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I Am A Magic Mushroom

BBC link - affect us ?

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It would be interesting to see the detail on this. There are two sorts of payment systems for corporation tax. ''Small'' companies pay 9 months after their accounting year end. Bigger companies pay installments in months 7 and 10 of the accounting period, and then one month and four months after the accounting period end. Therefore, a ''small'' club has a whole 14 month advantage over a bigger club in when they have to start paying their tax bills. Further, clubs where there are significant shareholder loans may have an even bigger advantage as the interest payments on their loans significantly reduce the corporation tax bill of the club, passing it elsewhere in the ownership structure (or even offshore).

So, whilst I support the sentiment of this move, I think there could be an awful lot of devil in the detail on it, as with anything tax related.

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[quote user="blahblahblah"]we are up to date apparently.[/quote]I remember this also.  Us being up to date when so many others weren''t was held up as a critism of the way the club was run iirc.

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[quote user="The Butler"]Corporation tax is based on a profit. We made one??[/quote]Clubs mostly owe income tax and NI contributions on player wages, VAT etc.  Corporation tax is a very small part of any debts.BTW I found the old posts, only shyster was critising and he was actually critising feeling superior to Ipswich for paying our taxes. so i did not recall correctly.

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