Stupid Question

kodfish

Are capital gains paid on profits made on a transfer or is this offset by the Players wages?

RedZed333

[cite]Posted By: kodfish[/cite]Are capital gains paid on profits made on a transfer or is this offset by the Players wages?

It depends...

Stebo

yes

Red_Pete_in_Dubai

Kodfish, Len is probably the expert on here on matters like this but I can tell you that companies don't actually pay capital gains tax, they pay corporation tax. Any profit on selling a business asset is called a "chargaeble gain" and is thrown into the pot of other business profits and losses when calculating how much corporation tax that company has to pay.

So any profit made on selling a player will be added to all other income & expenditure (including players' wages) when deciding how much tax there is to pay.

Hope that this helps.