natgillin/translations-raw huggingface dataset:
The change in the tenant's total capital is estimated for each year.
Sprememba najemnikovega skupnega kapitala se oceni za vsako leto.
Changes in tangible asset values will occur each year as a result of changes in replacement asset costs, depreciation of existing assets, and acquisition of new or replacement assets, and these changes have been forecast over a five-year period.
Vrednosti opredmetenih sredstev se bodo vsako leto spremenile zaradi spreminjanja stroškov nadomestitvenega premoženja, amortizacije obstoječega premoženja in pridobitve novega ali nadomestitvenega premoženja, takšne spremembe pa so bile predvidene v petletnem obdobju.
The tenant's required return was taken to be 16,2 % in nominal terms.
Upoštevalo se je, da je najemnikov zahtevani donos 16,2 % nominalno.
This is an estimate of BT's weighted average cost of capital (‘WACC’) in nominal pre-tax terms at 1 April 1993 — the relevant antecedent valuation date.
Gre za oceno tehtanega stroška kapitala BT nominalno pred obdavčitvijo na dan 1. aprila 1993 – ustreznega datuma predhodnega vrednotenja.
In this way the tenant's required cash flow at the year end is computed.
Tako se izračuna najemnikov zahtevani denarni tok ob koncu leta.
Since receipts, expenses and capital expenditure are incurred throughout the year, just as rent is payable during the year, the year-end required cash flow is expressed in mid year terms by applying a present value factor for 6 months at 16,2 %.
Ker so prejemki, izdatki in naložbe v osnovna sredstva značilni skozi vse leto, tako kot se najemnina plačuje med letom, je zahtevani denarni tok ob koncu leta izražen kot vrednost v sredini leta z uporabo 16,2-odstotnega faktorja sedanje vrednosti za 6 mesecev.
The tenant's required cash flow is deducted from the divisible balance, leaving a residual cash flow for each year, since that cash flow arises from transactions taking place throughout the year.
Najemnikov zahtevani denarni tok se odšteje od deljivega salda, razlika pa pomeni preostali denarni tok za posamezno leto, saj navedeni denarni tok izhaja iz transakcij, izvedenih med letom.
The present value of each year's cash flow (at 16,2 %) is then summed up and divided by the sum of the present value factors (equalling 5 years purchase at 16,2 %).
Sedanja vrednost denarnega toka v posameznem letu (16,2 %) se nato sešteje in deli z vsoto faktorjev sedanje vrednosti (ki so enaki 5-letni nabavi v višini 16,2 %).
The result, GBP 700636855, represents the estimated rental bid which the hypothetical tenant could afford to make in order to retain a return of 16,2 % on the capital investment which he would of necessity make in order to generate the receipts upon which his bid would be predicated.
Rezultat, 700636855 GBP, pomeni ocenjeno ponudbo za najemnino, ki bi jo hipotetični najemnik še lahko podal, da bi ohranil 16,2-odstotni donos kapitalske naložbe, ki bi jo moral nujno izvesti, da bi ustvaril prejemke, na katerih bi temeljila njegova ponudba.
The penultimate stage of the valuation involves the apportionment of the UK ‘cumulo’ value of over GBP 700 million to England and Wales.
Predzadnja faza vrednotenja vključuje porazdelitev „nakopičene“ vrednosti za Združeno kraljestvo v višini prek 700 milijonov GBP med Anglijo in Wales.
In the absence of any direct evidence of telecommunications traffic in each of the countries of the United Kingdom, it has been assumed that the apportionment most likely to be accurate should have regard to the distribution of economic activity between the constituent parts of the United Kingdom.
Ker ni bilo nobenega neposrednega dokaza o telekomunikacijskem prometu v vsaki od držav Združenega kraljestva, se je domnevalo, da bi najverjetnejša pravilna porazdelitev morala upoštevati porazdeljenost gospodarske dejavnosti med sestavnimi deli Združenega kraljestva.
On the basis of this evidence, 84,8 % of the UK ‘cumulo’ was apportioned to England and 4,2 % to Wales.
