Catterick windfall.

[grahampark]

The sale is still incomplete, as recently as last Thursday last i visited the solicitors to go through a considerable number of questions raised by the purchasers solicitor, many of which were not applicable.
Dealing with the income from the sale has not been agreed as yet, but the sale will be subject to Capital Gains Tax at approx 25% possibly more,however we have been advised that by investing in a like for like project would possibly substancially reduce the amount of C.G.T. payable, this has yet to be confirmed by our accountants.
Some money from the sale will be invested into the improvement of all the society owned stillwaters, namely Sandwath; Knotford and Kippax (polo ). By improvement we mean secure fencing; locked gates; car parks; pathways; fishing stands and fish stocks.


Graham

[canalking]

Good news Graham

[george]

Windfall or shortfall we now here possible 25% tax to be paid an ever increasing solicitors bill.and by the time a few welcomed fences and gates have been bought the low interest rates. There wont be much income left from the Capitol compared to the income from were the moneys have been raised from I think the sale is slowly becoming a very poorly advised project in terms of finance

[grahampark]

The solicitors fee, as far as the society is concerned, is a fixed fee negcioated at the very begining and is extremely reasonable considering the money involved.

Graham

[george]

very good Graham, but what do you think on the other side. I hope the dasa wont end up having less money to spend