Presumably though no tax would be payable anyway...

the entity would not make a profit as surely the donations made to the entity could be argued to be capital in nature or if considered to be income then when paid to NCFC would be also a deductible expense for tax purposes therefore leaving no profit, the latter would obviously only work if the net effect each year was 0, which isn't ideal.

I may be wrong though.

OTBC

Posted By: SimonOTBC on January 24th 2008 at 10:36:16

Message Thread

The transfer fund thing... (NCFC) - BerlinCanary, Jan 24, 09:44:42
- As I said earlier, I have no idea how big this will be, so I can't (NCFC) - CarrowRoeder, Jan 24, 09:49:00
  - A charitable trust needs a charitable purpose (NCFC) - Five guys named Creo, Jan 24, 09:58:03
    - The relief of those with disability: (NCFC) - Drurys Left Nut, Jan 24, 10:20:37
      - fucking genius! (n/m) (NCFC) - SCC 28, Jan 24, 10:25:59
    - The advancement of amateur sport (NCFC) - Dave in France, Jan 24, 10:01:17
    - if we can sign the next Wayne Rooney (NCFC) - blindasabat, Jan 24, 10:01:09
    - and if none, does it have tax implications ? (n/m) (NCFC) - Steve in Holland, Jan 24, 09:59:43
      - Well yesterday I asked (NCFC) - Five guys named Creo, Jan 24, 10:01:42
        
        Presumably though no tax would be payable anyway... (NCFC) - SimonOTBC, Jan 24, 10:36:16
        
        Presumably the club would have to pay tax on the donation then... (n/m) (NCFC) - BerlinCanary, Jan 24, 10:53:03
        
        I really don't know to be honest..... (NCFC) - SimonOTBC, Jan 24, 11:06:04
        
        Having said that.... (NCFC) - SimonOTBC, Jan 24, 11:11:09
        
        You are having a meaningless debate (NCFC) - Five guys named Creo, Jan 24, 11:31:33
        
        Although that it is true... (NCFC) - SimonOTBC, Jan 24, 11:53:21
        
        What speaks volumes about it really (NCFC) - Five guys named Creo, Jan 24, 11:54:56
        
        "high-risk investment scheme" (NCFC) - BerlinCanary, Jan 24, 11:45:21
        
        from the Pink un messageboard...(!) (NCFC) - blindasabat, Jan 24, 11:53:17
        
        Not really I suspect it has no value anyway (NCFC) - Five guys named Creo, Jan 24, 11:52:14
        
        Note that their minimum individual contribution is £1,000 (n/m) (NCFC) - Arizona Bay, Jan 24, 11:54:45
        
        Tax on interest, at least (n/m) (NCFC) - Steve in Holland, Jan 24, 10:37:26
  - If there are so many things still to do, how come you spend so much time on here? (n/m) (NCFC) - Chalk Hill Bitter, Jan 24, 09:56:32
    - Seriously he is working on it by being here - awareness and publicity (n/m) (NCFC) - Steve in Holland, Jan 24, 10:00:20
      - To 106 people currently on line? So 25% of them = £1,560? (n/m) (NCFC) - Chalk Hill Bitter, Jan 24, 10:01:48
        
        Don't knock it. That's half a day's wages for Tiny (n/m) (NCFC) - Steve in Holland, Jan 24, 10:09:18
        
        Oh, but we're not allowed to do wages. That's a Peter Thorne right there, (n/m) (NCFC) - Steve in Holland, Jan 24, 10:09:48
- nail head (n/m) (NCFC) - Steve in Holland, Jan 24, 09:47:49

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