I think some people have been reading too much into mentions of Rangers owing HMRC up to £75m. For clarity, the big tax case, with penalties and interest, could reach approximately £50m, but that is not the end of the story.
There is the wee tax case, the potential VAT liability relating to the income from Ticketus and VAT due each quarter. Then there is Pay As You Earn (PAYE) and National Insurance (NI). With the lack of financial information from Rangers barring this “£75m” statement, it’s possible VAT, PAYE and NI are delinquent.
Add this lot up and you can easily see why the taxpayer could be looking at a £75m hit, Rangers did not link this figure with the big tax case alone. I’ll leave it up to Craig Whyte’s next interviewers to ask how much of this figure has been incurred under his stewardship.
And remember, we’re only talking about HMRC debt here, don’t forget about the police, Glasgow City Council, utility suppliers and a multitude of small local businesses.
We don’t need no stinkin’ Rangers.
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Been a great day, and well done to Paul67 and all the posters on here this fabulous day, and in fact the last week and a half have been so special.
It’s all coming together.
Dan
Craig Whyte has done in a matter of months what Lawwell has failed to do in years – destroy and bury the Huns : -)
Forgive if this has been posted today
and stolen from LONGTIMeLURKER on rtc
but can we no get the green brigade up to speed for the visit to the zoo
http://www.youtube.com/watch?v=2Z4m4lnjxkY
fritzong
We are not well represented in England by any Scots journo. I heard Talksport today with our very ain Peter Martin stating barefacedly that “the majority of Scottish football fans want Rangers to survive”.
Duffields quote
I wasnt employed by Rangers when he didnt say those things you say he said………
celtic40me says:
13 February, 2012 at 23:41
My apologies mate, your bhoy will know how the mutt felt :-))
Tell all the Huns you know they’ve only got 10 days to go.
Shona Robison is the Sports Minister for Scotland, other than Celtic, the Scottish National Football and Rugby teams, Rangers are the 4th biggest team in Scotland :-), soon to be 44th mind you. She has to be at least seen to be looking at them but as everyone knows.
The Minister for Sport means S.F.A. in political circles. It is a dead end job for a dead end MSP.
You’re as well trying for a peerage.
Nae work tae Thursday Gordy.
12 Bells I’ll be on the sauce the morra.Oh how I’m loving this.
Might order a wee wreath for the few Huns that frequent the Radnor prior to opening time mind ye.
Burnley78 says:,
Those comments will only serve to harden the HMRC/Whitehall view on Independence. For me (selfishly), if they want to use this opportunity to stick it to the hun to weaken the case for independence I’ll take that.
Árd Macha
ernie lynch says:
13 February, 2012 at 23:42
If you had made the insertion “with spectacles” in there somewhere, you could have been referring to Nevin.
owen says:
13 February, 2012 at 23:41
celtic40me says:
13 February, 2012 at 23:33
Have I?
you have, i remember your infrequent posts well enough. has a drink ever tasted better?
from an Aberdeen fan site……I wonder if right now the pope is sitting in the Vatican singing “No Rangers of Glasgow”
Gordon_J
Good to hear.
Need to meet up for a coffee sometime buddy.
MWD
Gordon Smith, well, he’s simply a buffoon, tool, prick, dolt, whatever….
He’s doing a good job.
pigalle
Drop the curtain….
http://i40.tinypic.com/4pttts.jpg
TAL
Tricolour ribbon,
yeah that would be good,especially for the biggest one behind the bar
It’s been a hectic day mi amigos, and there will be many more days like this, next wednesday for example, Ash Wednesday the day the hun go into admin formally, they just keep on giving so the do.
I did a good deed this morning, for a very happy West Brom fan whose boiler burst due to the feckin freezing weather we are having here, and as my Gran always said to me, a good deed will repay you a hundred fold.
I will be free for good deeds from now on :>)
Cultsbhoy
I speak like Craig Whyte. Just ask MWD when next you meet :-))
Sometimes the obvious songs are missed……… you heard it here first!
They’ll be jumpin oot windaes when rangers die, jumpin oot windaes when rangers die….. na na na na, na na na na,na na na na
and we’ll be having a party when rangers die, having a party when rangers die…….. na na na…….
:¬)
V
I also want Fergus back to unfurl the Flag!
Nevin earlier…. Rangers going into admin -morally bankrupt, business wise-spot on…..nice.
You’re kicking my head in and gettin me down
With your bang and your thump and your brow-furrowed frown
On your hate-soiled march in this dirty ould town
As Merula flies on to the next one
We’ve come a long way, standin on the shoulders – not of giants – but of bow-backed, starvin, despised peasants. And I’ve never been prouder of them.
Such peasants gave us this
http://www.youtube.com/watch?v=0LPix1XahV8&context=C35ec57bADOEgsToPDskIpYyTHlDBlx7noFS7Za8XB
Alex Salmond only has one agenda – Independence.
He wants to keep the majority happy. We need to persaude other fans to make the majority demand NO HMRC Surrender to the Huns
The Exiled Tim
Ref last night and Championship Opportunity
There was no media coverage of the opportunity at the time because it was not in the public domain. So you would not have seen anything about it back then.
