Proud - depends what the product is - if its a footballer from an Italian club then its 0% Do you still think Watford are cheating HMRC?
TC you really arent as thick as ****, you put " if its a footballer from an Italian club then its 0%" If Watford want to buy a player but are getting Udiense to sign them and to forward them onto Watford to get around FFP they are POSSIBLY as I said avoiding tax by hiding their cost in another company abroad which COULD be deemed as tax dodging You getting very boring now with your Leicester vendetta all because a bigger club came in for your star striker.
Last time ok These players are all Johnny Foreigners so even if Watford did buy them, they would still pay 0% tax to HMRC - It really is that simple
If they are hiding costs, they will be overstating their profit which means they will be paying MORE tax - capiche? Even a thicko must understand now eh?
If you think they are running at a profit you must be an idiot. A small 3 sided ground in a part of the county close to the capital so their fanbase isnt going to be big, nor will they get big amounts through sponsorship. TC get over yourself kid
It wasn't me that claimed they were hiding their costs in a foreign club. £20m income - 0 costs = £20M profit NB - I do not belieVe they are hiding costs like you claim they are, so the above scenario only applies to your deluded theory!! Just admit you were wrong and move on
Really Proud _Fox, I just wished that you talked about something that you could back up with facts rather than just your thoughts and opinions. What are the criteria for rebuilding the East side of the ground? What profit or loss did WFC declare for last season? What was the turnover for the club last season? Who paid the wages of the on-loan players last season? Get those 100% right and I might believe you have done some proper research.
Its clear for all to see their hiding their costs, they did it last season with all the loans, do you really think "Watford" was paying their wages? TC drop the Leicester vendetta and you know im right
I think that you are just going down the road of proving my point Proud_Fox, opinions not facts. It is simple to find these things out, just do a bit of searching before writing.
Are you really that blind? Your owners are covering the majority of yours cost through Udiense's books, if you want to believe otherwise then be my guest. You have got a so called transfer embargo on you for a reason because in the past you have been found guilty of breaking transfer rules and regulations While this time you have broken any rules, you have just abused the system... Again You lot would soon complain if Barcelona did the same with us. Luckily for us, Udiense are pretty ****
Right there you go again. Just find some info, then comment once more. I asked you four simple questions that you could have researched and you didn't. I think that everyone can see that you have an opinion that you think sounds good, but if fact you are just so very wrong. Answer the questions then we might take you seriously.
Strangely enough TC, I actually do know a bit about this area - look up the concept of 'transfer pricing' - start with the OECD model guidelines - that's where the interesting bit starts - should the Italian tax authorities start to wonder whether Udinese are offlloading at an 'under value' they could, in theory at least, seek to impute 'market value' for the transactions involved, which would invariably then completely fook Watford under the FFP rules as HMRC would be somewhat obliged to recognise that same value from a UK perspective ... god I'm a clever **** sometimes - especially after a bevy
Yes Fosse - but Proud said that they are cheating HMRC - If HMRC were to recognise that same value from a UK perspective, Watford would have to show similar in their accounts by increasing their costs - this would decrease their bottom line figure and reduce their tax bill
