Surely though you could only only claim the tax back so it will still be coming out of the company coffers... Only that there is a 20% off the final costs ??
You're taxed on profit, not on revenue. Let's say you have £10,000 of profit. You'd pay tax of 20% on that which is £2,000. Now let's say you buy football tickets, travel, food and hotel @ £150. You are now only taxed on £9,850 and you pay £1970. You also claim back the VAT @ 20% so it's cost HMRC £60. Alternatively, if it comes out of your pocket, it's coming off your net and not your gross earnings, so your pocket takes a hit for the full £150.
Seems a stupid comment surely any of the board could have stopped ant of the transfers and they have the final say on all transactions that took place
I think it's fair to say that Threlfall's comments make him look far more incompetent than Mick Bit of an 'egg on his face' moment really and I'm sure Mick is able to shrug it off and laugh about it as Wolves have certainly been able to shoot themselves in the foot successfully since they decided to sack him
Funny how some on here are saying that its not MM's fault even though most of the Wolves players that got relegated were his signings, yet after about 1 year in charge still said Jewell needed time as he inherited Keanes dross and it wasn't his fault, double standards ladies!!!! MM has done well to keep us up and for that i am grateful but how far can he take us with his Skuse type signings? Still cant stand the guy.
PJ's signings clearly weren't that bad as with the same team MM managed to build a decent, hard to beat squad. Signings are only half the battle (maybe even less), what makes and breaks a manager is getting the most out of your team and that is the difference between Mick and Jewell. also... welcome back Spanish
Very true Wright, I actually believe Jewell is a better 'talent spotter' than Mick, that was one of his strengths. Whilst Micks signings are rarely poor I would say throughout his career he has signed alot of average/limited players but gone on to get the best out of them, I just wish he would try to sign more talented players and get the best out of them instead, this for me is what has held Mick back from being a good PL manager. Micks strengths are his man management and building a team with good team spirit. Jewell built a collection of players, I think he would have been okay had he had a team here prior to him coming. Team spirit is a massive thing and it seems it is something Mick is great at, what does worry me (although not a great deal atm as it is hopefully a long way off) is what happens when Mick leaves us with a team of honest hard working pros and another manager comes in and isn't able to get the same levels out of those players, do we do a Wolves?
Nope, It still comes off the bottom line. Running a business is about maintaining an adequate profit margin whilst keeping costs down, especially non essential costs like the type were talking about. I use a profit/loss calculator at work and costs in my company are managed carefully so we keep the margins up.
See above calculation Kemp. I'm not an accountant and i would never put through expenses like that personally, but accountants will save you a lot of money by minimising tax that way, it's got nothing to do with managing costs.
How far remains to be seen Spanish, but you must be feeling more optimistic about next season than we've felt since Roy Keane's first summer?
Its illegal to claim expenses that are not directly related to business. I just keep everything separate, its easier that way and I know if I am ever audited by HMRC I will be ok.
That's how I do things too, although hospitality, networking, team building and perks are legitimate business expenses. What's your business kemp?
