Glasgow 2019 Onwards

[Taylorj]

Just now, MANSE said:

The only people on here spouting their  - - - - -   are the Workington Richards and you Yes they said about the losses and they have do something to rectify these losses which  has already started . Now on to the h HUGE sums of money we are throwing about I await details.[answer it was a rumour I heard ]

You seem to forget those little words called 'friends' 'pals' which I know some of us Worky fans are with Rasmus and have been for quite a few years, maybe old codgers like your good self don't partake in Facebook Messenger , Snapchat,  Instagram you know communications, the wonderful world of social media  ?? Thought not  . I won't go into details the conversations on here , I don't blame Rasmus , he's a young man making a living he was bound to grab that massive carrot , in fact been on his hols lately too so possibly only half of it left  so as for your rumours crap , quashed that one too ...Now onto to our youngest rider , again close friends , he went to school with my daughter , know the family really well, a massive carrot but decided to shun the millionaires and stay loyal to his home town and fans . You have your team and we have ours , it is what is and deep down even you know why your promotion get on everyone's t**ts .. But Merry Christmas and all that , enjoy watching Cookie a lap ahead with Sarjeant and the two 2 pointers like rabbits in headlights behind that , good luck marra you're gona need it  

[Gazc]

2 minutes ago, Taylorj said:

You seem to forget those little words called 'friends' 'pals' which I know some of us Worky fans are with Rasmus and have been for quite a few years, maybe old codgers like your good self don't partake in Facebook Messenger , Snapchat,  Instagram you know communications, the wonderful world of social media  ?? Thought not  . I won't go into details the conversations on here , I don't blame Rasmus , he's a young man making a living he was bound to grab that massive carrot , in fact been on his hols lately too so possibly only half of it left  so as for your rumours crap , quashed that one too ...Now onto to our youngest rider , again close friends , he went to school with my daughter , know the family really well, a massive carrot but decided to shun the millionaires and stay loyal to his home town and fans . You have your team and we have ours , it is what is and deep down even you know why your promotion get on everyone's t**ts .. But Merry Christmas and all that , enjoy watching Cookie a lap ahead with Sarjeant and the two 2 pointers like rabbits in headlights behind that , good luck marra you're gona need it  

You on here again dafty.

[SharpenRake]

7 minutes ago, Taylorj said:

You seem to forget those little words called 'friends' 'pals' which I know some of us Worky fans are with Rasmus and have been for quite a few years,

At last I can now understand why rasmus would want to leave Workington 

[MANSE]

27 minutes ago, Taylorj said:

You seem to forget those little words called 'friends' 'pals' which I know some of us Worky fans are with Rasmus and have been for quite a few years, maybe old codgers like your good self don't partake in Facebook Messenger , Snapchat,  Instagram you know communications, the wonderful world of social media  ?? Thought not  . I won't go into details the conversations on here , I don't blame Rasmus , he's a young man making a living he was bound to grab that massive carrot , in fact been on his hols lately too so possibly only half of it left  so as for your rumours crap , quashed that one too ...Now onto to our youngest rider , again close friends , he went to school with my daughter , know the family really well, a massive carrot but decided to shun the millionaires and stay loyal to his home town and fans . You have your team and we have ours , it is what is and deep down even you know why your promotion get on everyone's t**ts .. But Merry Christmas and all that , enjoy watching Cookie a lap ahead with Sarjeant and the two 2 pointers like rabbits in headlights behind that , good luck marra you're gona need it  

A massive carrot to Bickley we offered about 6 other 2 point riders MONEY 

[Paulco]

Time to put this nonsense to bed . Does it really matter what other fans think of our club or it's custodians . We're the ones turning up for home meetings and the occasional away ones , not them . 

If we're hated , so be it , i wont lose any sleep over it . 

[WorkyWorky]

The nastiness on this thread is really getting out of hand, not just from comets fans. It’s the same argument over and over again, and for probably one of the youngest one’s posting on it, even I’m finding it childish and boring now. The thought of any clubs going bust is not funny either.