Na podlagi tega dokaza se je 84,8 % „nakopičene“ vrednosti za Združeno kraljestvo dodelilo Angliji in 4,2 % Walesu.
The resulting figures include a number of properties which are owned and occupied by BT but not included in the Central List hereditaments.
Dobljeni številki vključujeta več zemljišč ali stavb, katerih lastnik in uporabnik je BT, vendar niso vključeni med nepremičnine z osrednjega seznama.
These properties were capable of being valued directly on the basis of the rental method and separately assessed at GBP 149167870 in England and GBP 3822485 in Wales.
Navedena lastnina se je lahko ovrednotila neposredno na podlagi metode najemnine in ločeno je bila ocenjena na 149167870 GBP v Angliji in 3822485 GBP v Walesu.
The final stage of the valuation involves the subtraction of those separately assessed rateable values in order to arrive at the final rateable value for the Central list hereditaments, which was GBP 445 million in England and GBP 25 million in Wales.
Zadnja faza vrednotenja vključuje odštetje teh ločeno ocenjenih obdavčljivih vrednosti, s čimer se dobi končna obdavčljiva vrednost nepremičnin z osrednjega seznama, ki je znašala 445 milijonov GBP v Angliji in 25 milijonov GBP v Walesu.
The same method was applied for the following two valuation periods, using as a basis BT's actual accounts for the year 1997/98 for the 2000-2005 period, and for the year 2002/03 for the 2005-2010 period.
Enaka metoda se je uporabila za naslednji dve obdobji vrednotenja, pri čemer so se kot podlaga za obdobje 2000–2005 uporabili dejanski računovodski izkazi za leto 1997/98, za obdobje 2005–2010 pa izkazi za leto 2002/03.
The VOA used a tenant's required return of capital investment of 14,25 % for the 2000-2005 period and a required return of 12,25 % for the 2005-2010 period, this decrease reflecting the evolution of inflation.
VOA je za obdobje 2000–2005 uporabila najemnikov 14,25-odstotni zahtevani donos kapitalske naložbe in 12,25-odstotni zahtevani donos za obdobje 2005–2010, pri čemer takšno znižanje odraža gibanje inflacije.
The application of the R&E method to BT has resulted in the following rateable values since 1995:
Uporaba metode prejemkov in izdatkov pri BT je povzročila naslednje obdavčljive vrednosti po letu 1995:
List
Seznam
GBP 445 million
445 milijonov GBP
GBP 25 million
25 milijonov GBP
GBP 467 million
467 milijonov GBP
GBP 26 million
26 milijonov GBP
GBP 530 million
530 milijonov GBP
GBP 24 million
24 milijonov GBP
On the specific question of the 1995-2000 valuation, the UK Authorities acknowledge that the application of the R&E method to BT for that period was the object of a settlement, following more than five years of litigation and subsequent negotiations.
Glede posebnega vprašanja vrednotenja za obdobje 1995–2000 organi Združenega kraljestva priznavajo, da je bila uporaba metode prejemkov in izdatkov pri BT za to obdobje predmet poravnave, ki je sledila več kot pet let trajajočim sodnim postopkom in poznejšim pogajanjem.
The VOA is entitled to settle, which is common practice in the application of the property tax.
VOA ima pravico do poravnave, ki je običajna praksa pri odmeri davka od premoženja.
It cannot reach a settlement on a basis that does not represent the correct rateable value of the hereditament concerned.
Poravnave ne more doseči v zvezi z osnovo, ki ni pravilna obdavčljiva vrednost zadevne nepremičnine.
The UK Authorities emphasise that the settlement concluded with BT confirmed that its hereditament was to be valued on the basis of the R&E method rather than the contractor's basis method, which was favoured by BT, and that it resulted in a rateable value that was significantly higher than the value BT contended for.
Organi Združenega kraljestva poudarjajo, da je poravnava z BT potrdila, da je bilo treba njegovo nepremičnino ovrednotiti na podlagi metode prejemkov in izdatkov, ne pa na podlagi metode pogodbenikove osnove, ki ji je bil naklonjen BT, ter da je to povzročilo obdavčljivo vrednost, ki je bila mnogo višja od vrednosti, s katero se je strinjal BT.
