Over the years he has been doing it he will have made a profit. Only you mentioned HUGE profit.You appear to begrudge him that. I too wish he would invest more into OUR club but who are we to tell an ex-brickie come successful business man how to invest HIS money?
Springies update
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How much is he really though ,these businessmen/accountants know all the tax loopholes especially when it could come under one umbrella with his other businesses as well . He is not living in the isle of man for nothing very shrewd is Mr Hemmings.
That old chestnut again. Do you really believe we’re being funded by HMRC and that TH is not really using his own money? There are no tax loopholes, his other companies pay PNE to use tax losses which would otherwise be worthless.
Perhaps you could tell us where you think that money is, if it’s not been re-invested?
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The accounts are available for all to view on the companies house website. There's at least a couple of posters on here (Epsilon, LostInYorkshire I think are two) who have contributed widely to discussions on here.
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We haven’t received £13M though. It’s in instalments, the likelihood is those 2 transfers will be funding our transfers and contracts for a couple more years to come. Just because we didn’t splash it all at once doesn’t mean it isn’t being invested.
northendmanc
Analytical annoyance
The losses are made less painful as a result of the tax being offset, but it’s still Trevor’s cash going in. To simplify let’s imagine Trevor pays £5m cash into PNE to keep it afloat and makes £20m profit from all his other companies. If he paid tax on the profits (corporation tax) at 20%, then paid himself the profits as a dividend (20% tax), then paid the money to PNE, that £20m turns into £16m after corporation tax, and £12.8m after capital gains. He then pays in the £5m to PNE and is left with £7.8m in his pocket.
Alternatively, he can just pay the money to PNE from the group of companies reducing the profits. That means £15m profits, £3m corp tax = £12m dividend, with £2.4m capital gains tax = £9.6m in his pocket.
Either way PNE is costing him a lot.
a little bit of perspective, given that TH is worth over £1bn (Sunday Times rich list) he supports PNE to the tune of half of one percent of his worth.
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Wheras someone who is on minimum wage and buys a season ticket at 400 quid is investing 2.25% of their income into the club.
Don't know why you'd compare a fanatical North End fan's contribution to that of a horse racing fan who ended up saddled with a football club that was in trouble having been mismanaged. Of course the fan's going to put it a higher percentage of their money. I also think he'd take a sensible offer for the club but the discussion means nothing whilst there aren't any offers.
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It has to be remembered that TH has been involved with the club, as a supporter, probably longer than most fans on here.
as frustrating as TH has been over the decades in 'funding promotion' he has certainly funded survival.....
I guess I'd rather have 1% of his wealth donated than 50% of naff all from other 'would be football club owners' who pass the 'fit and proper' test....
Statistically we have more chance of getting to the Prem with Oyston as owner.........but I'd rather stick with TH thanks.
I guess I'd rather have 1% of his wealth donated than 50% of naff all from other 'would be football club owners' who pass the 'fit and proper' test....
Statistically we have more chance of getting to the Prem with Oyston as owner.........but I'd rather stick with TH thanks.
You’re confusing net worth with income. Someone on minimum wage may have a house worth £100k so is putting in 0.4 of 1%, I.e. less than TH
Your principal is correct but your figures are a bit off. Corporation tax is 19% and higher rate dividend tax is 38.1%. There’s no capital gains on dividends. PNE’s losses are group relieved to his other companies but they pay for them so the club is actually better off. If he loans monies from his other companies I’m not sure they’d get any tax relief on a write off as the companies are connected.
The owner splits his monthly income on the football, his horses & his lifestyle. Roughly.
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So, by this reckoning, sheik mansour has a family fortune of over 1 trillion dollars.
But he has only put 1.3bn pounds in to Man City ( source: google ).
That’s only 0.2% of the family worth. Total cheapskate ,the city fans should be demanding he leave now and find someone prepared to back them properly.
But he has only put 1.3bn pounds in to Man City ( source: google ).
That’s only 0.2% of the family worth. Total cheapskate ,the city fans should be demanding he leave now and find someone prepared to back them properly.