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Just announced they have won their appeal on the EBT tax case.
Still tax cheaters though thanks to Mr Whyte.
Still tax cheaters though thanks to Mr Whyte.
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Are you on phuckin drugs
  It's HMRC who have won Amusing ridicule on matter of side letters 'There was a conscious decision to conceal their existence, and that extended even to the Club’s auditors' That in itself amounts to a very damning comment on just how rancid the whole outfit were  They died chasing The Lions  |
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would whyte have paid the little bill(9m) if he knew that they would win the big case....and in turn save the club from all this turmoil ?
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they haven't won anything
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Former Rangers Football Club wins Big Tax Case appeal
The former Rangers Football Club was placed into administration in February The former Rangers Football Club has won an appeal against a tax bill over its use of Employee Benefit Trusts. The club, which is now in liquidation, used the scheme from 2001 to 2010 to make £47.65m in payments to players and staff in the form of tax-free loans. HM Revenue and Customs had challenged the payments, arguing that they were illegal. Rangers disputed the bill and a First Tier Tax Tribunal (FTT) has ruled the payments were loans that can be repaid. In its ruling, which two judges endorsed, with one dissenting, the FTT concluded: "This was a lengthy appeal, heard over 29 days and set down over an extended period. Continue reading the main story Rangers crisis explained Rangers went into administration owing up to £134m to unsecured creditors. As a result its registrations with the Scottish FA and Scottish Premier League were terminated. Charles Green led a consortium which bought Rangers' assets for £5.5m. The former Sheffield United chief executive reformed Rangers as a new company. The 'newco' did not get the required votes for re-admittance to the SPL and started life in Scottish Division Three. "There was extensive reference to documentary productions and relevant case-law. At a late stage in its deliberations it became clear that the tribunal would be unable to issue a unanimous decision. It is conscious of and regrets the consequent delay. "The majority view reflects the argument that the controversial monies received by the employees were not paid to them as their absolute entitlement. "The legal effect of the trust/loan structure is sufficient to preclude this. Thus the payments are loans, not earnings, and so are recoverable from the employee or his estate. "The dissenting opinion adopts the approach set down by the decision of the House of Lords in Ramsay in 1981. "By giving regard to the intentions of the parties entering the arrangements, and in the absence of commercial reality for the loan structure, the monies received by the employees via the trust constitute earnings for income tax purposes. "At the request of parties, the tribunal agreed to anonymise the published form of the decision." Old Rangers was under the control of Sir David Murray when it began using EBTs. He sold the club for £1 to Scottish businessman Craig Whyte in 2011, while the tax liability was in dispute. The FTT, before a judge, concluded in February, the same month as the old Rangers, now under the control of Mr Whyte, was forced into administration by HM Revenue and Customs (HMRC) over non-payment of tax totalling about £14m. HMRC subsequently rejected proposals for a creditors agreement that would have allowed the old club to continue. Administrators Duff and Phelps then negotiated a sale of assets to a consortium led by Charles Green for £5.5m. He has since formed a new club, now playing in the Scottish Football League Third Division. |
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Violencia Fantastico Retardo
would whyte have paid the little bill(9m) if he knew that they would win the big case....and in turn save the club from all this turmoil ? ---------------------------------------------- Exactly my point Violencia,Whyte obliterated them for no reason.  And Murray of course who was desperate to escape and flogged the club to Whyte for a quid. |
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HMRC knew they couldn't get money from the rotting carcass that is der hun, so they have got a verdict
allowing them to pursue individuals |
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Quite a colourful hearing.
Mr Yellow, Mr Blue, Mr Red, Mr Green, Mr Turquoise, Mr Violet, Mr Grey, Mr Black, Mrs Crimson, Mr Silver, Mr Gold, Mr Purple, Mr Indigo, Mr Magenta, Mr Scarlet. Is it normal at these hearings to disguise witness names or are they afraid of some "social unrest" fae ra berrs. |
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Those names were only released after FPLG demanded to "know who these people were!"
