Never to the dark side Posted July 11, 2005 Report Share Posted July 11, 2005 If I own two seperate buisness but are unrelated in what they do.If one loses three million in one year and the other buiness makes a profitof three million in one year Is any tax payable?Any accountants out there? Link to comment Share on other sites More sharing options...
Toulou$e-Red Posted July 11, 2005 Report Share Posted July 11, 2005 lost me there Link to comment Share on other sites More sharing options...
Never to the dark side Posted July 11, 2005 Author Report Share Posted July 11, 2005 Yes,a lot of money has/is being lost.Thats why I need to hear from an accountant. Link to comment Share on other sites More sharing options...
South Coast Red Posted July 11, 2005 Report Share Posted July 11, 2005 If I own two seperate buisness but are unrelated in what they do.If one loses three million in one year and the other buiness makes a profitof three million in one year Is any tax payable?Any accountants out there?←If the businesses are Ltd Companies (i.e not Self Employed) and both are unrelated then they pay their own Corporation Tax.What's the point of the question ? Link to comment Share on other sites More sharing options...
The Man In Black Posted July 11, 2005 Report Share Posted July 11, 2005 I can see where he's coming from.Although as far as I'm aware NTTDS it's not the person that is taxed but the seperate companies. Link to comment Share on other sites More sharing options...
Dorset_Cider Posted July 11, 2005 Report Share Posted July 11, 2005 If the businesses are Ltd Companies (i.e not Self Employed) and both are unrelated then they pay their own Corporation Tax.What's the point of the question ? ←I think NTTDS was trying to find out if one company could offset its loses again the other in a round about way?If you know that this is not possible then you have answered the point of the question, well from NTTDS point of view? Link to comment Share on other sites More sharing options...
BCAGFC Posted July 11, 2005 Report Share Posted July 11, 2005 Not losing money anymore. BCAGFC Link to comment Share on other sites More sharing options...
AndrewTN Posted July 11, 2005 Report Share Posted July 11, 2005 So here come the conspiracy theories....so now you are suggesting that BCFC is being used by our board of directors & chairman as a tax write off...get real! Besides there are other ways to get tax breaks than dealing with the baggage that comes from running a football club. Or was your question relating to Carduff & Sam the man? Link to comment Share on other sites More sharing options...
Guest BeNeRz Posted July 11, 2005 Report Share Posted July 11, 2005 If I own two seperate buisness but are unrelated in what they do.If one loses three million in one year and the other buiness makes a profitof three million in one year Is any tax payable?Any accountants out there?← <--- has 3 brain cells need to make clearer sense <--- Link to comment Share on other sites More sharing options...
lukejones2 Posted July 11, 2005 Report Share Posted July 11, 2005 If I own two seperate buisness but are unrelated in what they do.If one loses three million in one year and the other buiness makes a profitof three million in one year Is any tax payable?Any accountants out there?←There are tax breaks which can be had from owning a loss making business, yes.Do you really think that's why Steve L and the board would be throwing money at City? I certainly don't!! There are an awful lot of loss making organisations out there and nobody in their right mind would take on a football club for financial gain in any way shape or form! Link to comment Share on other sites More sharing options...
Cardy Posted July 11, 2005 Report Share Posted July 11, 2005 There are tax breaks which can be had from owning a loss making business, yes.Do you really think that's why Steve L and the board would be throwing money at City? I certainly don't!! There are an awful lot of loss making organisations out there and nobody in their right mind would take on a football club for financial gain in any way shape or form!←You have just totally contradicted yourself my friend. Link to comment Share on other sites More sharing options...
Spud55 Posted July 11, 2005 Report Share Posted July 11, 2005 You have just totally contradicted yourself my friend.←How so ? IF you were going to take on a loss making venture would it be one that looses 1.3/1.4 million plus per year, when there are many, many other loss making ventures out there ? Link to comment Share on other sites More sharing options...
lukejones2 Posted July 11, 2005 Report Share Posted July 11, 2005 You have just totally contradicted yourself my friend.←I'm not sure how and I have re-read....Perhaps you misunderstood my point.. I was stating that whilst owning a loss making company may allow you tax breaks, no businessman is going to select a football club to use for this purpose.This is a high publicity and very labour intensive (without salary) business to own and somebody after a loss making company is far more likely to select one that would make no waves and require very little input.Without having the accounts in front of me, I am unable to check, but the shareholdings may also not be conducive to good tax planning... In a company like Bristol City Holdings, the shares are owned by multiple people meaning that you cannot just "do as you please" and increase/decrease shareholdings "willy-nilly". Link to comment Share on other sites More sharing options...
fRed Posted July 11, 2005 Report Share Posted July 11, 2005 Steve L's trying to recoup his money, can you blame him? Link to comment Share on other sites More sharing options...
poolered Posted July 12, 2005 Report Share Posted July 12, 2005 If I own two seperate buisness but are unrelated in what they do.If one loses three million in one year and the other buiness makes a profitof three million in one year Is any tax payable?Any accountants out there?←Yes it can be done but there has to be a holding company in place which there isnt in this instance so no Hargreaves Lansdown are not using Citys tax losses Link to comment Share on other sites More sharing options...
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