Any other notable figures?
A large amount of money has been paid into an employee benefit trust by Sisu.
Trusts like this allow employers to deposit money into the trust, which is paid out to the beneficiaries in the form of tax-free loans which are not always repaid.
Employee benefit trust payments should not be made on a contractual basis - as that would essentially mean they are salary and subject to tax and national insurance.
Mr Carvell said: “There has been a £614,000 increase in investments.
“The investment, in a nutshell, is what’s called an employee benefit trust. It’s a trust set up for the benefit of employees.
“They are spending a lot of money for their employees.
“They’ve had a really good year but, because of the employee benefit trust, they’ve really done no better than the year before.
“The number of debtors has gone down, but the cash has gone up. It’s more cash rich at the end of the year.”
If Fisher says we've made £1m profit.... Where is it??? not gone back into CCFC. Yet suddenly SISU have made a big profit, and extremely generously have paid into a "Employee Benefit Scheme" which as you can see in the highlighted part of the post .... which is paid out to the beneficiaries in the form of tax-free loans which are not always repaid.
I wonder who that could be???
