Donald Trump has lost tens of millions on Scottish golf courses, accounts show

Source: The Guardian

[div class="except"]Donald Trump has lost tens of millions on Scottish golf courses, accounts show

Records for resorts in Aberdeenshire and Ayrshire conflict
with FEC filings in the US – and reveal he has avoided paying
UK corporation tax on the two courses

Severin Carrell Scotland editor
Wednesday 12 October 2016 18.32 BST

Donald Trump has lost nearly £26m ($31.8m) building his golfing empire in Scotland, his company accounts show – a sum that means the Republican presidential candidate has avoided paying any UK corporation tax on either of his two resorts.

The latest accounts filed to the UK authorities for Trump’s two resorts, in Aberdeenshire and Turnberry in Ayrshire, also show he has sunk more than £102m ($125m) of his own money into both businesses, despite losing increasing sums on both investments. The accounts suggest he may never make a profit on either resort, although the Trump family insist Turnberry will return to profitability in the short to medium term.

There is also an apparent discrepancy between the accounts and his filings last year to the US Federal Election Commission (FEC), the regulator which controls election spending.

In his attempt to create a global portfolio of world-class golf resorts, the Republican presidential candidate had invested £62.7m in buying and refurbishing the Open championship resort at Turnberry on the coast of south-west Scotland, between acquiring it in April 2014 and the end of 2015.

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Read more: https://www.theguardian.com/us-news/2016/oct/12/donald-trump-scotland-golf-course-resort-losses