United thread 2012/13 (inc merged IPO thread)

[JM Mcr]

I'll ask again as I'm still curious as to what it means, if any of you financial guru's can tell me.

Well I am an armchair rag but doesn't look like anyone else is answering Cleavers, so I'll have a go and give you my take on it.

In their accounts Utd talk about the tax credit "primarily arising due to recognition of a previously unrecognised tax loss as a deferred tax asset.." Although I know next to nothing about Corporation Tax I know a little about Individual Tax Returns and from that it seems to me that Utd (or their accountants) have managed to get some or other expense in the previous tax year(s) classed as a taxable expense, rather than a non taxable expense. That would then allow them to have the earlier year(s) returns amended, reducing the tax payable for those years and giving rise to a tax credit. Presumably Utd would then have either received a tax rebate or carried the tax credit (or tax relief) into their 11/12 tax return to use against their income then.

I'm no accountant so may be way off with this (apologies if so) but, like I said, I am familiar with the Individual Tax Return process and that's how it works there..

Well I am an armchair rag

Tho you gave enough of a shit to post that wonderfully witty reply :-)

 

[mcmanus]

Well I am an armchair rag but doesn't look like anyone else is answering Cleavers, so I'll have a go and give you my take on it.

In their accounts Utd talk about the tax credit "primarily arising due to recognition of a previously unrecognised tax loss as a deferred tax asset.." Although I know next to nothing about Corporation Tax I know a little about Individual Tax Returns and from that it seems to me that Utd (or their accountants) have managed to get some or other expense in the previous tax year(s) classed as a taxable expense, rather than a non taxable expense. That would then allow them to have the earlier year(s) returns amended, reducing the tax payable for those years and giving rise to a tax credit. Presumably Utd would then have either received a tax rebate or carried the tax credit (or tax relief) into their 11/12 tax return to use against their income then.

I'm no accountant so may be way off with this (apologies if so) but, like I said, I am familiar with the Individual Tax Return process and that's how it works there..

Well I am an armchair rag

Tho you gave enough of a shit to post that wonderfully witty reply :-)

Are you all right precious kunts?

 

[MSP]

JM Mcr is ok guy.. strange club selection, yes, but he looks as nice lad

 

[laserblue]

JM Mcr is ok guy.. strange club selection, yes, but he looks as nice lad

Grooming alert.

 

[andyhinch]

Well I am an armchair rag but doesn't look like anyone else is answering Cleavers, so I'll have a go and give you my take on it.

In their accounts Utd talk about the tax credit "primarily arising due to recognition of a previously unrecognised tax loss as a deferred tax asset.." Although I know next to nothing about Corporation Tax I know a little about Individual Tax Returns and from that it seems to me that Utd (or their accountants) have managed to get some or other expense in the previous tax year(s) classed as a taxable expense, rather than a non taxable expense. That would then allow them to have the earlier year(s) returns amended, reducing the tax payable for those years and giving rise to a tax credit. Presumably Utd would then have either received a tax rebate or carried the tax credit (or tax relief) into their 11/12 tax return to use against their income then.

I'm no accountant so may be way off with this (apologies if so) but, like I said, I am familiar with the Individual Tax Return process and that's how it works there..

Well I am an armchair rag

Tho you gave enough of a shit to post that wonderfully witty reply :-)

Sorry a bit pissed unrecognised tax losses? Trust me there all recognised unless my accounts are better than those of the best arseholes sorry global franchise in world.com

 

[Stoned Rose]

JM Mcr is ok guy.. strange club selection, yes, but he looks as nice lad

 

[JM Mcr]

Well I am an armchair rag

Tho you gave enough of a shit to post that wonderfully witty reply :-)

Sorry a bit pissed unrecognised tax losses? Trust me there all recognised unless my accounts are better than those of the best arseholes sorry global franchise in world.com

Tho not all expenses are allowable for tax purposes.

The unrecognised tax losses description is taken from Utd's accounts.

 

[Balti]

manure - horrible club with wankers for fans

 

[dazdon]

manure - horrible club with wankers for fans

Does anymore really need to be said?

Maybe their 650 million reserve season ticket holders think otherwise?

Or the many swamp rats from Manchester/Salford who just can't get a ticket?

 

[Anonymous]

you only have to go on redcafe to see the type of fans they have. They have a thread on manchester in the 70s with near enough every poster saying they lived there for a couple of years when they were students or there son is doing his second year. Not one actually from manchester or living there now

what a joke