Interesting angle in today’s Telegraph: “Celtic are the only club in Scotland, apart from Rangers, who are known to have used an EBT contract”. Why are we part of this conversation? Despite the millions of words written on the subject of EBTs over the last six years, there appears to be a curious misunderstanding about them.
Juninho arrived at Celtic with an EBT from earlier in his career. Celtic funded this Trust around the time the player left the club, informed HMRC about the transaction, and paid the tax due. No side letters (contracts) were issued with regard to this Trust. No information was hidden from HMRC or football authorities.
The conversation went a bit like this:
Celtic: Hi HMRC, Celtic here. We’ve paid Mr Juninho’s EBT £Xk. What is our tax position?
HMRC: £Yk tax is due on that payment.
Celtic: Thanks. Will pay today.
EBTs are in themselves not illegal, nor even immoral. They were introduced to allow employers a framework to give loans to employees. Many employers, formally or informally, give loans to employees to cover everything from crises to Christmas expenses. Or migration expenses, which is occasionally the case in football. That some use EBTs to attempt to put income beyond the reach of taxation is a reflection on those clubs, not others who openly declare EBT payments to HMRC and pay any corresponding tax.
The newspaper goes on to offer a defence against HMRC, almost as though it was dictated from David Murray himself: “it is believed that one argument against the supposition that Rangers secured players by means of EVTs (sic.) is that a range of variable inducements were in operation at that time and not only at Ibrox.
“Other avoidance schemes involved investment in such vehicles as film production companies and forestry development.”
Yes, a range of other inducements were available – legal ones. Other people legally used other schemes. It’s clarity of thought like this being a defence of Rangers that which put them into such a mess to begin with.
Delighted to read Rangers Tax Case back with such insight last night. Catch up with him here if you missed it.
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Let’s get ready to crumble!
GSL was probably running about the roof with a spanner today, any excuse to not pay back the five million or unleash the war chest.
Almore & Dena
Stranraer may be a good venue for a mini hootenanny. Easier for our Belfast Brigade to reach than most Scottish Tims.
Anybody blamed Craig Whyte yet?
What a disappointing day for this blessed place.
Surely we should be fighting the corruption in Scottish football rather than bickering amongst ourselves?
ACGR, G64, BMCUW & Jobo…. Haste yet back
HH
Dena29: keep me in mind anyway. If something comes up let me know. I could probably get a train to Belfast and taxi to port and go on boat as a foot passenger.
Any spares for Stranraer?
CRC: Looking forward to it.
#TheSonsofRoof
Delaneys Dunky on 1st December 2015 9:38 pm
its very easy for us to get to
HH
BBC urging party members to vote for bombing and not cross the floor to join “terrorist sympathisers”!
168,000+ HAVE NOW SIGNED: Petition Vote no on military action in Syria against IS in response to the Paris attacks
In response to the tragedy of the Paris attacks, the British government is considering military action; air strikes against ISIS targets. However, this is the response that ISIS is wanting and hopes to gain recruits and increase its numbers from the fear and radicalise more people against the West.
https://petition.parliament.uk/petitions/113064
Please consider signing and RT/Pass it on.
H.H.
!!BADA BING!!
#TheSonsofRoof
Glorious stuff. You have been missed, sir
BBC reporting/quoting CAMERON
ALMORE on 1ST DECEMBER 2015 9:42 PM
Dena29: keep me in mind anyway. If something comes up let me know. I could probably get a train to Belfast and taxi to port and go on boat as a foot passenger.
Any spares for Stranraer?
we regularly pick bhoys up at the petrol station outside the port….. if you get a ticket ….no problem
HH
Hi there ‘Terrorist Sympathisers’ how are you all feeling tonight ?
OG & Bada
Should that not be “Sons of No roof”?
Hat and coat collected!
HH
O.G-HH -Getting painful on here these days.
Big Nan @9:44 PM
Signed
“Show us ra deeds!”
“Show us the safety certificate!”
Tax Fiddler On The Roof…
SOAL-The GB and the Celtic Trust, will eventually get the blame of this………
For all the crumbling stadium there seemed to be a decent crowd ( numerically ) at bigot dome tonight ! Vs Dumbarton on a wet December Tuesday.
Amazing that they seem so much more behind their leadership and club than Celtics followers.
Cheers Dena, will keep you posted closer to the game.