Concerning the allegation made by Vtesse that, after the decision of the Valuation Tribunal, the VOA and BT settled on a rateable value of BT's network that was 15 % lower than the initial valuation made by the VOA, the UK authorities explained that the difference can be accounted for by the fact that the valuation carried out after the Valuation Tribunal's decision was the product of a more thorough analysis.
V zvezi z obtožbo Vtesse, da sta se VOA in BT po sklepu Valuation Tribunal dogovorila o obdavčljivi vrednosti omrežja BT, ki je bila za 15 % nižja od začetnega vrednotenja agencije VOA, so organi Združenega kraljestva pojasnili, da je razliko mogoče razložiti z dejstvom, da je vrednotenje, izvedeno po sklepu Valuation Tribunal, temeljilo na podrobnejši analizi.
When preparing the first valuation, which was presented before the Valuation Tribunal, the VOA and its economic consultant NERA were not able to obtain full details of BT's historic revenues, prices, volumes and costs since, in particular they did not have the tools to force disclosure of this information by BT.
Med pripravo prvega vrednotenja, ki je bilo predloženo pred Valuation Tribunal, VOA in njen gospodarski svetovalec NERA nista mogla pridobiti vseh podrobnosti o prihodkih, cenah, obsegih in stroških BT v prejšnjih obdobjih, ker zlasti nista imela orodja, s katerim bi BT prisilila, da te podatke razkrije.
BT appealed to the Lands Tribunal against the decision.
BT se je zoper sklep pritožil pred Lands Tribunal.
The Lands Tribunal hearing is a de-novo hearing.
Zaslišanje pred Lands Tribunal je de novo zaslišanje.
Furthermore, at that stage of the procedure, the VOA could issue information injunctions and obtain disclosure of relevant information by BT.
Poleg tega bi v tej fazi postopka VOA lahko izdala odredbo o predložitvi podatkov in zagotovila razkritje ustreznih podatkov s strani BT.
In particular, for the 2000 valuation, the VOA and NERA were able to obtain significant data which were not available to them in 1997, such as a full breakdown of BT's 1992/3 revenues and costs, BT's five-year plan produced before the AVD, and historic data on line and call volumes and prices and leased line volumes and prices.
Zlasti pri vrednotenju za leto 2000 sta VOA in NERA lahko pridobili bistvene podatke, ki jih leta 1997 nista imeli na voljo, na primer popolno razčlenitev prihodkov in stroškov BT v letu 1992/3, petletni načrt BT, izdelan pred datumom predhodnega vrednotenja, ter pretekle podatke o obsegih in cenah vodov in klicev ter obsegih in cenah zakupljenih vodov.
This new information affected all the main parts of the valuation, including forecast of revenues and operating costs, future capital expenditure and the hypothetical tenant's required return.
Ti novi podatki so vplivali na vse glavne dele vrednotenja, vključno z napovedjo prihodkov in stroškov poslovanja, prihodnjo naložbo v osnovna sredstva in zahtevanim donosom hipotetičnega najemnika.
Some of the changes tended to increase the rateable value.
Nekatere izmed sprememb so lahko zvišale obdavčljivo vrednost.
This was the case of the following factors:
Tako je bilo pri naslednjih dejavnikih:
The VOA finally used a tenant's required return of 12,27 % in real terms, instead of 12,5 %, as initially adopted by the Valuation Tribunal.
VOA je na koncu uporabila najemnikov zahtevani 12,27-odstotni donos po realni vrednosti, namesto 12,5-odstotnega, ki je ga je na začetku sprejel Valuation Tribunal.
Capital expenditure on the tenant's non-rateable assets were significantly revised downward, thanks in particular to the information provided by BT's 1993 business plan, which was not available in 1997.
Naložbe v osnovna sredstva v okviru najemnikovega neobdavčljivega prmeoženja so bile deležne precejšnjih popravkov navzdol, in sicer zlasti na podlagi podatkov iz delovnega načrta BT za leto 1993, ki leta 1997 ni bil na voljo.
The cost per redundancy was reduced from GBP 50000 to GBP 33900 in 1992/3.
