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Post by turnpike on Mar 13, 2016 13:17:05 GMT
Am I right in saying Higgs said a couple of seasons ago we needed to average 6500 per game break even. If I am right and we are now dept free then surely we must be making a profit already. Happy days ? Would be nice if we were, but we have acquired some new people (e.g. the performance analyst person), who presumably are being paid. I would expect the chairman etc are employed by Dwane Sports so wages don't come out of the football budget
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Post by Topper Gas on Mar 13, 2016 14:04:39 GMT
I think our playing budget has gone up since Christmas! But that was surely always the plan anyway, the only players signed apart from Gaffney, who replaced Blisset on the wage bill, and Lawrence, who was signed pre Weal, & McBurney who was prevously at Newport so unlikely to be a high earner, the SMCP/FFP seems irrelevant this season as we're probably no where near 55% of our turnover, particularly given it's likely to be higher than it's been since our Div 1 days, if not even higher? Paying the Chairman etc via Dwane Sports would surely cut our turnover/the 55% figure so make no financial sense, surely it's better to pay them from the club's funds and top them up from Al-Q's own money to boost turnover? As far as HL are concerned, I'd imagine Al-Q's financial advisors are an international set up not just a UK based outfit.
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Post by peterparker on Mar 13, 2016 14:12:28 GMT
That really is tremendous news. If we truly are close to debt free and now breaking even (or even making a small profit) on an ongoing basis then it's really something special. Given Wael's proposed strategy for the club you'd really expect that this is a path he'd want to continue down in terms of making the club self-funding and sustainable in the long run. A huge amount of credit must go to DC as well for putting together a squad that has been promoted last season and is challenging for promotion this season - and on a fraction of the budget of previous years if the 9500/6500 number is to be believed. What a team the club appears to be putting in place. Officially getting excited about this now. I doubt we're actually debt free just the debts are no longer external debts to loan co's like MSP, it wouldn't make business sense to just write off £10m of debts in one go unless the Al-Qadi's are so weallthy they don't to have worry but such things, which seems unlikely if they've join to the trouble of setting up Dwane Sports in Jersey. It's still great news regardless. So are we tax dodgers now? Just want to be clear when people start slagging off Lansdown
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Post by Big Jock on Mar 13, 2016 14:22:13 GMT
Pretty much same as Pantsdown Fc wees wil alwaes run at a loss, but th' loss is covered. Thits fitba fur yous.
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Post by gasincider on Mar 13, 2016 14:57:03 GMT
I think our playing budget has gone up since Christmas! But that was surely always the plan anyway, the only players signed apart from Gaffney, who replaced Blisset on the wage bill, and Lawrence, who was signed pre Weal, & McBurney who was prevously at Newport so unlikely to be a high earner, the SMCP/FFP seems irrelevant this season as we're probably no where near 55% of our turnover, particularly given it's likely to be higher than it's been since our Div 1 days, if not even higher? Paying the Chairman etc via Dwane Sports would surely cut our turnover/the 55% figure so make no financial sense, surely it's better to pay them from the club's funds and top them up from Al-Q's own money to boost turnover? As far as HL are concerned, I'd imagine Al-Q's financial advisors are an international set up not just a UK based outfit. Topper, bless you. If you keep forensically examining every post, you will end up doing an autopsy on yourself You say Gaffney just replaced Blisset on the wage bill. No. He was a new employee in his own right. Do you think Blisset walked away for nothing? However much Blisset was given to pay up his contract also comes out of our playing budget. It's wages paid in advance. Ask the revenue, they will tell you that. However, you are right with regard to FFP. On our turnover, DC could have been given a budget of about £1.5 million. That of course is if FFP applies to us this year. Normally a team getting elevated from the conference gets a two year sabbatical under those rules, or so I am led to believe. The playing budget remained at £800,000 until NH left. Whether it has now been improved will be a matter between our owners and the manager.
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Post by knowall on Mar 13, 2016 16:00:50 GMT
I doubt we're actually debt free just the debts are no longer external debts to loan co's like MSP, it wouldn't make business sense to just write off £10m of debts in one go unless the Al-Qadi's are so weallthy they don't to have worry but such things, which seems unlikely if they've join to the trouble of setting up Dwane Sports in Jersey. It's still great news regardless. So are we tax dodgers now? Just want to be clear when people start slagging off Lansdown Dwayne Sports was registered in Jersey before Rovers were approached so they are an overseas Company investing in the UK. SL moved abroad in order to mitigate his tax bill Different entirely
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Post by Deleted on Mar 13, 2016 16:05:19 GMT
I wonder how SL will fare under the new budget tax proposals regardinguk passport holders residing abroad to avoid tax.Apparently,according to leaks,the time spent in the uk for these people is to be drastically reduced and money earned from UK business and investments will be liable to uk tax laws
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Post by lulworthgas on Mar 13, 2016 16:23:33 GMT
So are we tax dodgers now? Just want to be clear when people start slagging off Lansdown Dwayne Sports was registered in Jersey before Rovers were approached so they are an overseas Company investing in the UK. SL moved abroad in order to mitigate his tax bill Different entirely This, we have been bought by a holding company from jersey. SL moved to gurnsey to avoid paying uk tax
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Post by peterparker on Mar 13, 2016 17:38:42 GMT
I wonder how SL will fare under the new budget tax proposals regardinguk passport holders residing abroad to avoid tax.Apparently,according to leaks,the time spent in the uk for these people is to be drastically reduced and money earned from UK business and investments will be liable to uk tax laws I am sure he will manage om a bit less.
