV of future cashflows is a pretty standard way to value a business.
|
|
|
|
Rank | Posts | Team |
Player Coach | 29771 | No Team Selected |
Joined | Service | Reputation |
Jul 2005 | 19 years | |
Online | Last Post | Last Page |
Sep 2024 | Sep 2024 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
: |
|
| Quote: SirStan "Oh great, 7 days since our season finished,and we are already into the annual "financial discussions". Can somebody wake me up in February, this is worse than going to work.
I don't even know what EBT stands for, so I can't answer Easty's questions. Maybe it stands for Easty's Boring Thread?'"
Tbf, Hartleystash has definitively answered the question- Rovers have zero exposure on tax issues. The rest is just people derailing the thread to have a go at me .
|
|
|
|
Rank | Posts | Team |
Player Coach | 8741 | |
Joined | Service | Reputation |
Sep 2005 | 19 years | |
Online | Last Post | Last Page |
Dec 2023 | May 2022 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
: |
|
| I'm glad our alleged new coach has a degree in Economics, maybe he can join in conversations on here!
I almost broke out into "My Perfect Cousin" then, but realised that would be de-railment.
|
|
|
|
Rank | Posts | Team |
Player Coach | 30147 | |
Joined | Service | Reputation |
Mar 2007 | 17 years | |
Online | Last Post | Last Page |
Sep 2024 | Sep 2024 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
32641_1503834456.jpg The poor man's bonaire:d7dc4b20b2c2dd7b76ac6eac29d5604e_32641.jpg |
|
| Quote: Vicenzo "As I am banned "sine die" on your boards for running rings round Paul M and making him look a fool,perhaps you can explain why some of your fans imagine that AP paid any money to take over the club. You must realise as an accountant, that a business with no fixed assets and with a potential £2million tax bill would not be worth a copper coin and the only deal open to the directors responsible is an offer to take over for say a penny and to take over the aforementioned substantial debts.'"
I really hope that's true and that by reducing the HMRC debt by £1m he's effectively robbed it from hetherington's purse
|
|
|
|
Rank | Posts | Team |
Moderator | 12633 | |
Joined | Service | Reputation |
Jun 2007 | 17 years | |
Online | Last Post | Last Page |
Sep 2024 | Sep 2024 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
33809_1522680904.png 'Thus I am tormented by my curiosity and humbled by my ignorance.' from History of an Old Bramin, The New York Mirror (A Weekly Journal Devoted to Literature and the Fine Arts), February 16th 1833.:d7dc4b20b2c2dd7b76ac6eac29d5604e_33809.png |
Moderator
|
| Reet...
EBT is Employee Benefit Trust. Tax avoidance schemes - note 'avoidance' rather than 'evasion'. A loophole, the closure of which is being applied retrospectively. Which is a fairly tough stance from HMRC - perhaps reflecting our nation's indebtedness.
rlhttp://www.contractorfriend.co.uk/contractor-news/view/hmrc-sound-death-knell-for-ebt-tax-avoidance-loan-schemes-578rl
We don't know Rovers' level of liability - and as we haven't had a change of board, with the new wanting to rubbish the reputation of the old, I don't see any need for us to. (BTW Adam, if you really want to stick the boot in, I assume you could allow Paul Cooke to tell his story now. )
Now that we're all on the same page, FC and Rovers fans alike, of deciding that aspiration isn't arrogance and investment isn't necessarily profligate, I see no reason for us to fall out.
|
|
|
|
Rank | Posts | Team |
Player Coach | 5659 | |
Joined | Service | Reputation |
Mar 2007 | 18 years | |
Online | Last Post | Last Page |
Aug 2024 | Feb 2023 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
32444_1318716838.jpg [quote="Philip Larkin":2lhqd089]
There ain’t no music
East side of this city
That’s mellow like mine is,
That’s mellow like mine.
[/quote:2lhqd089]:d7dc4b20b2c2dd7b76ac6eac29d5604e_32444.jpg |
|
| Quote: hartleystash "Rovers have no EBT issues to worry about, never used such an agressive tax policy.'"
Hiya Rob!
You've popped out from under your umbrella for your annual visit to the forum, then?
|
|
|
|
Rank | Posts | Team |
Player Coach | 5659 | |
Joined | Service | Reputation |
Mar 2007 | 18 years | |
Online | Last Post | Last Page |
Aug 2024 | Feb 2023 | LINK |
Milestone Posts |
|
Milestone Years |
|
Location |
|
Signature |
32444_1318716838.jpg [quote="Philip Larkin":2lhqd089]
There ain’t no music
East side of this city
That’s mellow like mine is,
That’s mellow like mine.
[/quote:2lhqd089]:d7dc4b20b2c2dd7b76ac6eac29d5604e_32444.jpg |
|
| Quote: Jake the Peg "I really hope that's true and that by reducing the HMRC debt by £1m he's effectively robbed it from hetherington's purse'"
That would have a warm feeling to it.
|
|
|
|
|
|