Strošek na presežnega delavca se je v letu 1992/93 s 50000 GBP zmanjšal na 33900 GBP.
The factor with the main downward effect on rateable value was the change in forecast of future receipts and costs.
Dejavnik, ki je najbolj vplival na znižanje obdavčljive vrednosti, je bila sprememba napovedi prihodnjih prejemkov in stroškov.
The revised version predicted higher profits in the first year but lower in the subsequent years, compared with the forecasts used in the 1997 valuation.
Popravljena različica je v primerjavi z napovedmi, uporabljenimi pri vrednotenju iz leta 1997, v prvem letu predvidela večje dobičke, v poznejših letih pa manjše.
More precisely, these changes can be attributed to the following elements:
Natančneje, te spremembe je mogoče pripisati naslednjim elementom:
The X factor in price cap in 1997/8 was changed from -4,5 % to -7,5 % since the move to -4,5 % which took place in 1997 and was used in the 1997 valuation could not have been reasonably anticipated at the AVD.
Faktor X pri zamejitvi cen v letu 1997/8 se je z -4,5 % spremenil na -7,5 %, ker prehoda na -4,5 %, ki se je zgodil leta 1997 in se je uporabil pri vrednotenju iz leta 1997, ni bilo mogoče upravičeno pričakovati na datum predhodnega vrednotenja.
The forecast for the annual reduction in access deficit contribution per minute was increased from - 3 % to - 12 %, since the 1997 forecast did not take sufficiently into account the reduction in the size of the access deficit as exchange line prices increased faster than costs.
Napoved letnega zmanjšanja prispevka k primanjkljaju dostopa na minuto se je z - 3 % povečal na - 12 %, ker napoved iz leta 1997 ni dovolj upoštevala zmanjšanja velikosti primanjkljaja dostopa, saj so se cene naročniških priključkov povečevale hitreje kot stroški.
In the 1997 valuation, the VOA and NERA assumed that inland leased line prices would be rising with inflation.
Pri vrednotenju iz leta 1997 sta VOA in NERA domnevali, da se bodo cene notranjih zakupljenih vodov dvigale skupaj z inflacijo.
This assumption was not supported by the data on historic leased line prices which was subsequently released by BT, and these prices were assumed to remain constant in the context of the 2000 valuation.
Te predpostavke niso podprli podatki o preteklih cenah notranjih zakupljenih vodov, ki jih je pozneje objavil BT, in za te cene se je domnevalo, da bodo ostale nespremenljive v okviru vrednotenja iz leta 2000.
In the 2000 valuation, an allowance was made for additional outsourcing costs.
Pri vrednotenju iz leta 2000 je obveljala olajšava na dodatne stroške zunanjega izvajanja.
The combined effect of these factors meant that the final valuation was lower than that which had initially been calculated by the VOA in 1997.
Skupni učinek teh dejavnikov je bil, da je bilo končno vrednotenje nižje od tistega, ki ga leta 1997 prvotno izračunala VOA.
Finally, on the point raised by the Commission in its decision to open the procedure as to whether the R&E method correctly takes account of the possible inefficiencies and lower profitability of the firms to which the R&E method is applied, the UK authorities reply that valuation proceeds on the assumption of an average level of efficiency.
In končno, v zvezi z vprašanjem, ki ga je Komisija odprla v svoji odločitvi o sprožitvi postopka, ali metoda prejemkov in izdatkov pravilno upošteva možno neučinkovitost in nižjo dobičkonosnost podjetij, pri katerih se uporabi metoda prejemkov in izdatkov, organi Združenega kraljestva odgovarjajo, da vrednotenje temelji na predvidevanju povprečne ravni učinkovitosti.
Where there is evidence of less than average efficiency, the valuer using the R&E method must make adjustments to the estimated fair receipts and expenses.
Če obstajajo dokazi o podpovprečni učinkovitosti, mora ocenjevalec, ki uporabi metodo prejemkov in izdatkov, prilagoditi ocenjene primerne prejemke in izdatke.
The UK authorities claim that there is evidence that BT has an average level of efficiency and no adjustment was deemed necessary to make a correct valuation of their hereditament.
