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Promoters Conference

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6 hours ago, mikebv said:

They picked the hotel because they had heard it has plenty of "guests"....

I'll get me coat...

Would two promoters sharing a room be classed as 'doubling-up'...... :rolleyes:

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12 minutes ago, tyretrax said:

GS550. Who said that they don't pay for it from their own pocket?

It'd be naive to think this wouldn't be going through the accounts as a tax deductible business expense :)

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Sheffield booked the tiny No1 room with no sea view for £200 per night but at the last minute we're allowed to switch to the Robert Lambert penthouse suite (amazing reassessed at just £175 per night) 

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5 hours ago, dontforgetthefueltapsbruv said:

Sheffield booked the tiny No1 room with no sea view for £200 per night but at the last minute we're allowed to switch to the Robert Lambert penthouse suite (amazing reassessed at just £175 per night) 

Only available from august to October but the fridge is full of whine !

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7 hours ago, iainb said:

It'd be naive to think this wouldn't be going through the accounts as a tax deductible business expense :)

Show me the proof then.

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51 minutes ago, tyretrax said:

Show me the proof then.

Show me proof otherwise :)

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8 hours ago, tyretrax said:

GS550. Who said that they don't pay for it from their own pocket?

Doesn't matter, it's in the name of speedway under the auspices of the BSPL.  The money spent could and should be used to reduce admission prices or improve facilities.  The old BSPA were lambasted years ago for the practice of annual jollies abroad and they stopped that nonsense.  And some promoters were against it this time around so not sure whose idea it was.  It's an affront, goes against every principle.  Absolutely disgusting.

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On 11/8/2023 at 7:25 PM, Catalan said:

Normally they make promoters stay in hotel jf held in the UK. 

As you say cheaper this way and pretty much guaranteed some sun.

No need to stay in any hotel, practically everything has already been discussed and agreed for 2024, very little left to discuss at all, some promoters voiced that a short 1 hour meeting in Rugby was all needed at most.  And contrary to the narrative no it aint cheap to fly out to the Canaries and the accommodation and the food and drink is expensive, been enough times to know that's the way it really is.  Just no need for it  If they want to have a holiday then fine but not in the name of speedway and under the auspices of the BSPL.

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9 hours ago, iainb said:

It'd be naive to think this wouldn't be going through the accounts as a tax deductible business expense :)

A 'tax deductible business expense' is still an expense. 

It reduces your tax liability on your profit, but tax deductible doesn't mean free, it just means it ultimately costs less than it otherwise would.

And of course it's an expense, which will come out of the non existent profits made by the clubs.

Equally, speedway promoters are losing a crap load of money. I am not going to begrudge them an overseas jolly/business trip. Without them there is no sport as we have it just now.

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2 minutes ago, truthsayer said:

A 'tax deductible business expense' is still an expense. 

It reduces your tax liability on your profit, but tax deductible doesn't mean free, it just means it ultimately costs less than it otherwise would.

And of course it's an expense, which will come out of the non existent profits made by the clubs.

Equally, speedway promoters are losing a crap load of money. I am not going to begrudge them an overseas jolly/business trip. Without them there is no sport as we have it just now.

I know all that... I think it's a good thing they've gone to a place where they just can't take their ball home. It's not good optics but needs must

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14 minutes ago, truthsayer said:

Equally, speedway promoters are losing a crap load of money. I am not going to begrudge them an overseas jolly/business trip. Without them there is no sport as we have it just now.

Mmm ... so some claim , yest still they come back for more every season.

Do they really think 2024 is going to be any better than 2023  ?

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1 minute ago, old bob at herne bay said:

Mmm ... so some claim , yest still they come back for more every season.

Do they really think 2024 is going to be any better than 2023  ?

Yes (they come back), because they are fans and running a speedway team is their hobby. It's not a serious business proposition any more.

In their heart of hearts they must know there's no way back, but they are fans first and foremost and can't bear to put it out of its misery.

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16 minutes ago, old bob at herne bay said:

Mmm ... so some claim , yest still they come back for more every season.

Do they really think 2024 is going to be any better than 2023  ?

I made a couple of years loss in my business during covid and was quite surprised to receive quite a substantial tax rebate for those 2 years based on my previous years profits. We all know that if you've got multiple businesses and a decent accountant there are systems to be played

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12 hours ago, iainb said:

I made a couple of years loss in my business during covid and was quite surprised to receive quite a substantial tax rebate for those 2 years based on my previous years profits. We all know that if you've got multiple businesses and a decent accountant there are systems to be played

Its called "offsetting" and been available for many, many years.  You get tax relief by offsetting the loss against your other gains or profits of your business in the same accounting period. You can also choose to carry the loss back, if you do not it will be carried forward to another accounting period. The purpose being to help business owners through poor times or to "offset" losses made by one to reduce the tax burden and keep the none-profitable company potentially. Any tax accountant will be fully versed in this subject. 
Promoters often have business interests beyond speedway, The offsetting practice enables them to reduce the cost (loss) of running the club not withstanding that some promotions actually do make profit and pay tax accordingly. 
 

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