Thread: Salary cap, Shmalary Cap
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Old 10 Nov 2022, 10:23 (Ref:4133169)   #453
crmalcolm
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Quote:
Originally Posted by peebee2 View Post
RB were found to have marginally exceeded the cap.
FTFY

Although to be accurate:
If RBR applied the correct treatment within its Full Year Reporting Documentation of RBR’s Notional Tax Credit within its 2021 submission of a value of £1,431,348, it would have been considered by the Cost Cap Administration to be in compliance with Article 4.1(b) of the Regulations and therefore RBR’s Relevant Costs for the 2021 Reporting Period would have in fact exceeded the 2021 Cost Cap by £432,652 (0.37%).

In summary - RBR exceeded the cap. The reported excess was higher than it could have been if they had complied with the reporting requirements of the regulations. Their accounting procedures did not cause the breach, but they exaggerated it.
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