Promoters Conference

[tyretrax]

7 hours ago, iainb said:

It'd be naive to think this wouldn't be going through the accounts as a tax deductible business expense 

Show me the proof then.

[IainB]

51 minutes ago, tyretrax said:

Show me the proof then.

Show me proof otherwise 

[GS550]

8 hours ago, tyretrax said:

GS550. Who said that they don't pay for it from their own pocket?

Doesn't matter, it's in the name of speedway under the auspices of the BSPL.  The money spent could and should be used to reduce admission prices or improve facilities.  The old BSPA were lambasted years ago for the practice of annual jollies abroad and they stopped that nonsense.  And some promoters were against it this time around so not sure whose idea it was.  It's an affront, goes against every principle.  Absolutely disgusting.

[GS550]

On 11/8/2023 at 7:25 PM, Catalan said:

Normally they make promoters stay in hotel jf held in the UK. 

As you say cheaper this way and pretty much guaranteed some sun.

No need to stay in any hotel, practically everything has already been discussed and agreed for 2024, very little left to discuss at all, some promoters voiced that a short 1 hour meeting in Rugby was all needed at most.  And contrary to the narrative no it aint cheap to fly out to the Canaries and the accommodation and the food and drink is expensive, been enough times to know that's the way it really is.  Just no need for it  If they want to have a holiday then fine but not in the name of speedway and under the auspices of the BSPL.

[truthsayer]

9 hours ago, iainb said:

It'd be naive to think this wouldn't be going through the accounts as a tax deductible business expense 

A 'tax deductible business expense' is still an expense. 

It reduces your tax liability on your profit, but tax deductible doesn't mean free, it just means it ultimately costs less than it otherwise would.

And of course it's an expense, which will come out of the non existent profits made by the clubs.

Equally, speedway promoters are losing a crap load of money. I am not going to begrudge them an overseas jolly/business trip. Without them there is no sport as we have it just now.

[IainB]

2 minutes ago, truthsayer said:

A 'tax deductible business expense' is still an expense. 

It reduces your tax liability on your profit, but tax deductible doesn't mean free, it just means it ultimately costs less than it otherwise would.

And of course it's an expense, which will come out of the non existent profits made by the clubs.

Equally, speedway promoters are losing a crap load of money. I am not going to begrudge them an overseas jolly/business trip. Without them there is no sport as we have it just now.

I know all that... I think it's a good thing they've gone to a place where they just can't take their ball home. It's not good optics but needs must

[old bob at herne bay]

14 minutes ago, truthsayer said:

Equally, speedway promoters are losing a crap load of money. I am not going to begrudge them an overseas jolly/business trip. Without them there is no sport as we have it just now.

Mmm ... so some claim , yest still they come back for more every season.

Do they really think 2024 is going to be any better than 2023  ?

[truthsayer]

1 minute ago, old bob at herne bay said:

Mmm ... so some claim , yest still they come back for more every season.

Do they really think 2024 is going to be any better than 2023  ?

Yes (they come back), because they are fans and running a speedway team is their hobby. It's not a serious business proposition any more.

In their heart of hearts they must know there's no way back, but they are fans first and foremost and can't bear to put it out of its misery.

[IainB]

16 minutes ago, old bob at herne bay said:

Mmm ... so some claim , yest still they come back for more every season.

Do they really think 2024 is going to be any better than 2023  ?

I made a couple of years loss in my business during covid and was quite surprised to receive quite a substantial tax rebate for those 2 years based on my previous years profits. We all know that if you've got multiple businesses and a decent accountant there are systems to be played

[1 valve]

12 hours ago, iainb said:

I made a couple of years loss in my business during covid and was quite surprised to receive quite a substantial tax rebate for those 2 years based on my previous years profits. We all know that if you've got multiple businesses and a decent accountant there are systems to be played

Its called "offsetting" and been available for many, many years.  You get tax relief by offsetting the loss against your other gains or profits of your business in the same accounting period. You can also choose to carry the loss back, if you do not it will be carried forward to another accounting period. The purpose being to help business owners through poor times or to "offset" losses made by one to reduce the tax burden and keep the none-profitable company potentially. Any tax accountant will be fully versed in this subject. 
Promoters often have business interests beyond speedway, The offsetting practice enables them to reduce the cost (loss) of running the club not withstanding that some promotions actually do make profit and pay tax accordingly. 
 

