Record Reciepts | PASOTI
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Record Reciepts

Jan 6, 2004
6,439
6,645
I don't know what the current record is, but this match will come close I reckon

17,500 crowd

1,800 at £35
15,700 at average of say £15

around £300,000

I know I know, we don't keep it all.
 

jerryatricjanner

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Apr 22, 2006
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A small matter of c.20% VAT in there as well of course.
 
Jan 6, 2004
6,439
6,645
that why I reduced average down to £15 NWP, may be that is still a little high, don't know.

As for VAT, I think that is traditionally included in gate receipt figures which are the gross reciepts (although they don't get published as much generally these days for some reason)
 
Apr 30, 2011
2,166
1,242
Is VAT calculated and paid per sale or is it paid at the end of the financial year?

If so, we really need to invest some money somewhere to reduce profit and subsequent tax bill.
 

NLG

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Penmaster":pf94yo3j said:
Is VAT calculated and paid per sale or is it paid at the end of the financial year?

If so, we really need to invest some money somewhere to reduce profit and subsequent tax bill.

VAT is charged on the sale of goods, nothing to do with profit. You can claim back VAT on goods you buy, but have to pay the VAT collected on any goods/services sold. The balance is payable every three months typically. As Argyle's biggest outgoing is salaries which do not have VAT applied, they will normally have a large VAT bill every 3 months to pay.

Sure there are some accountants out there that can explain it better than this.
 
Apr 30, 2011
2,166
1,242
Northernlightgreen":3y1zi9yf said:
Penmaster":3y1zi9yf said:
Is VAT calculated and paid per sale or is it paid at the end of the financial year?

If so, we really need to invest some money somewhere to reduce profit and subsequent tax bill.

VAT is charged on the sale of goods, nothing to do with profit. You can claim back VAT on goods you buy, but have to pay the VAT collected on any goods/services sold. The balance is payable every three months typically. As Argyle's biggest outgoing is salaries which do not have VAT applied, they will normally have a large VAT bill every 3 months to pay.

Sure there are some accountants out there that can explain it better than this.

Ah I see, thanks for clarifying. Presumably if the company supplying the seats is VAT registered then we can claim that VAT payment back?
 
Jan 4, 2005
8,732
969
NEWQUAY
Penmaster":2esw72tw said:
Is VAT calculated and paid per sale or is it paid at the end of the financial year?

If so, we really need to invest some money somewhere to reduce profit and subsequent tax bill.

VAT claims were made quarterly in my time in business. Perhaps they are the same now?
 
May 8, 2011
5,788
793
Quintrell_Green":3siemp70 said:
Penmaster":3siemp70 said:
Is VAT calculated and paid per sale or is it paid at the end of the financial year?

If so, we really need to invest some money somewhere to reduce profit and subsequent tax bill.

VAT claims were made quarterly in my time in business. Perhaps they are the same now?

I used to do VAT returns monthly, one of the most stressful thing in my working life was the annual visit by the VAT inspectors.
 

monkeywrench

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Quintrell_Green":jlt41ui0 said:
Penmaster":jlt41ui0 said:
Is VAT calculated and paid per sale or is it paid at the end of the financial year?

If so, we really need to invest some money somewhere to reduce profit and subsequent tax bill.

VAT claims were made quarterly in my time in business. Perhaps they are the same now?

Usually quarterly. Can be monthly and even annually in some cases (although would have to make monthly payments). Basically you add up tax due on sales (output tax) in a VAT accounting period and VAT paid on purchases (input tax) in the same period and the difference is either paid to HMRC or reclaimed from HMRC. A simplistic version of events.
 
Oct 18, 2011
242
0
I do like back of fag packet maths threads. For what it's worth, VAT is added to sales @20%. As a VAT registered business, the club is in effect collecting VAT on behalf of HMRC. So your £20 ticket actually costs £16.67 plus VAT of £3.33. If the total gate receipt is £300,000, then the taxman gets £50,000 of this.

However, as some have already said, this will be reduced by any VATable supply costs that Argyle have incurred as a result of putting on the game. So for example, if the seats cost a total of £60,000 to install (I have no idea of the real figure), then £10,000 of this is VAT, so we would only pay £40,000 back to the taxman. Another example of VATable supply costs would be if we pay any staff through an agency, but not normal staffing costs.

And that's the end of today's back of fag packet maths lesson.