I think you're confusing personal tax with corporation tax
companies pay tax on annual profits which will be all income received in that year less all expenses in that year. there's some clever stuff around accruals from previous years/deferred expenses but thats essentially it. you dont get CGT and a 'profit' on a given player is irrelevant as far as tax goes, you look at everything in the round.
current player values are relevant to balance sheets and the solvency/credit worthiness of the business but not tax.
there'll be an accountant along soon to give a proper answer.
Posted By: CWC on September 2nd 2015 at 08:54:22
Message Thread
- Can someone please confirm the following... (NCFC) - Shut the gate, Sep 2, 08:39:31
- As far as I am aware..... (NCFC) - JD3, Sep 2, 09:21:37
- Capital gains tax on profits from sale of players doesn't apply (NCFC) - bowfront1, Sep 2, 09:04:54
- As I understand it (NCFC) - Kangol Canary, Sep 2, 08:42:41
- Noted and appreciated - but if you depreciate and the value of the player appreciates then (NCFC) - Shut the gate, Sep 2, 08:46:05
- I think you're confusing personal tax with corporation tax (NCFC) - CWC, Sep 2, 08:54:22
- Noted and appreciated - but if you depreciate and the value of the player appreciates then (NCFC) - Shut the gate, Sep 2, 08:46:05
- 9 (n/m) (NCFC) - tim berry, Sep 2, 08:41:09
- School tomorrow Tim (n/m) (NCFC) - Shut the gate, Sep 2, 08:41:55
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