Report: "Donald Trump's Scottish golf courses lost more than £9 million last year"
/The Daily Mail's Jenny Awford reports on losses for Trump Turberry and Trump Aberdeen that resulted in no UK corporate taxes. While the £9 million loss is eye-opening, the 2015 losses at Turnberry are easily explained by a closure for substantial renovations. Which, as I noted, turned out very well.
More eye-opening for Trump are the continued losses at Trump International Golf Links, a regular occurrence since the Martin Hawtree design opened in 2012.
But company accounts reveal the resort has lost money for the fourth year in a row since Trump struck the first ball at the championship 18-hole golf course.
It made a loss of £1million last year compared to losses of £1.1million in 2014, £1.8million in 2013 and £1.7million in 2012.
**Severin Carrell in The Guardian notes a discrepancy in Trump's UK filings and FEC filings.
In his filings last year to the US FEC, Trump declared that Turnberry generated income of $20.4m (£16.6m today) in 2014 and the Aberdeenshire course earned him $4.4m (£3.6m today).
His UK company accounts showed hefty losses on both resorts in that year, of £1.1m at the Aberdeenshire course and £3.6m at Turnberry. Last year’s operating losses at Turnberry were £8.4m. Trump lost a further £2m in dollar-to-sterling currency exchanges, bringing total losses for Trump to £10.5m last year. In 2014, he reports losing £3.1m in currency transactions at Turnberry, bringing his total losses to £6.7m in 2014. The result was an overall loss of £26m.