Is anyone actually excited for April to come around?! 

[Gazc]

12 minutes ago, WorkyWorky said:

The nastiness on this thread is really getting out of hand, not just from comets fans. It’s the same argument over and over again, and for probably one of the youngest one’s posting on it, even I’m finding it childish and boring now. The thought of any clubs going bust is not funny either.

Is anyone actually excited for April to come around?! 

It has been out of hand on both teams threads for a while unfortunately.

[WorkyWorky]

12 minutes ago, Gazc said:

It has been out of hand on both teams threads for a while unfortunately.

It’s so ridiculous to the point we’re actually agreeing on something Gaz! 

[Gazc]

3 minutes ago, WorkyWorky said:

It’s so ridiculous to the point we’re actually agreeing on something Gaz! 

I am an agreeable person (sometimes).

[bigcatdiary]

1 hour ago, Paulco said:

Time to put this nonsense to bed . Does it really matter what other fans think of our club or it's custodians . We're the ones turning up for home meetings and the occasional away ones , not them . 

If we're hated , so be it , i wont lose any sleep over it . 

It’s clear this line of trying to buy success doesn’t generally work, certainly hasn’t recently, I also rather suspect the decisions which led to Dickson departing has played a fair part in the lack of success as well.

Certainly no fault can be laid at the door of the supporters for decisions made by the owners who clearly by recent announcements are getting fed up with nothing to show for it.

[TotallyHonestJohn]

3 hours ago, MANSE said:

The only people on here spouting their  - - - - -   are the Workington Richards and you Yes they said about the losses and they have do something to rectify these losses which  has already started . Now on to the h HUGE sums of money we are throwing about I await details.[answer it was a rumour I heard ]

Honestly

I do wonder if clowns like you actually have any idea of what goes on or if you just sail though life with your head up your posterior. All you need to do is go on the Companies House web site and you can see what is happening. Details available at (no rumour)

 https://beta.companieshouse.gov.uk/company/SC147093/filing-history

Look at the full accounts and the full accounts made up to 30th April 2017 posted on 01st Feb 2018 is a good place to start and look at page 20. There are others available and it is all there to see if you can be bothered to read through the previous years

With Glasgow it is all "Smoke and Mirrors" as the parent company Allied Vehicles (AV) have set up the Speedway on their accounts and put through a Debt Waiver and the latest namely  £617k for 2016 (wow!!!) and £424k for 2017. These losses will be mitigated against their (AV) corporation tax,  so as they have declared just over 5 million of profit for 2017 the corporation tax bill would have been around £800k and they just write off the £424k loss against this tax bill, which I assume at this current moment in time is all above board and legal. I must add this as I am not a tax expert by any stretch of the imagination on intra-business tax affairs.

Where they will be stating the place (Glasgow Speedway) is making a £100,000 loss for last year I assume this will be the short fall from the funds being generated from the speedway receipts and income which will only be realising around £324k per annum, however as the whole thing is being underwritten by the tax man there isn't really a problem is there. 700 fans @ £17.50 = £12.250 + food and drink say £15k per meeting for 20 meetings = £300k add in a bit of sponsorship and it will be about right. (aka £100k short)

The only problem being, and what our Scottish country cousins fail to realise is; they (Glasgow Tigers) would not survive (or have to radically reduce their financial aspirations) if they didn't have the costs underwritten by AV by providing this debt waiver. For reference a loan waiver is the waiving of the real or potential liability of the person or party who has taken out a loan through the voluntary action of the person or party who has made the loan

Using a debt waiver seems to me to be a bit ambiguous as  you usually provide a debt waiver as a fringe benefit to an employee if you do not require your employee to repay a debt. The example I am aware of is, if you sell goods to an employee and later tell them they are not required to pay the invoiced amount, you have provided a debt waiver fringe benefit. However benefits are usually taxed and I am surprised the tax man allows this for a company. However as stated it must be legal and above board and to be honest my  exposure to facilities like this have been on a much smaller scale

The thing is; if in the future the dreaded tax man looks at this in depth and pulls the privilege where a business applies a tax waiver to another stand alone business and this benefit gets reviewed and the tax law changes there will be a major threat hanging over Glasgow Speedway as they will be in the same boat as everyone else having to manage a budget. Who mentioned "Sugar Daddy" some time back? not far off the mark really.

