The #LUFC Breakfast Debate (Fri 21st June)

So is football different than other businesses ? because VAT can be offset by other businesses sales against bought.

 

Happy Saturday to all our readers - didn't we reclaim 20% of our £10m buy fee initially though WJ?

 

Fair enough fella, thought I recalled you defending Radz over the transfer window. My bad... can’t remember what I had for breakfast sometimes.

 

I've met Jonty a few times from the old606. Not the most positive, but he did bring me a strong bottle of scrumpy cider with him, so I can't say anything bad about him.

 

I have to bow to the weight of numbers re. the VAT thingy. I tried Googling it, but am now more confused than ever.

I did come across this article, though, which isn't really about VAT, but is nevertheless an interesting article. The thing that jumped out at me that I never even considered before is that clubs have to pay 13% NI on all player wages! Enjoy ...

https://www.gazettelive.co.uk/sport/football/transfer-news/how-much-10m-transfer-actually-10817930

 

You’re an easy man to win over

 

I am indeed

 

That's why I've never met an Irishman i haven't liked

 

Remember it well .... https://www.leeds-live.co.uk/sport/leeds-united/leeds-united-paul-robinson-swindon-16443277

Don't know why he didn't play outfield - Viduka had the same obstacle!

 

oh there are plenty of Irish eejits out there

Just booked my flights for the Derby game, hope they don't fecking change it to a Fri night or Sun

 

Doesn't that mean you'll just get on the piss for one or two nights more

 

If the game is changed to Fri I'm bollox because I'm meant to fly on the Sat..

 

Best Summer story so far is in the main Italian paper and it states that Leeds are trying to get Gianluigi Boffon who has just left PSG if its true I will bare my arse, but what a story and what if it were true and bet he would become the oldest player

 

Now in the Mail

https://www.dailymail.co.uk/sport/c...eeds-United-trying-sign-Gianluigi-Buffon.html

 

Probably not true but too old now anyway

 

No chance of him going walkabouts to the halfway line, he’d need a simmer frame

 

See we've allegedly told Villa it's 30m for Phillips or they can do one.

When was the last time we told somebody to stick their £15m for one of our players up their @ss?

Credit where it's due gentlemen....

 

As far as VAT goes it is irrelevant. You sell a player for 10m you add 20% vat on so you should get 12m from the buying club. You give 2m to hmrc, you keep 10m. The transfer fee is reported as 10m. The opposite if you're buying from a British club. You buy a player for 15m, add 3m VAT, so you pay the selling club 18m but get 3m back from hmrc. Net 15m out the door.

 

Thanks for that. Took a couple of reads, but it's getting clearer.

The thing is though, are you absolutely sure the net values, £10m & £15m in your examples, are absolutely the numbers reported? I know i'm guessing, but I think this will be horribly inconsistent, depending on who's reporting it.