Stadium Expansion *APPROVED* Sept ‘22 - Details / Images Released on Planning Site

[Wolfox]

I haven’t seen everything on this thread…. Are they close to propose a date where spades go into the ground?

[Tommy G]

23 hours ago, Clever Fox said:

This sums it up perfectly. The problem is it's not aimed at ordinary people. It's for Companies who can write it off against tax. So it doesn't cost the company anything either.

They should introduce a package for ordinary people also.

''Write it off against tax''

 

You do realise a business can't just have a hospitality box and ''write it off against tax'' Maybe in the 80/90s but the rules are a lot more stringent in 2023.

[davieG]

3 minutes ago, Tommy G said:

''Write it off against tax''

 

You do realise a business can't just have a hospitality box and ''write it off against tax'' Maybe in the 80/90s but the rules are a lot more stringent in 2023.

I thought they used them as meeting rooms during the week, I presume that helps to reduce the cost.

[Vlad the Fox]

25 minutes ago, davieG said:

I thought they used them as meeting rooms during the week, I presume that helps to reduce the cost.

If you have a box for the season you have seven days access to it.

 

However that doesn’t mean you can sell your house and move in.

Edited 11 October 2023 by Vlad the Fox

[TrentFox]

8 minutes ago, Vlad the Fox said:

If you have a box for the season you have seven days access to it.

 

However that doesn’t mean you can sell your house and move in.

I’ve slept in a box - at the old Upton Park ground! They converted them into hotel accommodation in the week 😂

[st albans fox]

42 minutes ago, Tommy G said:

''Write it off against tax''

 

You do realise a business can't just have a hospitality box and ''write it off against tax'' Maybe in the 80/90s but the rules are a lot more stringent in 2023.

Yep

If you can show that it’s used solely for entertaining clients via a list of who is attending every game then I think you’d get away with those employed by the company not having to pay tax on the benefit of their attendance on their P11D. But there would need to be at least half of the box not employed by the business for the taxman to agree.  I imagine most companies who pay for their box take the risk and don’t declare who is attending. If they receive an inspection then they’ll have to deal with the consequences. 

 

there is no ability to write off client entertaining against tax - it’s just a business cost and it needs to be justifiable if challenged 

Edited 11 October 2023 by st albans fox

[Tommy G]

3 minutes ago, st albans fox said:

Yep

If you can show that it’s used solely for entertaining clients via a list of who is attending every game then I think you’d get away with those employed by the company not having to pay tax on the benefit of their attendance on their P11D. But there would need to be at least half of the box not employed by the business for the taxman to agree.  I imagine most companies who pay for their box take the risk and don’t declare who is attending. If they receive an inspection then they’ll have to deal with the consequences. 

 

there is no ability to write off client entertaining against tax - it’s just a business cost and it needs to be justifiable if challenged 

Exactly, I understand the rules I'm a chartered accountant - just didn't want to go into all the detail, but thanks for the full explanation - you'd do well working for HMRC I reckon 

[davieG]

46 minutes ago, davieG said:

I thought they used them as meeting rooms during the week, I presume that helps to reduce the cost.

@Tommy G

Not sure why it's so funny, I've certainly been to meetings in them with a small company that had a box and no space for a meeting room at their business premises, surely that's saving them having to expand, move or pay for a room elsewhere whilst having the benefit of the box on matchdays for themselves/staff.  It was just a thought not a fact as I'm not and accountant

[Tommy G]

16 minutes ago, davieG said:

@Tommy G

Not sure why it's so funny, I've certainly been to meetings in them with a small company that had a box and no space for a meeting room at their business premises, surely that's saving them having to expand, move or pay for a room elsewhere whilst having the benefit of the box on matchdays for themselves/staff.  It was just a thought not a fact as I'm not and accountant

Yes there are some indirect benefits I agree, it made me laugh that businesses would go to the faff of holding meetings in a box at LCFC, that's all. 

[Babylon]

4 minutes ago, Tommy G said:

Yes there are some indirect benefits I agree, it made me laugh that businesses would go to the faff of holding meetings in a box at LCFC, that's all. 

They probably don't... but it's probably a bit more palatable to the tax man. "We have meetings 6 days a week Mr Tax man, it's just for personal use on a Saturday", so I'll just put it down as 6/7 in the books 

[Zear0]

I used to hold interviews in a box at Pride Park as the rate was less that what I was charged for internal hire of a room at my old work.  Genius.

[davieG]

39 minutes ago, Tommy G said:

Yes there are some indirect benefits I agree, it made me laugh that businesses would go to the faff of holding meetings in a box at LCFC, that's all. 

Well I've been to plenty of meetings there and at the Tigers, there's a better chance you're not going to be interrupted, refreshments/lunches can be arranged and parking. Whether there's a financial benefit I don't know I just assume there was.

[Tommy G]

1 minute ago, davieG said:

Well I've been to plenty of meetings there and at the Tigers, there's a better chance you're not going to be interrupted, refreshments/lunches can be arranged and parking.

I can see the atraction if meeting with a supplier or customer, depending on the industry you're in. 