So anyone who has a turnover of £130 million could offer this facility to any club and write off any losses against their corporation tax bill its easy to be a spendthrift when you are using someone else's money. (especially the tax mans) (Kudos)

So to answer the question and the HUGE sums of money you are throwing about as a club, facts are readily accessible and don't lie, when you are being underwritten by a financially successful business like AV you have access to funds that other clubs only dream about. As Halifax Tiger quoted earlier in the thread "Certainly in my case - and I suspect many others - its not a case of 'bitterness' at all. I suspect that some fans might be a little envious of the financial resources that Glasgow have but, as you rightly say, they would all want the same for their teams" I am of the same belief but your odious and obnoxious defence to comments being made on here when you obviously do not have a clue of what is going on seem to be providing you with a "Schadenfreude" which can not be good for your health; you need to take some of Paulco's advice "Time to put this nonsense to bed . Does it really matter what other fans think of our club or it's custodians . We're the ones turning up for home meetings and the occasional away ones , not them . If we're hated , so be it , I wont lose any sleep over it"

I certainly have never hated anyone (well maybe Maggie Thatcher but for a whole raft of other reasons) however you need to do your research and get your facts right before you start spouting off I would suggest.

Live Long and Prosper

Regards
THJ

Edited December 12, 2018 by TotallyHonestJohn
missed out key word

[jenga]

1 hour ago, WorkyWorky said:

The nastiness on this thread is really getting out of hand, not just from comets fans. It’s the same argument over and over again, and for probably one of the youngest one’s posting on it, even I’m finding it childish and boring now. The thought of any clubs going bust is not funny either.

Is anyone actually excited for April to come around?! 

aPRIL, aPRIL. according to some fans the season starts in March !

[nagy1]

19 minutes ago, TotallyHonestJohn said:

Honestly

I do wonder if clowns like you actually have any idea of what goes on or if you just sail though life with your head up your posterior. All you need to do is go on the Companies House web site and you can see what is happening. Details available at (no rumour)

 https://beta.companieshouse.gov.uk/company/SC147093/filing-history

Look at the full accounts and the full accounts made up to 30th April 2017 posted on 01st Feb 2018 is a good place to start and look at page 20. There are others available and it is all there to see if you can be bothered to read through the previous years

With Glasgow it is all "Smoke and Mirrors" as the parent company Allied Vehicles (AV) have set up the Speedway on their accounts and put through a Debt Waiver and the latest namely  £617k for 2016 (wow!!!) and £424k for 2017. These losses will be mitigated against their (AV) corporation tax,  so as they have declared just over 5 million of profit for 2017 the corporation tax bill would have been around £800k and they just write off the £424k loss against this tax bill, which I assume at this current moment in time is all above board and legal. I must add this as I am not a tax expert by any stretch of the imagination on intra-business tax affairs.

Where they will be stating the place (Glasgow Speedway) is making a £100,000 loss for last year I assume this will be the short fall from the funds being generated from the speedway receipts and income which will only be realising around £324k per annum, however as the whole thing is being underwritten by the tax man there isn't really a problem is there. 700 fans @ £17.50 = £12.250 + food and drink say £15k per meeting for 20 meetings = £300k add in a bit of sponsorship and it will be about right. (aka £100k short)

