Life in the slow lane
Posted by: TykesRugby.co.uk (IP Logged)
Date: 15 July, 2017 16:05

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Edited 1 time(s). Last edit at 28/07/2017 16:52 by Wildwillie .

Re: Life in the slow lane
Posted by: Mark_C (IP Logged)
Date: 15 July, 2017 21:38

Good call - the academy has proved to be amongst the best in the land and the club should be rightly proud of it's products and the nurturing they gave to them.

As for one million pounds a year for ten years, that is small beer compared to the five million pounds trousered by somebody after one transaction.

Re: Life in the slow lane
Posted by: Bobba (IP Logged)
Date: 16 July, 2017 12:26

Talking of money, I was just wondering if the Company that is going to rebuild the stadium will be doing so on a non-profit basis? ......Hmmm, then again, when I think about it, I must, at some time, been told a porky. Pigs don't fly do they?... Then again....

Re: Life in the slow lane
Posted by: Albert Fishwick (IP Logged)
Date: 16 July, 2017 13:05

It would be odd for any building firm wishing to stay in business not to seek to make a profit on each job.



If I had all the money I've spent on drink ..... I'd spend it on drink.

Re: Life in the slow lane
Posted by: almostatyke (IP Logged)
Date: 16 July, 2017 16:51

As I understand it, the Rhinos and the rugby bit of Carnegie (sorry Emerald) Headingley is a fully-owned part of Caddick Construction, thus the profit (or loss) in the construction contract is largely a matter of a robbing Peter to pay Paul affair. However, no doubt Yorkshire cricket will be keeping a close eye to ensure there is no cross-fertilisation of costs in their direction.

Re: Life in the slow lane
Posted by: headingleytyke (IP Logged)
Date: 16 July, 2017 19:28

I am sad to say, what with the money politics, inter club rival the fun has gone out of the game. Am back in the country four times over the winter. Will go and watch Coventry. Still support Leeds Tykes from afar

Re: Life in the slow lane
Posted by: Albert Fishwick (IP Logged)
Date: 16 July, 2017 21:35

Quote:
almostatyke
As I understand it, the Rhinos and the rugby bit of Carnegie (sorry Emerald) Headingley is a fully-owned part of Caddick Construction, thus the profit (or loss) in the construction contract is largely a matter of a robbing Peter to pay Paul affair. However, no doubt Yorkshire cricket will be keeping a close eye to ensure there is no cross-fertilisation of costs in their direction.

I fear your understanding is a bit awry. Caddick Construction is a subsidiary of the Caddick holding company, as is Leeds Rugby Limited, which owns Leeds CF&AC Ltd (aka Leeds Rhinos). Whilst PC started out in construction, his main interest for many years has been in property development and it is this which has generated the bulk of his wealth. Caddick Construction has its own board who are responsible for its performance.

HMRC look very closely at the allocation of profits between companies under common ownership and mates rates for such contracts would be unlikely to pass muster.



If I had all the money I've spent on drink ..... I'd spend it on drink.

Re: Life in the slow lane
Posted by: almostatyke (IP Logged)
Date: 20 July, 2017 19:45

Here's a good one for a Cambridge-educated accountant like you to suss out, Albert:

[www.constructionenquirer.com]

And after that, you can advise IR that Starbucks actually make more than the 2p profit in the UK that they have declared.

Only joking. But seriously, the Quantity Surveyors of a Contractor are specially trained in the Smoke and Mirrors department, and I do not think the IR frightens them!

Re: Life in the slow lane
Posted by: Albert Fishwick (IP Logged)
Date: 21 July, 2017 10:28

Relieving taxable profits with losses incurred in other companies under common ownership has long been allowed. Not making much taxable profit by manipulating earnings across different entities and/or territories is closely targetted by tax authorities here and overseas, but that doesn't stop it happening.

Anyway, I'm off to watch some paint dry.



If I had all the money I've spent on drink ..... I'd spend it on drink.

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