It was an option which could have been pursued by either party with a good chance of being realised at the time 50/50 (Regan wanted it for Champinoship and Mahwinney wanted concessions for the rump of clubs in the FL).
Neither OF club pursued it, as they thought bigger opportunities might emerge and they were at the height of their Euro position. McLelland was chair of the ‘UEFA Yellow Group’ at the time and he was seeking a range of options to pursue in the interests of large clubs from the ‘below top tier’ countries, but no consolidated proposals with any credible potential emerged from that source subsequently either.
Hoping for an EPL ‘Hail Mary’ was as ambitious as we got.
Get the feeling Celtic fans will not be allowed at final Ibrox game. The Orcs just won’t be able to take the constant abuse and a riot is a certainty in my eyes.
Nice try Cults
But if Peter Lawwell and Dermot Desmond had done what they were advised to do by many critics they could easily have added £10m each season to our spending to try and wrestle with the overspending Rangers.
We too could have been facing pressure to find money to pay bills. As it is we remain £7m in debt- not a great position but not in anyway uncomfortable when smaller clubs like Killie and Aberdeen are deeper in debt without our financial power.
On today, of all days, when nearly 140 years of history was gambled to win them 7 titles since the Advocaat era started to our 6 titles in the same period.
Was that really such a good bargain?
While this has been a great day and a major low point for Rangers,it (the admin) may be Whytes best (only) option to avoid tax bill.
I think it may be possible for him to go into admin,take the hit (10 points etc) and eventually re emerge debt free
Its not beyond the bounds of possibility
Of course its possible that Rangers may cease to exist completely or come back in much weakened state but dont rule out the possibilty of them turning this around.
They have friends in low places remember
Hamilton
As long as you don’t start thinking, acting or looking like him you should be ok :-)
Just back with a wee six pack of IPA.
Today it is not India Pale Ale it is ‘Into Proper Administration’ or maybe even ‘Is Poundland Away’.
HH!
For protestants they don’t do protesting very well.Did you see that feeble effort outside the Dearth Star tonight?Pathetic.The peepil indeed.Or is protesting undignified?Unlike cheating and avoiding your dues.Quintessential lowlifes,may their pain be long and acute.
And so much for”no surrender.”
The chickens are coming home to roost.
Teeheeheeheehee…………………….
http://www.youtube.com/watch?v=LcxYwwIL5zQ&feature=related
FOREVERANDEVER!!!
Well Bhoys.
I’m off tomorrow.
Im going to celebrate by taking the wee man to the GFT to see We Were The People. A historical look at the Neanderthal communities of Glssgow pre 13:00 hours 13th February 2012.
MWD
well its taken me all night to read the whole blog from today and now its time for sleep.
thanks to all for the posts today , must admit it was hard work with so many but its been a good blog day.
i am so happy that tomorrow is another day and that i will wake up knowing that my team is still in control of their own finances.
proud to be a celt
goodnight everyone
Evening gents
I nearly felt sorry for one of them earlier, then I remembered how they acted in the 90’s!!
Reap what you sow
Loureedcsc
HH
Get The Bunnet back for Flag Day
The Spirit of Arthur Lee says:
13 February, 2012 at 23:38
Stornoway Black Pudding…:)
Vmhan Supporting Lenny! …. Celebrations! says:
13 February, 2012 at 23:45
You and Derryghirl sober?
Fatbhoycfc
Keep the Faith!
Hail Hail!
Paul McC @ 10:01 – thanks for posting the link to the wordpress article
http://scotslawthoughts.wordpress.com/2012/02/13/rangers-administration-cva-nae-chance/
If you haven’t already – read this article thoroughly. Brilliantly written, crammed full of facts and informed analysis (in complete contrast to the drivel being punted by the old media)
I’ve been thinking about the immediate effects of the administration event. It doesn’t look good for certain players.
For example, I confidently predict that Daniel Cousin will make no more than 2 appearances (if any) before his contract is cancelled.
Anyone whose contract ends this summer will immediately be shown the door – to an administrator these players have no value and are a drain on resources. The administrator has the legal right to cancel a contract without notice. Bye Bye David Healy.
In terms of the more influential players – I do not know the contractual position of, for example, Maurice Edu or Lee McCulloch. However if their deals run out this summer they will be gone. If truth be told, I have some genuine sympathy ………….. for Maurice Edu.
For those players who contracts run out in summer 2013, this is where it gets interesting. They still have book value and the administrator will try to sell them during the summer of 2012. However, their agents will be hawking them BIG TIME before then. All rules about tapping and gentlemen’s agreements tend to be ignored in these circumstances. Agents will probably have the leeway to virtually conclude a deal (including transfer fee) and present to the administrator as a virtual fait accompli.
Remember – the administrator will not be interested in any macho poker playing BS a la David Murray.
Is someone offers £1million for an asset some think is worth £2million but is costing the business £100k per month then that asset will be sold.
Creditors don’t like waiting for the promises of untold riches to be delivered at 23:59 on 31st August.
Interesting times ahead.
It must be all of four years since I posted on CQN that the destruction of Rangers was never going to be a Pompeii ; it was always going to be a Rome.
This is the beginning of the end. So lets be safe out there !!!
Hail Hail