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dics View Drop Down
Far too distracted from work
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    Posted: 17 Aug 06 at 3:50pm
Originally posted by turnturtle

... besides paying myself to go sailing sounds good in theory, but I doubt it will help me flog much product. 

But you can prove it does (for tax purposes). The reason for adverting to to get your product over to you target market. Now the reason for sponsering is a cheap way of getting press coverage. Now sailing is enojoyed my many, many professionals from all types of industry -  there's your market. It is mass marketing to a broad diverse base and within it is your target market (bit like advertising on TV). Just think of all the people that would want your product that sail as a past time, and you're adverting you boat on the winning of the Nats via a photo in Y&Y. If you don't get you photo in the press then put it down to the high risk advertising campaign and nothing is lost, just put in a bigger budget next year to do better!

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Guest View Drop Down
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Posts: 0 		Post Options Post Options   Quote Guest Quote  Post ReplyReply Direct Link To This Post Posted: 17 Aug 06 at 3:50pm
Originally posted by turnturtle

Originally posted by Scooby_simon

Originally posted by Guest#260

dics - are you an accountant?

 

Sounds like it..

Just off to set up my new company "Pay Scooby to sail"

sorry scoobs- twice the hulls twice the benfit in kind!!!

But - if he's cat sailing it would be far easier to argue the point about personal enjoyment ...

I am not sure I can believe disc point as a car is necessary for business but a boat ... lets see his (or her) credentails ...
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dics View Drop Down
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Posts: 317 		Post Options Post Options   Quote dics Quote  Post ReplyReply Direct Link To This Post Posted: 17 Aug 06 at 3:54pm

Originally posted by Guest#260

dics - are you an accountant?

Please don't put that slurr against my good name! lol. I prefer to say I work in venture capital and leave it at that. It just makes my life sound more interesting since most people then don't have clue.
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tack'ho View Drop Down
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Really should get out more
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Posts: 1100 		Post Options Post Options   Quote tack'ho Quote  Post ReplyReply Direct Link To This Post Posted: 17 Aug 06 at 3:57pm
Originally posted by dics

Originally posted by Guest#260

dics - are you an accountant?

Please don't put that slurr against my good name! lol. I prefer to say I work in venture capital and leave it at that. It just makes my life sound more interesting since most people then don't have clue.

Ok you may not actually work as an accountant but do you hold any ACA quals?!?

My missus tries the same trick!
I might be sailing it, but it's still sh**e!
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dics View Drop Down
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Posts: 317 		Post Options Post Options   Quote dics Quote  Post ReplyReply Direct Link To This Post Posted: 17 Aug 06 at 4:05pm
Originally posted by turnturtle

I wouldn't fall into the trap of parrallelling a MPS on the asset register with a mondeo... you're quite right, it's dodgy ground.

[ps I can't believe I just got away with associating the MPS with a mondeo and it remains in context of the debate...]

 

Wasn't it HSBC that had a fleet of yatchs, one of which got stuck on a sand bank and appeared in the paper "the worlds local sand bank!"? They most certainly would have had they capital allowance worth from that fleet. 

 

 



Edited by dics
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dics View Drop Down
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Posts: 317 		Post Options Post Options   Quote dics Quote  Post ReplyReply Direct Link To This Post Posted: 17 Aug 06 at 4:12pm

[/QUOTE]

Ok you may not actually work as an accountant but do you hold any ACA quals?!?

My missus tries the same trick!

[/QUOTE]

I do have membership of a couple of chartered associtations in the finance industry namely ACA and ACMA as well as other lesser unchartered associations. But I do work in industry and commerce, hence I said I work for a venture capital company, not for a practice as they are boring as hell.



Edited by dics
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dics View Drop Down
Far too distracted from work
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Posts: 317 		Post Options Post Options   Quote dics Quote  Post ReplyReply Direct Link To This Post Posted: 17 Aug 06 at 4:34pm
Not at all upset. I personaly see it a shame that people work so hard to be taxed so high. Nothing politcal about my view I just think it's a rip off, and someone who can save tax by tax planning should do. But too many accountants work "within" the tax rules.They should should work "with" the tax rules to get a better tax position for the average person. Too many times I have heard people say "My accountant says I have tought him more about tax avoidance than anyone else." (Remeber tax avoidance is legal, tax evasion is the illegal one.) To me, it just shows they aren't doing a good job so it's up to you to keep questioning it.
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Philsy View Drop Down
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Posts: 344 		Post Options Post Options   Quote Philsy Quote  Post ReplyReply Direct Link To This Post Posted: 17 Aug 06 at 8:12pm
I've heard that some big yachts are bought by MDs of companies, using
finance schemes and they use them for 'entertaining employers'. Not sure
how that works, though.

Back to the DVD - I watched some of it last night and thought it very good. I
learnt some new stuff.

Oh, and just to put me in the petrolheads' good books, I've just returned
from a high-speed blast round northern France in a 911. For business, of
course...
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Medway Maniac View Drop Down
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Posts: 2788 		Post Options Post Options   Quote Medway Maniac Quote  Post ReplyReply Direct Link To This Post Posted: 17 Aug 06 at 8:27pm

Originally posted by Philsy



Oh, and just to put me in the petrolheads' good books, I've just returned
from a high-speed blast round northern France in a 911. For business, of
course...

That should put you in environmental friends good books as well, because a 911 is light and aerodynamic, whereas in the case of certain less-light and less-aerodynamic vehicles...
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Charlie View Drop Down
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Posts: 209 		Post Options Post Options   Quote Charlie Quote  Post ReplyReply Direct Link To This Post Posted: 17 Aug 06 at 10:37pm
Originally posted by dics

Not at all upset. I personaly see it a shame that people work so hard to be taxed so high. Nothing politcal about my view I just think it's a rip off, and someone who can save tax by tax planning should do. But too many accountants work "within" the tax rules.They should should work "with" the tax rules to get a better tax position for the average person. Too many times I have heard people say "My accountant says I have tought him more about tax avoidance than anyone else." (Remeber tax avoidance is legal, tax evasion is the illegal one.) To me, it just shows they aren't doing a good job so it's up to you to keep questioning it.


Ok if we really want to go down this boring route, the Inland revenue have kind of scuppered the accountants these days, by saying that they have to disclose any tax avoidance schemes to the inland revenue which i think isn't really fair. The tax rules allow for a bit of manipulation these days but not that much unless you have the money to spend on offshore schemes and similar.

I wouldn't obviously recommend doing this but your best bet is to just dump the boat expenses in "cost of sales" it's the one of the places that doesn't get checked that much by the auditors as there is usually so much in there. Only fools dump the dodgy expenses in sundry or miscellaneous.


Edited by Charlie
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