Organi Združenega kraljestva trdijo, da obstajajo dokazi, da ima BT povprečno stopnjo učinkovitosti, zato se prilagoditve zaradi pravilnega vrednotenja njegove nepremičnine niso zdele potrebne.
On the question of the universal service obligations (‘USO’) and the way in which they are taken into account in the valuation of BT, the UK authorities explained that no specific allowance is made for such USO.
Glede vprašanja obveznosti univerzalnih storitev in načina, kako se upoštevajo pri vrednotenju BT, so organi Združenega kraljestva pojasnili, da na takšno obveznost univerzalnih storitev ni posebne olajšave.
The costs of the USO are included in the overall predicted capital expenditure for growing the network and in the overall operating expenses.
Stroški obveznosti univerzalnih storitev so vključeni v skupno predvideno naložbo v osnovna sredstva za razširitev omrežja in v skupne operativne stroške.
The increased revenues resulting from the service of customers under the USO and from the brand enhancement resulting from the USO, if it exists, are included in the anticipated receipts.
Povečani prihodki, ki izhajajo iz storitev za uporabnike v okviru obveznosti univerzalnih storitev in iz morebitne okrepitve blagovne znamke, ki je posledica obveznosti univerzalnih storitev, so vključeni med pričakovane prejemke.
Valuation of Kingston
Vrednotenje Kingstona
A similar but much simpler staged approach to the R&E method was applied to Kingston.
Pri Kingstonu se je uporabil podoben, vendar mnogo preprostejši večfazni pristop k metodi prejemkov in izdatkov.
No model predicting the turnover likely to be derived from occupation of the hereditament over a five-year period was prepared.
Model za napovedovanje prometa, ki bi lahko izšel iz posesti nepremičnine med petletnim obdobjem, ni bil pripravljen.
The reason for this is that there are no networks serving residential customers competing with Kingston in the Hull conurbation area, no cable TV and little competition for commercial lines.
Razlog za to je dejstvo, da v somestju Hull ni omrežij, ki bi jih uporabljali uporabniki iz gospodinjstev in bi konkurirala Kingstonu, ni kabelske televizije, konkurence za komercialne vode pa je malo.
Due to the more stable situation in Kingston's Hull market, it was decided that a five-year projection was not necessary.
Zaradi stabilnega položaja Kingstona na trgu Hulla je bilo odločeno, da petletna napoved ni potrebna.
Instead, for the 1995-2000 period, regard was had to actual turnover and operating costs for the 3 years preceding the AVD and based on this, it has been assumed that the hypothetical tenant might reasonably anticipate a net income of around GBP 9,5 million per year before rent.
Namesto tega so se za obdobje 1995–2000 upoštevali dejanski promet in stroški poslovanja v treh letih pred datumom predhodnega vrednotenja in na podlagi tega se je domnevalo, da hipotetični najemnik lahko upravičeno pričakuje čisti dobiček v višini približno 9,5 milijona GBP na leto pred najemnino.
The tenant's required return has been taken to be 12,5 % on the value of the non-rateable assets (assumed to be GBP 64 million), giving a return of GBP 8 million to be deducted from net income.
Upoštevalo se je, da najemnikov zahtevani donos na vrednost neobdavčljivega premoženja (ki domnevno znaša 64 milijonov GBP) znaša 12,5 %, kar pomeni donos v višini 8 milijonov GBP, ki se odšteje od čistega dobička.
The residue of GBP 1,5 million is available for rent and was set as Kingston's rateable value for that period.
Preostanek v višini 1,5 milijona GBP je na voljo za najemnino in je bil določen kot obdavčljiva vrednost Kingstona za navedeno obdobje.
The same method, using the figures available in 1998 and 2003 gave a rateable value of GBP 5,1 million for the 2000-2005 period and GBP 7 million for the 2005-2010 period respectively.
Po enaki metodi in z uporabo številk, ki so bile na voljo leta 1998 in leta 2003, je obdavčljiva vrednost znašala 5,1 milijona GBP za obdobje 2000–2005 in 7 milijonov GBP za obdobje 2005–2010.