The only problem being, and what our Scottish country cousins fail to realise is; they (Glasgow Tigers) would not survive (or have to radically reduce their financial aspirations) if they didn't have the costs underwritten by AV by providing this debt waiver. For reference a loan waiver is the waiving of the real or potential liability of the person or party who has taken out a loan through the voluntary action of the person or party who has made the loan

Using a debt waiver seems to me to be a bit ambiguous as  you usually provide a debt waiver as a fringe benefit to an employee if you do not require your employee to repay a debt. The example I am aware of is, if you sell goods to an employee and later tell them they are not required to pay the invoiced amount, you have provided a debt waiver fringe benefit. However benefits are usually taxed and I am surprised the tax man allows this for a company. However as stated it must be legal and above board and to be honest my  exposure to facilities like this have been on a much smaller scale

The thing is; if in the future the dreaded tax man looks at this in depth and pulls the privilege where a business applies a tax waiver to another stand alone business and this benefit gets reviewed and the tax law changes there will be a major threat hanging over Glasgow Speedway as they will be in the same boat as everyone else having to manage a budget. Who mentioned "Sugar Daddy" some time back? not far off the mark really.

So anyone who has a turnover of £130 million could offer this facility to any club and write off any losses against their corporation tax bill its easy to be a spendthrift when you are using someone else's money. (especially the tax mans) (Kudos)

So to answer the question and the HUGE sums of money you are throwing about as a club, facts are readily accessible and don't lie, when you are being underwritten by a financially successful business like AV you have access to funds that other clubs only dream about. As Halifax Tiger quoted earlier in the thread "Certainly in my case - and I suspect many others - its not a case of 'bitterness' at all. I suspect that some fans might be a little envious of the financial resources that Glasgow have but, as you rightly say, they would all want the same for their teams" I am of the same belief but your odious and obnoxious defence to comments being made on here when you obviously do not have a clue of what is going on seem to be providing you with a "Schadenfreude" which can not be good for your health; you need to take some of Paulco's advice "Time to put this nonsense to bed . Does it really matter what other fans think of our club or it's custodians . We're the ones turning up for home meetings and the occasional away ones , not them . If we're hated , so be it , I wont lose any sleep over it"

I certainly have never hated anyone (well maybe Maggie Thatcher but for a whole raft of other reasons) however you need to do your research and get your facts right before you start spouting off I would suggest.

Live Long and Prosper

Regards
THJ

Some Mr Blobby levels of investigation there.

[TotallyHonestJohn]

16 minutes ago, nagy1 said:

Some Mr Blobby levels of investigation there.

Honestly

Its me job "all part of a hard days work"

Regards
THJ

[Mr Blobby]

1 hour ago, nagy1 said:

Some Mr Blobby levels of investigation there.

I’ve been outdone 

[arnieg]

1 hour ago, TotallyHonestJohn said:

Honestly

I do wonder if clowns like you actually have any idea of what goes on or if you just sail though life with your head up your posterior. All you need to do is go on the Companies House web site and you can see what is happening. Details available at (no rumour)

 https://beta.companieshouse.gov.uk/company/SC147093/filing-history

Look at the full accounts and the full accounts made up to 30th April 2017 posted on 01st Feb 2018 is a good place to start and look at page 20. There are others available and it is all there to see if you can be bothered to read through the previous years

With Glasgow it is all "Smoke and Mirrors" as the parent company Allied Vehicles (AV) have set up the Speedway on their accounts and put through a Debt Waiver and the latest namely  £617k for 2016 (wow!!!) and £424k for 2017. These losses will be mitigated against their (AV) corporation tax,  so as they have declared just over 5 million of profit for 2017 the corporation tax bill would have been around £800k and they just write off the £424k loss against this tax bill, which I assume at this current moment in time is all above board and legal. I must add this as I am not a tax expert by any stretch of the imagination on intra-business tax affairs.