Edited November 10, 2023 by 1 valve

[Petecc]

1 hour ago, 1 valve said:

Its called "offsetting" and been available for many, many years.  You get tax relief by offsetting the loss against your other gains or profits of your business in the same accounting period. You can also choose to carry the loss back, if you do not it will be carried forward to another accounting period. The purpose being to help business owners through poor times or to "offset" losses made by one to reduce the tax burden and keep the none-profitable company potentially. Any tax accountant will be fully versed in this subject. 
Promoters often have business interests beyond speedway, The offsetting practice enables them to reduce the cost (loss) of running the club not withstanding that some promotions actually do make profit and pay tax accordingly. 
 

Can someone bring me back 200 fags?

[Wardey]

On 11/8/2023 at 11:47 PM, GS550 said:

Doubt it.  That's how they want to skew it.  Any time I've been to the Canaries it aint cheap.  In principle it stinks to high heaven.  Absolute disgrace.  Tracks folding all over the place, the sport is strapped for cash, there's a cost of living crisis, they could have a meeting in Rugby and no need for any accommodation or extravagant expense or have a zoom meeting.  As I understand it most of the decisions have already been made for 2024, this is just a jolly.  They should be putting the money into facilities or reducing admission prices, not going on grandiose trips abroad.  If they want to have a holiday then pay for it privately, not under the auspices of speedway.

Wow. This is why I dont come on here often.  Anyone with a sensible response to the actual question here? ( Thank you HGould for the only reasonable answer here) I'll be in Tenerife the 3rd week of November, so will look out my Save Our Speedway banner and pack it with my Speedo's and Ivan Mauger book. As for this quote....what part of the Canaries have you been wining and dining in to conclude that it aint cheap? Defo not the parts I frequent. 

[Neila]

A good few years ago was lying  on my sunbed at a hotel in tenerife, Reading the speedway star, when this bloke came up and said am I in this edition, started talking to the bloke and it was Alan ham ex Bradford promoter, shared a few tails over a beer or 2 . He could not believe that me and a couple of friends travelled from Workington to Bradford every Saturday 

[GS550]

On 11/10/2023 at 1:55 PM, Wardey said:

Wow. This is why I dont come on here often.  Anyone with a sensible response to the actual question here? ( Thank you HGould for the only reasonable answer here) I'll be in Tenerife the 3rd week of November, so will look out my Save Our Speedway banner and pack it with my Speedo's and Ivan Mauger book. As for this quote....what part of the Canaries have you been wining and dining in to conclude that it aint cheap? Defo not the parts I frequent. 

So what's Tenerife got to do with speedway?  A couple of new tracks opening in Tenerife?

You will know of course that it is more expensive in the Canaries in November than in the summer?

At reportedly a thousand quid per head for 3 days it aint cheap, equates to a couple of grand per head per week, cheap as gold plated caviar.

If you want to save speedway as you say, put the money into improved facilities or reducing admissions prices.

Edited November 13, 2023 by GS550

[Neila]

Was told its costing 1k each to go to the conference to have a show of hands to pass what already has been agreed. This money could have been spent on a lot more things,  like facilities for the fans in the stadiums, money towards some form of media promotion etc etc

[ch958]

regardless of how cheap or otherwise, they're just not reading the room. 

[Neila]

55 minutes ago, ch958 said:

regardless of how cheap or otherwise, they're just not reading the room. 

A lot of the northern promoters are not happy about the money spent to go for a show of hands  But the mafia win again !!!

Edited November 11, 2023 by Neila

[Gambo]

So blinkered, some posters!

Are promoters not allowed to have a working holiday, or even a holiday then?

If they have made a 'profit' from their Speedway business, how do they plow even a penny back into facilities at a stadium where the majority are merely tenants?

If the costs are, as someone suggested around £1000, to attend, what difference would that mean, adding £1000 to a track's overall budget for the year?  That £1000 (and more) can be wiped out in quick time by a rain off.

[Neila]

The 1k is for one promoter some teams have joint promotion so both go (2 x 1k)  to make sure correct decisions are made correctly. 

A run to rugby £125 in petrol for Scottish promotions, 2 nights in Premier Inn £175 job done at less than a  third of price to going to tenerife!!

Edited November 11, 2023 by Neila

[Gambo]

9 minutes ago, Neila said:

The 1k is for one promoter some teams have joint promotion so both go (2 x 1k)  to make sure correct decisions are made correctly. 

A run to rugby £125 in petrol for Scottish promotions, 2 nights in Premier Inn £175 job done at less than a  third of price to going to tenerife!!

And why shouldn't they go to Tenerife?