coventry1963 99 Posted December 3, 2017 If only! When you set a loss against a profit from elsewhere, you only reduce the overall profit figure which is then taxable. You still have to pay the main part of the loss, the loss is simply effectively reduced by the tax rate applicable E.g. Profit £100,000 @ 19 per cent = £19,000 tax. Profit £100,000, loss £20,000 = net profit of £80,000 @ 19 per cent = £15,200 tax. So, loss of £20,000 reduced by £3,800 to £16,200, not wiped out! 4 Share this post Link to post Share on other sites
martinmauger 584 Posted December 3, 2017 (edited) I can easily believe that ^^, a while since I've done any acountancy work. Yet another (unamed) promoter told me he could 'accept' his speedway club losing 'up to £30,000 p.a.' as profits from his other business interests more than made up for it, any more and 'purse strings would need to be tightened'. And "the stadium owner is actually a speedway fan, and supports what we are doing though other activities take priority, and as long as we pay the rent on time and don't make too much of a mess, he's more than happy for us to continue, he's businsess man too and appreciates his stadium would otherwise be empty on speedway nights''. I would describe myself as an extremely inquisitive (nosey?) type and once I get into a subject I like to know anything & everything about it as much as is possible, good bad or indifferent. Yes, I've discovered the odd titbit I wish I'd never known and met the odd 'hero with feet of clay' (and not only in speedway) but I find most speedway folk are happy to talk when approached at the right time and in the right manner and you don't ask too many questions. In my 'past life' as a student for my own interest I built a huge spreadsheet based on information I was told directly from the horses mouth, as it were, and employing educated guesses as I was interested to discover how, or even if, speedway clubs made a profit. After playing around with my spreadsheet (which I still have saved - somewhere), changing monetary values up and down, and while it helps greatly owning ones own stadium / track, I concluded that very few, if any, speedway clubs do make much of a profit.... Edited December 3, 2017 by Martin Mauger 1 Share this post Link to post Share on other sites
waytogo28 2,054 Posted December 3, 2017 (edited) I can easily believe that ^^, a while since I've done any acountancy work. Yet another (unamed) promoter told me he could 'accept' his speedway club losing 'up to £30,000 p.a.' as profits from his other business interests more than made up for it, any more and 'purse strings would need to be tightened'. And "the stadium owner is actually a speedway fan, and supports what we are doing though other activities take priority, and as long as we pay the rent on time and don't make too much of a mess, he's more than happy for us to continue, he's businsess man too and appreciates his stadium would otherwise be empty on speedway nights''. I would describe myself as an extremely inquisitive (nosey?) type and once I get into a subject I like to know anything & everything about it as much as is possible, good bad or indifferent. Yes, I've discovered the odd titbit I wish I'd never known and met the odd 'hero with feet of clay' (and not only in speedway) but I find most speedway folk are happy to talk when approached at the right time and in the right manner and you don't ask too many questions. In my 'past life' as a student for my own interest I built a huge spreadsheet based on information I was told directly from the horses mouth, as it were, and employing educated guesses as I was interested to discover how, or even if, speedway clubs made a profit. After playing around with my spreadsheet (which I still have saved - somewhere), changing monetary values up and down, and while it helps greatly owning ones own stadium / track, I concluded that very few, if any, speedway clubs do make much of a profit.... If this is so. why are most promoters so poor at building up their crowds? A 50% increase of fans sounds as if most clubs would then be in the black and doubling the number means these men and women prepared to make a limited loss, wold be quids in!!! And going up from around an average gate of 1,000 to 1,500 - or even 2,000 cannot be beyond the realms of possibly . Especially considering that the track I had in mind was doing around 3,500 a decade or so ago. Hmmm. Well presented, close, exciting VFM racing springs to mind. Have these promoters settled for an easy life of losing a few grand season by season? Edited December 3, 2017 by waytogo28 Share this post Link to post Share on other sites
martinmauger 584 Posted December 4, 2017 Seems because as I said elsewhere: not many promoters seem to promote, only when match is on TV. They run their tracks well for sure, else more would close down, but not necessarily much actual promotion.... Share this post Link to post Share on other sites
Odds On 373 Posted December 7, 2017 its not rocket science teams making a loss, when a teams number one in the elite league earns roughly the same as twenty paying adults per race. then add to that the other six riders, then its obvious debts are going to mount up. Perhaps Rosco wasn't keeping Doyle safe and sound by not using him in meaningless heat 15s? The simple solution is.... promoters only pay riders out after all the other expenses are paid on a race night, sadly speedway is now a glorified hobby nowadays with a few promoters willing to risk their own money.... 1 Share this post Link to post Share on other sites
Ghosty 500 Posted December 9, 2017 Any business that's main income comes in the form of cash WILL be tempted to make no or very little profit.....nudge, nudge, wink, wink.............? 1 Share this post Link to post Share on other sites
moxey63 1,785 Posted December 9, 2017 I'm pleased to report that Peterborough made a very healthy profit. Started charging that dog? Share this post Link to post Share on other sites