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Lol, the only colour not mentioned was mr fkn White!
 The side letter issue will see the title stripping begin, that's the main issue, the deceased club wouldn't have been paying anything anyway. |
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EXCLUSIVE: Return of the King! He's got cash for a place on Rangers board
By STEPHEN MCGOWAN PUBLISHED: 22:30, 16 November 2012 | UPDATED: 22:30, 16 November 2012 Comments (9) Share Dave King has revealed plans to plough fresh cash into Rangers — just months after seeing a previous investment of £20million go down the drain. The former Ibrox director won a six-year court battle with the South African Revenue Service to have a freeze on his British assets revoked last week, leaving the Johannesburg-based businessman free to invest in the UK. And, despite the continuing fight to clear his name on 322 charges of tax evasion in South Africa, Glasgow-born King has set his sights on a return to the Ibrox boardroom, insisting there are now no issues over his ‘fit and proper’ person status. His lingering concerns over chief executive Charles Green’s profit-based business plan mean the 57-year-old will sit out the current £20m share issue. Impressed by Walter Smith’s recruitment to the Ibrox board, however, King says he is almost ready to talk, telling Sportsmail: ‘I am certainly inclined to invest in Rangers again. I lost £20m through Rangers but I can absolutely see a scenario where I would like to return to the Rangers boardroom one day soon. ‘Any substantial investment I made in the club would incorporate that caveat. If I was going to come in with substantial sums of money then I would expect to be on the board as well. ‘I still have some concerns about the business model adopted by Charles Green. But investing in Rangers is a situation I would like to look at again towards the end of this season. ‘Clearly Charles Green might have something to say about that. And the time is not now for me to come back because Charles has a business plan which I don’t quite agree with. ‘But I would regard myself as a potential investor going forward. ‘As Rangers progress through the leagues they will need another type of investor. ‘The reality is that once Rangers are back in the Premier League, fans will expect them to automatically start challenging for the title and start competing in Europe again — which is what we all want. ‘But that will require extra capital in a couple of years’ time. And it will be then that people like myself will come into the equation. Because I would be willing to put money into the club on a non-profit basis.’ King put £20m into Rangers during David Murray’s tenure and lost every penny when the oldco club was plunged towards financial oblivion by former owner Craig Whyte. Concerns over Green’s profit motive prompted his brief dalliance with the Blue Knights takeover group in the summer, as former manager Smith was fronting another splinter group funded by businessman Jim McColl. Impressed by Green’s ability to bring Smith on side, however, King’s stance towards the current regime has softened. ‘All credit to Charles for being able to do that,’ he said. ‘It’s a great thing because it says that Charles must be getting the club going in the right direction.’ King was also deterred from investing in Green’s Sevco consortium by a restraining order imposed by the Crown Office on behalf of SARS. Before having the order lifted, however, King also had 37 counts of fraud and racketeering dropped in his adopted land and insists there are now no impediments to an Ibrox return. ‘I wrote to the SFA at the end of last year when I was looking to be involved in one of the consortiums, telling them of the allegations against me and asking if this might cloud their judgment in terms of my ability to be a fit and proper person at Rangers? ‘Their response was that because it was only allegations they would take representations from my legal team and if they could convince them I had a strong case then there would be no issue. ‘Now that has gone away. My assets have been freed and it’s just not an issue any more.’ ........................................................................ Some gers fans dont want any of the old board near the club whilst others will take a different view.At The end of the day the wage structure is unlikely to match up to what it used to be which is for the best in my view. |
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Your missing the point here thebrave, this is tax avoidance at it's worst. Of course the payments are wages and the individuals will never be asked to pay the 'loans' back. It's utterly disgraceful that this country is losing billions of pounds of tax and national insurance to this kind of thing.
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This is actually a good result for HMRC, no?
Instead of finding against the dead club in liquidation, who wouldn't be paying anything, they now will be able to go after individuals yes? Ex players, managers, etc. sounds about right. |
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So they should liam fkn hoods.