Burnley78
They kept moving the fans every ten minutes into other stands
Love
Thetimreaper
Only a riddor, if an accident/injury happens resulting in lost time at work over 7 days
A few Nebosh qualified Bhoys will now correct me :-)
In all fairness based on what is hanging the risk assessment should have resulted in the game being stopped due to risk to fans, it would have cost them a replay and associated costs, hence game is being played – not sure how HSE will view this decision once informed
Hail Hail
Almore on 1st December 2015 9:58 pm
:-))
HH
Starry Plough
“If I were a rich man,..
dabba dabba dabba dabba dabba da..”
King’s Chorus, Chelsea.
BIG NAN
Was watching Sky News last week, a very rare thing I may add, and yer man John somebody, he was a bomber pilot, who got captured I recall in the first Iraq war, anyways, he is 100% against bombing Syria, he explained that if the brits start bombing other nations will just bomb less, it won’t make a blind bit of difference, a political move, nothing else.
HH
!!Bada Bing!!
Too many troughs and far too few crests, which makes them all the more memorable.
STARRY PLOUGH, 9:55 PM
Tax Fiddler On The Roof…
Both Raffertys laughing aloud here. Superb stuff
Goodnight Timland
HH
Delany’s Dunky: Great idea. Will try even harder to get there now. I will try and convince my wee bro to come over as the designated driver:-)
Appropriate.
http://youtu.be/z90z6Z3-gDc
This morning CQN was very interesting. Auldheid had posted and CQNers like Cowiebhoy expressed a view that it might be time to progress with a judicial view re Res 12.
Immiediately the bickering started – I’m not supporting it if he’s involved crap – and the conversation was continued by email.
That’s a pity because thousands of supporters could have read what was discussed and no doubt contributed to the conversation and developed the plan.
When guys like Hamiltontim are personally insulted on CQN there is something amiss. You’d struggle to meet s better man – a Celtic man – anywhere.
The Trust does outstanding work for us and we should be grateful. That’s not to say we can’t point out how we think they could do things better on occasion – indeed I had this very conversation with Hamiltontim over the weekend.
CQNers are privileged to have this place. Collectively it gives us something none would have otherwise and it only works because we are Celtic.
CQN is incredibly influential. Without it Celtic would be more vulnerable. So when you indulge in the sort of behaviour that means we lose guys like BMCUWP and will have to do without East Kilbride weather reporting – not forecasts – then you should know you are weakening CQN and thus damaging Celtic.
And as for Auldheid. Well imagine of a man of that standing decided enough was enough.
The Rangers clubs scandal is coming to a head – maybe in 40 days or maybe later next year we will have to act. Plans are in place and when we need CQNers we need them all. STRONG, TOGETHER and UNREPE
…unrepentant!
Cowiebhoy
When I did my nebosh I think theRe was a 5 way agreement that the rules didn’t apply to Ibrokes
The new wheeze at yon AGM was that Easdales proxy votes were disqualified from voting on the King Switcherooo…
So the actual vote against their board managed to look like a narrow defeat…
but the reality is that it would have been 2 to 1 against them if Easdale’s Proxy votes had not been disq…
Hard to believe that someone could be so dishonest…
(Trembling) according to sources..
Rangers Roof Case – Surely the insurance will cover this…erm Is that like a side letter ?
Alright, it’s Oíche Mhaith” from me too. Off to mo leaba. When I wake up tomorrow, I’ll still be a Tim
UTLR
Cowiebhoy at 9.25, further to your post.
McGregor showed a bit more on Saturday , he placed his shot very well for our first then put in an excellent cross with right foot for Carlton Cole’s header.
A few weeks ago I would ave preferred Aiden Nesbitt on the bench ahead of Calum but fairlay to him ,he has played better than i expected in our last two games.
Which left footed player is the favourite of any posters.
There was some posts late last night about the number of left footers we currently have in our squad and the most some of us can remember ever being regulars for us.
I did post Lubo was my favourite with the best ability with his left foot even though he was right footed. He was followed by Shunsuke Nakamura then our much missec Tommy.
O.G.Rafferty
The Ibrox jokes just write themselves:))
A wee bit of hilarity to quell the rising tide of animosity on here:))
I hope there’s no tae force winds forecast, it’s been quite a howler here in the valley the last few days:))
SP
I realise their board (ex board) have cheated many, their support don’t deserve to be put in danger.
Get a grip.