[Greg2607]

25 minutes ago, Tommy G said:

I can see the atraction if meeting with a supplier or customer, depending on the industry you're in. 

tom can you buy a box for your company and then invite me as a supplier please??  i'm generally available to meet on a Saturday at around 15:00. 

[Sol thewall Bamba]

1 hour ago, Tommy G said:

 I'm a chartered accountant 

Really? You've never mentioned it!

[Tommy G]

1 hour ago, Sol thewall Bamba said:

Really? You've never mentioned it!

Top top banter

[Ivan Burrows]

I understood the delay was due to the section 106 agreement not being signed off but I stand corrected.

[K1Keith]

Update from the fans committee meeting, Link also attached to all notes : 

 

Stadium Development: • S106 terms will soon be agreed and ratified by the Club and council. Once the S106 is signed, the Club will have outline planning permission approved to commence with the project within a five year timeframe. • The Club is still committed to the development, but timing will be crucial. Additional land (EON) was acquired post planning application, which now needs to be integrated in the plan. Divisional status is not an exclusive consideration, but Premier League status is evidently healthier for the business model. • Member raised a question that should the Club gain promotion to the PL and building works start, but then suffer another relegation, what would happen to the progression of the development? The Club confirmed that the commencement of development work would be underpinned by a business plan that would take risk factors into consideration, making it unlikely that development would be affected by circumstances changing mid-project. • Members asked if an update on development status could be shared on the Club’s communication channels – even if this is minimal. AH to look into. • Member raised the question on the use of the proposed Arena – the Club can only confirm an Arena is part of the current masterplan but do not have any further detail to share at this moment. • DSA Member raised the issue of being told that any alterations to the current stadium are being put back until the stadium development – the Club confirmed that it would continue to ensure compliance with all accessibility regulations in the meantime.

 

https://foxestrust.co.uk/wp-content/uploads/2023/10/FCC-Summary-Points-06.09.2023.pdf

 

[ozleicester]

1 hour ago, K1Keith said:

Divisional status is not an exclusive consideration, but Premier League status is evidently healthier for the business model

 the people running this are absolutely on the ball... no worries

[Spudulike]

6 hours ago, K1Keith said:

Update from the fans committee meeting, Link also attached to all notes : 

 

Stadium Development: • S106 terms will soon be agreed and ratified by the Club and council. Once the S106 is signed, the Club will have outline planning permission approved to commence with the project within a five year timeframe. • The Club is still committed to the development, but timing will be crucial. Additional land (EON) was acquired post planning application, which now needs to be integrated in the plan. Divisional status is not an exclusive consideration, but Premier League status is evidently healthier for the business model. • Member raised a question that should the Club gain promotion to the PL and building works start, but then suffer another relegation, what would happen to the progression of the development? The Club confirmed that the commencement of development work would be underpinned by a business plan that would take risk factors into consideration, making it unlikely that development would be affected by circumstances changing mid-project. • Members asked if an update on development status could be shared on the Club’s communication channels – even if this is minimal. AH to look into. • Member raised the question on the use of the proposed Arena – the Club can only confirm an Arena is part of the current masterplan but do not have any further detail to share at this moment. • DSA Member raised the issue of being told that any alterations to the current stadium are being put back until the stadium development – the Club confirmed that it would continue to ensure compliance with all accessibility regulations in the meantime.

 

https://foxestrust.co.uk/wp-content/uploads/2023/10/FCC-Summary-Points-06.09.2023.pdf

 

So the King Power will have Outline approval given once the S106 has been signed off. This presumably is for the seven(?) buildings and not the stadium which, iirc, was granted Full approval previously. 

 

Given it's been stated that stadium development will only proceed in tandem with all of the other structures (ie. Not one without the other) then Full consent will also be needed before we see spades in the ground, it would seem. 

 

So that will potentially mean yet more delays unless that's what's been worked on for the past 18 months, or whatever. 

 

[lfu]

"S106 terms will soon be agreed and ratified by the Club and council."

Given "soon" is not quantified, I expect the decision will come no earlier than December 2030

[davieG]

1 hour ago, Spudulike said:

So the King Power will have Outline approval given once the S106 has been signed off. This presumably is for the seven(?) buildings and not the stadium which, iirc, was granted Full approval previously. 

 

Given it's been stated that stadium development will only proceed in tandem with all of the other structures (ie. Not one without the other) then Full consent will also be needed before we see spades in the ground, it would seem. 

 

So that will potentially mean yet more delays unless that's what's been worked on for the past 18 months, or whatever. 

 

I think they only wanted outline planning for the rest as I'm sure it'll change especially now they have the EON building to include

[Claridge]

Have to be pretty stupid to start without everything agreed, anyone any idea of the amount it will cost. Heard 600 million mentionned

[StanSP]

Don't think it's as much as that. 

 

Reckon it's more around the £599 million. 

[Sly]

Construction costs are definitely coming down. Raw materials and labour are cheaper than they were 6 months ago. 
 

I can see them falling further, so maybe we might actually save a few million by delaying this.