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No liamcol. The monies are treated as loans from on offshore trust, there is no liability on the recipients. If I lend you £100,000 there are no tax consequences. The whole point of this set up is so the employer avoids having to pay tax and national insurance, saving itself money.
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But the loans will have to be repaid to old club and liquidator and HMRC are biggest creditor so they will get their money.
I don't know much about the case at all but it seems quite a good decision by HMRC. Win and be faced with nothing. Lose and go after individuals and get the money that way |
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So why are all of you who live in the UK paying all your taxes?
Just tell your boss, put 20k forward for paye and NI and the rest put through a trust, jobs a good un. |
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Clear as mud! the big money investors will pour into Rangers in the not too distant future as if nothing has happened.Its the wee investors who lost out under the oldco I feel for, pure greed & mismanagement. They should get their collar felt.
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The verdict includes the fact that some players were not legally paid, and ARE therefore liable for payment of tax
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I meant the wee creditors as well, couldnae pay the paper shop ffs!
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great news for all Rangers fans ,no title stripping ,cheating accusations were wrong and the spl jumped the gun bigtime ,they wanted to strip titles before this case was even heard .
Taxman refused the cva due to the BTC and there should now be hell to pay . |
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A lot of people back tracking tonight.
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Just waiting on Benfica for the double with Rangers
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Only 1 club guilty of fiddling then?
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THE Board of The Rangers Football Club issued the following statement today.
Charles Green, chief executive commented: “I am sure that all Rangers fans will welcome that a judgment has been reached on this case at last. “That said, the judgment will not affect the operations of the Club nor the proposed flotation of the business as a public company. “This case is historic and was a matter for The Rangers Football Club plc ('oldco') which is in liquidation. “The Rangers Football Club Ltd is a corporate entity formed following the acquisition in June this year, by a consortium led by me, of the business and assets of Rangers, including the Club and its honours. “As HMRC stated in June when they decided to vote against the proposed oldco CVA, no tax liabilities relating to 'oldco' would transfer across to the new company. HMRC have recently reaffirmed this position to the Club's tax advisers, Deloitte. “The Rangers Football Club Ltd is a company free of external debt. “The judgment serves to further undermine the validity of the SPL Commission into the use of EBTs. “As we have said all along the SPL decision to press ahead with a commission was ill-timed and fundamentally misconceived.” |
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A list of honours that Rangers has won as a club and records set by teams past and present.
European Cup Winners' Cup: Winners 1972; Runners-up 1961, 1967 UEFA Cup: Runners-up 2008 Scottish League Champions (54)-- WORLD RECORD *1891, 1899, 1900, 1901, 1902, 1911, 1912, 1913, 1918, 1920, 1921, 1923, 1924, 1925, 1927, 1928, 1929, 1930, 1931, 1933, 1934, 1935, 1937, 1939, 1947, 1949, 1950, 1953, 1956, 1957, 1959, 1961, 1963, 1964, 1975, 1976, 1978, 1987, 1989, 1990, 1991, 1992, 1993, 1994, 1995, 1996, 1997, 1999, 2000, 2003, 2005, 2009, 2010, 2011 *In 1891 the championship was shared with Dumbarton Scottish Cup Winners (33) 1894, 1897, 1898, 1903, 1928, 1930, 1932, 1934, 1935, 1936, 1948, 1949, 1950, 1953, 1960, 1962, 1963, 1964, 1966, 1973, 1976, 1978, 1979, 1981, 1992, 1993, 1996, 1999, 2000, 2002, 2003, 2008, 2009 Scottish League Cup Winners (27) Season Starting: 1946, 1948, 1960, 1961, 1963, 1964, 1970, 1975, 1977, 1978, 1981, 1983, 1984, 1986, 1987, 1988, 1990, 1992, 1993, 1996, 1998, 2001, 2002, 2004, 2007, 2009, 2010. Record Ibrox attendance: 118,730 v Celtic, Division One, January 2nd, 1939 |
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Surely it is not only Rangers who took advantage of this loophole... The porn baron who sold them the idea can't have been the only person out there to think it up.