Where they will be stating the place (Glasgow Speedway) is making a £100,000 loss for last year I assume this will be the short fall from the funds being generated from the speedway receipts and income which will only be realising around £324k per annum, however as the whole thing is being underwritten by the tax man there isn't really a problem is there. 700 fans @ £17.50 = £12.250 + food and drink say £15k per meeting for 20 meetings = £300k add in a bit of sponsorship and it will be about right. (aka £100k short)

The only problem being, and what our Scottish country cousins fail to realise is; they (Glasgow Tigers) would not survive (or have to radically reduce their financial aspirations) if they didn't have the costs underwritten by AV by providing this debt waiver. For reference a loan waiver is the waiving of the real or potential liability of the person or party who has taken out a loan through the voluntary action of the person or party who has made the loan

Using a debt waiver seems to me to be a bit ambiguous as  you usually provide a debt waiver as a fringe benefit to an employee if you do not require your employee to repay a debt. The example I am aware of is, if you sell goods to an employee and later tell them they are not required to pay the invoiced amount, you have provided a debt waiver fringe benefit. However benefits are usually taxed and I am surprised the tax man allows this for a company. However as stated it must be legal and above board and to be honest my  exposure to facilities like this have been on a much smaller scale

The thing is; if in the future the dreaded tax man looks at this in depth and pulls the privilege where a business applies a tax waiver to another stand alone business and this benefit gets reviewed and the tax law changes there will be a major threat hanging over Glasgow Speedway as they will be in the same boat as everyone else having to manage a budget. Who mentioned "Sugar Daddy" some time back? not far off the mark really.

So anyone who has a turnover of £130 million could offer this facility to any club and write off any losses against their corporation tax bill its easy to be a spendthrift when you are using someone else's money. (especially the tax mans) (Kudos)

So to answer the question and the HUGE sums of money you are throwing about as a club, facts are readily accessible and don't lie, when you are being underwritten by a financially successful business like AV you have access to funds that other clubs only dream about. As Halifax Tiger quoted earlier in the thread "Certainly in my case - and I suspect many others - its not a case of 'bitterness' at all. I suspect that some fans might be a little envious of the financial resources that Glasgow have but, as you rightly say, they would all want the same for their teams" I am of the same belief but your odious and obnoxious defence to comments being made on here when you obviously do not have a clue of what is going on seem to be providing you with a "Schadenfreude" which can not be good for your health; you need to take some of Paulco's advice "Time to put this nonsense to bed . Does it really matter what other fans think of our club or it's custodians . We're the ones turning up for home meetings and the occasional away ones , not them . If we're hated , so be it , I wont lose any sleep over it"

I certainly have never hated anyone (well maybe Maggie Thatcher but for a whole raft of other reasons) however you need to do your research and get your facts right before you start spouting off I would suggest.

Live Long and Prosper

Regards
THJ

I assume that a good chunk of the debt waivers have arisen from intra group loans to finance the renovations at Ashfield. Where available capital allowances will be transferred around the group and used to reduce the profits for tax purposes.

The on going revenue losses should be available for group relief with the caveat that HMRC could seek to disallow the offset of losses on the grounds that the speedway subsidiary is not 'trading with a view to a profit' [note that is not the same as trading profitably]. I have experienced a challenge on these grounds when acting for a speedway client however I expect Glasgow/Allied Vehicles are better placed to resist such a challenge.

[WorkyWorky]

1 hour ago, jenga said:

aPRIL, aPRIL. according to some fans the season starts in March !

March, April or May Jeng I really hope this same argument isn’t still going! 

[TheScotsman]

£40.5k for rider transfer fees as at 30/11/2017?

Crikey!!

[Dekker]

Running a team as a tax write-off isn't a new tactic ;) and a cursory look at companies house once you scan any programme will usually tell you what you need to know as THJ has demonstrated. They are not the only team subsidised in the same way either.

Edited December 12, 2018 by Dekker

[Gazc]

54 minutes ago, TheScotsman said:

£40.5k for rider transfer fees as at 30/11/2017?

Crikey!!

Think the bulk of that will be for Lawson & Summers.