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Post by Topper Gas on Mar 13, 2016 18:00:31 GMT
So are we tax dodgers now? Just want to be clear when people start slagging off Lansdown Dwayne Sports was registered in Jersey before Rovers were approached so they are an overseas Company investing in the UK. SL moved abroad in order to mitigate his tax bill Different entirely But wasn't the company just set up to buy a football club if he was only registered in August?
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Post by Topper Gas on Mar 13, 2016 18:08:03 GMT
But that was surely always the plan anyway, the only players signed apart from Gaffney, who replaced Blisset on the wage bill, and Lawrence, who was signed pre Weal, & McBurney who was prevously at Newport so unlikely to be a high earner, the SMCP/FFP seems irrelevant this season as we're probably no where near 55% of our turnover, particularly given it's likely to be higher than it's been since our Div 1 days, if not even higher? Paying the Chairman etc via Dwane Sports would surely cut our turnover/the 55% figure so make no financial sense, surely it's better to pay them from the club's funds and top them up from Al-Q's own money to boost turnover? As far as HL are concerned, I'd imagine Al-Q's financial advisors are an international set up not just a UK based outfit. Topper, bless you. If you keep forensically examining every post, you will end up doing an autopsy on yourselfYou say Gaffney just replaced Blisset on the wage bill. No. He was a new employee in his own right. Do you think Blisset walked away for nothing? However much Blisset was given to pay up his contract also comes out of our playing budget. It's wages paid in advance. Ask the revenue, they will tell you that. However, you are right with regard to FFP. On our turnover, DC could have been given a budget of about £1.5 million. That of course is if FFP applies to us this year. Normally a team getting elevated from the conference gets a two year sabbatical under those rules, or so I am led to believe. The playing budget remained at £800,000 until NH left. Whether it has now been improved will be a matter between our owners and the manager. Isn't that the kettle calling the pot black given your detailed response? Anyway doing an autopsy on myself sounds far to painful for my liking.
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Post by womble on Mar 13, 2016 18:13:25 GMT
Topper, bless you. If you keep forensically examining every post, you will end up doing an autopsy on yourselfYou say Gaffney just replaced Blisset on the wage bill. No. He was a new employee in his own right. Do you think Blisset walked away for nothing? However much Blisset was given to pay up his contract also comes out of our playing budget. It's wages paid in advance. Ask the revenue, they will tell you that. However, you are right with regard to FFP. On our turnover, DC could have been given a budget of about £1.5 million. That of course is if FFP applies to us this year. Normally a team getting elevated from the conference gets a two year sabbatical under those rules, or so I am led to believe. The playing budget remained at £800,000 until NH left. Whether it has now been improved will be a matter between our owners and the manager. Isn't that the kettle calling the pot black given your detailed response? Anyway doing an autopsy on myself sounds far to painful for my liking. Wouldn't that be a post-mortem post-mortem?
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Post by beaver132 on Mar 13, 2016 18:36:26 GMT
Isn't that the kettle calling the pot black given your detailed response? Anyway doing an autopsy on myself sounds far to painful for my liking. Wouldn't that be a post-mortem post-mortem? Can't wait for for the pre prepared , post ironic pre-empted post mortem with the preliminary results posted by pre paid postal packet. Previously thought to be pre eminently preposterous.
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Post by Deleted on Mar 14, 2016 14:52:04 GMT
I wonder how SL will fare under the new budget tax proposals regardinguk passport holders residing abroad to avoid tax.Apparently,according to leaks,the time spent in the uk for these people is to be drastically reduced and money earned from UK business and investments will be liable to uk tax laws I am sure he will manage om a bit less. But surely that's why he moved to Guernsey in the first place so he could keep all his earnings not 55% of it
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Post by Topper Gas on Mar 14, 2016 16:16:21 GMT
I assume he must pay some tax in the CI?? I wouldn't read too much into budget leaks until they are announced in the budget as so far pensions, fuel duty & insurance tax have all been rumoured to be increasing but you can bet they all won't be going up.
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Post by knowall on Mar 14, 2016 22:29:49 GMT
Dwayne Sports was registered in Jersey before Rovers were approached so they are an overseas Company investing in the UK. SL moved abroad in order to mitigate his tax bill Different entirely But wasn't the company just set up to buy a football club if he was only registered in August? Yes - a company investing in buying a football club in the UK
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Post by Deleted on Mar 15, 2016 14:39:38 GMT
Dwayne Sports was registered in Jersey before Rovers were approached so they are an overseas Company investing in the UK. SL moved abroad in order to mitigate his tax bill Different entirely But wasn't the company just set up to buy a football club if he was only registered in August? In the overall scheme of things does it really matter?
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Post by Deleted on Mar 15, 2016 14:41:44 GMT
I assume he must pay some tax in the CI?? I wouldn't read too much into budget leaks until they are announced in the budget as so far pensions, fuel duty & insurance tax have all been rumoured to be increasing but you can bet they all won't be going up. Pensioners have already been advised of the increase,albeit paltry,a few weeks ago
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Post by Deleted on Mar 15, 2016 14:53:02 GMT
I assume he must pay some tax in the CI?? I wouldn't read too much into budget leaks until they are announced in the budget as so far pensions, fuel duty & insurance tax have all been rumoured to be increasing but you can bet they all won't be going up. Pensioners have already been advised of the increase,albeit paltry,a few weeks ago Padstow - Will you be using the increase to buy two packets of Wurther's Original's a week, or will you be sticking to just the one?
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Post by Deleted on Mar 15, 2016 14:57:50 GMT
That's the wife,s decision,.You should know things like that,once you get married all your previous powers of decision making are automatically removed
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