Revision mechanism
Mehanizem popravkov
The UK authorities also provided explanations concerning the revision mechanism applied to BT.
Organi Združenega kraljestva so zagotovili tudi pojasnila glede mehanizma popravkov, ki se je uporabljal za BT.
They explained that under Schedule 6 to the LGFA 1988 BT, like any other rate payer, is entitled to have its rateable value altered if a material change in circumstances (‘MCC’) occurs during its five year valuation period.
Pojasnili so, da je BT na podlagi Schedule (specifikacija dohodkov pri davčni napovedi) 6 k LGFA iz leta 1988 kot kateri koli drug davčni zavezanec upravičen do spremembe svoje obdavčljive vrednosti, če se med njegovim petletnim obdobjem vrednotenja bistveno spremenijo okoliščine.
The MCC is taken into account as if taking place at the antecedent valuation date.
Bistvena sprememba okoliščin se upošteva, kot da se je zgodila na datum predhodnega vrednotenja.
In the case of BT, MCCs take place every day, either because of the extension of BT's network (upward effect) or because of the roll-out of competing networks (downward effects).
V primeru BT se bistvene spremembe okoliščin dogajajo vsak dan, in sicer zaradi razširitve omrežja BT (zvišanje) ali zaradi razvijanja konkurenčnih omrežij (padec).
Theoretically, a valuation using the R & E method should take place every year, taking into account how these MCCs may have changed BT ' s five-year plan at the time of the antecedent valuation date.
Teoretično bi bilo treba vrednotenje z uporabo metode prejemkov in izdatkov izvesti vsako leto, pri čemer se upošteva, kako so te bistvene spremembe okoliščin na datum predhodnega vrednotenja lahko spremenile petletni načrt BT.
In preference to this complex method, the UK authorities and BT agreed on a proxy method of adjustment, based on the evolution of BT ' s market share in comparison with its market share in the year preceding the commencement of the rating list, and using data published by OFCOM.
Raje kot s takšno zapleteno metodo so organi Združenega kraljestva in BT soglašali z nadomestno metodo prilagoditve, ki temelji na gibanju tržnega deleža BT v primerjavi z njegovim tržnim deležem v letu pred začetkom seznama za odmero davka in uporablja podatke, ki jih objavi OFCOM.
This market share was calculated by dividing the total of all categories of BT's relevant revenues by the total of all corresponding categories of UK market revenues for fixed telephony.
Ta tržni delež je bil izračunan tako, da se je seštevek vseh kategorij ustreznih prihodkov BT delil s seštevkom vseh zadevnih kategorij prihodkov trga Združenega kraljestva za fiksno telefonijo.
The relevant categories are: (a) local calls; (b) national calls, (c) international calls, (d) calls to mobiles; (e) other calls, (f) exchange line connections, (g) exchange line rentals, (h) inland private leased rentals (this category includes the market on which BT and Vtesse compete), (i) inland private leased connections, (j) international private leased circuits, (k) interconnect and (l) telex (in 1995 list only) .
Zadevne kategorije so: (a) lokalni klici, (b) nacionalni klici, (c) mednarodni klici, (d) klici v mobilna omrežja, (e) drugi klici, (f) naročniški priključki, (g) najemi naročniških linij, (h) notranji zasebni zakupljeni najemi (ta kategorija vključuje trg, na katerem si konkurirata BT in Vtesse), (i) notranji zasebni zakupljeni priključki, (j) mednarodni zasebni zakupljeni vodi, (k) medomrežno povezovanje in (l) teleks (samo na seznamu za leto 1995).
Taking the example of the 2000-2005 list, BT's market share thus calculated was 68,47 % in 2000.
Če vzamemo primer seznama za obdobje 2000–2005, je tako izračunani tržni delež BT leta 2000 znašal 68,47 %.
The rateable value of its hereditament was GBP 467 million in England and GBP 26 million in Wales in 2000.
Obdavčljiva vrednost njegovih nepremičnin je leta 2000 znašala 467 milijonov GBP v Angliji in 26 milijonov GBP v Walesu.
For the subsequent year, BT's market share had fallen to 65,03 %.
V naslednjem letu je tržni delež BT padel na 65,03 %.