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Somebody should go and piy the papers as a matter of principle.
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If a criminal is up for 2 murders and is only found guilty for 1 murder,then he is still a murderer.
Just the same as Rangers are still tax evaders. |
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They were paid
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Were they?
Thanks, feel a bit better now. |
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Sad thought is that there is a large section of Sellik fans would take a proper humping from Benfica tonight in exchange for a different verdict on the Tax case.
Obsessed. |
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Never mind tax evaders,I hope those work evaders get soaked
and miserable in Lesburn |
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Celtic playing more open tonight, not a good idea.
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This user is online. mactheknife Date Joined: 06 May 03 Add contact | Send message When: 20 Nov 12 16:26 Joined: Date Joined: 06 May 03 | Topic/replies: 3,806 | Blogger: mactheknife's blog Former Rangers Football Club wins Big Tax Case appeal The former Rangers Football Club was placed into administration in February The former Rangers Football Club has won an appeal against a tax bill over its use of Employee Benefit Trusts. The club, which is now in liquidation, used the scheme from 2001 to 2010 to make £47.65m in payments to players and staff in the form of tax-free loans. HM Revenue and Customs had challenged the payments, arguing that they were illegal. Rangers disputed the bill and a First Tier Tax Tribunal (FTT) has ruled the payments were loans that can be repaid. In its ruling, which two judges endorsed, with one dissenting, the FTT concluded: "This was a lengthy appeal, heard over 29 days and set down over an extended period. Continue reading the main story Rangers crisis explained Rangers went into administration owing up to £134m to unsecured creditors. As a result its registrations with the Scottish FA and Scottish Premier League were terminated. Charles Green led a consortium which bought Rangers' assets for £5.5m. The former Sheffield United chief executive reformed Rangers as a new company. The 'newco' did not get the required votes for re-admittance to the SPL and started life in Scottish Division Three. "There was extensive reference to documentary productions and relevant case-law. At a late stage in its deliberations it became clear that the tribunal would be unable to issue a unanimous decision. It is conscious of and regrets the consequent delay. "The majority view reflects the argument that the controversial monies received by the employees were not paid to them as their absolute entitlement. "The legal effect of the trust/loan structure is sufficient to preclude this. Thus the payments are loans, not earnings, and so are recoverable from the employee or his estate. "The dissenting opinion adopts the approach set down by the decision of the House of Lords in Ramsay in 1981. "By giving regard to the intentions of the parties entering the arrangements, and in the absence of commercial reality for the loan structure, the monies received by the employees via the trust constitute earnings for income tax purposes. "At the request of parties, the tribunal agreed to anonymise the published form of the decision." Old Rangers was under the control of Sir David Murray when it began using EBTs. He sold the club for £1 to Scottish businessman Craig Whyte in 2011, while the tax liability was in dispute. The FTT, before a judge, concluded in February, the same month as the old Rangers, now under the control of Mr Whyte, was forced into administration by HM Revenue and Customs (HMRC) over non-payment of tax totalling about £14m. HMRC subsequently rejected proposals for a creditors agreement that would have allowed the old club to continue. Administrators Duff and Phelps then negotiated a sale of assets to a consortium led by Charles Green for £5.5m. He has since formed a new club, now playing in the Scottish Football League Third Division. |
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Party in full swing!!
Oh what a night. |
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Fully
You are wrong your team has not won any trophies,and has no honours,although that may be rectified at the end of this season,with their first trophy,possibly division 3 champions By the way enjoy the party |
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Notsoshrewd you don,t get it do you?
All the trophies you and your pals demanded to be handed over 5 months ago now remain where they belong. Have a nice xmas |
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I will and you too
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Fully I've never demanded any trophies be handed over. Rangers have sold their trophies to a new club. I did demand that the history books be rectified should Rangers have been found to be cheating. I await the outcome of the investigation. You do realise though that the tribunal did find that with respect to some players the EBTs were illegal?
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