Originally Posted by
cocteautwin
Yes, that's an interesting point, I never noticed that. I'm no VAT Expert but I wonder if the deferred income includes the VAT until the tax point is reached when the new season kicks off? If that's the case then the deferred income number needs to be reduced by 20% to enable an accurate comparison to the gate income number. £4m taken in advance, with total receipts of £6m. That makes more sense. Not sure though.
The same numbers aren't split out in HFC accounts so difficult for us to make an exact comparison using our own numbers.
Edit - if anyone knows if the above VAT point is correct, it would be good to know. If HMFC had taken in £5m of advance season ticket money (including VAT £1m), shown this in deferred income, but left only £0.6m in cash, thus having spent £0.4m of their VAT cash already, before accounting for it to HMRC, then perhaps they are even more of a basket case than we ever thought.