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Tax implications - sale of Gordon + others


awadooningorgie2

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awadooningorgie2

Really exciting subject I know......, but, with the rumours of decent fees coming in for Webster and Bednar, will Hearts be crucified for tax in the year Aug 07 to July 08?

 

As I understand it, Craig Gordon's transfer was only concluded beginning of August.

 

Or will the club be able to carry over losses from previous years to offset against tax?

 

Any experts out there fill us in? It would seem almost perverse for a company in our situation to be forking out big bucks to the taxman.

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Assuming the sale of players constitutes a trading profit the club should be able to offset the profit against losses in the current year and losses b/f.

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