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.
If you would like to read CQN Magazine online (for free), click here. You can download a pdf of the magazine using the button at the top of the page, second from the right. Click on the link below to order a hard copy of the magazine.
You can support the online edition by making a discretionary donation here.
835 Comments- Pages:
- «
- 1
- ...
- 15
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- »
Another interesting take on this perfect storm, is what players will the Administrator let go first?
Cousin will be lucky to play more than 1 game before he is dumped, Papac has 3 months left on his deal, Elbows, Lafferty, Bentfoot + Edu have 1 season left after this one
Will they be the first bunch of players let go? What Hun team if any, will we be up against on March 25th?
There is a great boardgame idea in there somewhere
I don’t post often ,I find other people seem to contribute far more eloquently than I ever could. But I want to lay my thoughts down.
I am delighted the end game has started The Tax Dodgers are an odious organization and their fans are on the whole are bigoted lowlifes, I hope the club goes out of business .The fight the Orcs are having now seems to be over who is to blame is it Whyte was it Murray Its HMRC’S fault. Nonsense in my opinion those to blane are the Orcish hordes who delighted in the big spending,gloried in the trophies they cheated to win .The Orc were happy with the spending policies of the past as long as someone else paid the bill whether this was Murray , Whyte or you and me in the case of the tax avoidance, however when they were asked to put up their own money in the case of the share issue they to a man were loyal…….to their own pockets and refused to stump up…….Murray under writ them to the tune of £60 million. The tax payer supported them to the tune of £75 million and the Orcs paid nothing well let them rot now .
Hello guys on this wonderful morning.
Last week i had posted that i had been to see the Average White Band with friends. One of the friends was Dundee born singer songwriter Michael Marra, who sung a fantastic song about our very own Gil Heron ( Gil Scott’s father ) who played with us in the early 50’s…. i’m sure you all knew that anyway. I have been trying to get some youtube footage of this song, but dont think it exists. However i called a favour from my sister, who knows him through Dundee rep theatre and he has kindly e-mailed the words.
Have a read and enjoy.
Hopefully, we’ll get some footage in the future.
Flight of the Heron
For Gil Heron, the first black professional footballer in Scotland and father of Gil Scott-Heron the great American poet and visionary.
When Duke was in the Lebanon
Groovin’ for the human race
Gil flew high in the western sky
On a mission full of style and grace
From Jamaica to the Kingston Bridge
He was inclined to roam
Drawn to the flame of the beautiful game
Here was a brother who would not stay home
Chorus
Higher, raise the bar higher
He made his way across the sea
So that all men could brothers be
When Miles was on the jukebox
And Monk was on the air
Gil crossed the ocean to the other side
To play for Celtic with a noble stride
The Arrow flew, he’s flying yet
His aim is true so we don’t forget
What it means when his name we hear
The hopes and dreams of every pioneer
Chorus
Higher, raise the bar higher
He made his way across the sea
So that all men could brothers be
PC67
so they have cheated and used Scottish society to protect them from years. Only when they took on their beloved crown where they brought to their knees.
Yet even now the poodles in the LL are willing to peddle lies for whatever side they have picked in the oncoming civil war.
STV run a story about Murray buying them back. A company he sold for a pound and is worth less now. A story that took RTC all of half an hour to shoot holes through. Why did STV when they had a chance to talk to Johnston to ask the question what information he was party to when at last years agm he stated that they were confident of winning tax case. The facts of which haven’t changed but now accepted that tey will lose.
Why don’t editors talk to their reporters who were willing to peddle less than 2 months ago that there was a deal to be done with HMRC for £6M, that Jellylegs would be sold for £10M just days before he went for less than half?
Denial is now old hat. Stories now to be based on why they should get back into SPL for the good of Scottish football. We must remain vigilant.
We must, however, continue to party.
Has the Saint Valentine’s Day massacre happened over Govan way yet?
Lots of Love and Kisses
Now, can someone explain why Naismith, Davis and others thought it was a good idea to sign 5 year contracts?
Were there agents in denial too?
Do they not see the signs?
Did they just think they might get another year on better pay and then feck off when the fan was hit by the brown stuff?
My own bet? Just plain stupid. Didn’t want to see the truth. Agents get their big fee for them signing on and will get another one when their player goes to the Championship so it isn’t in their interests to convince their clients of the truth.
And isn’t Fraser Wishart a tube?
Some say he has managed to get Spiers to stop bubbling
but that he could do nothing for Jabba
All we know is he’s Victor Wanyama.
I see Spiers is blaming Murray for the mess his club is in.
Every single Orc has had a part to play in this, I seem to remember the “We deserve Better” campaign not too long ago.
They are in this position because their support demanded the big cup, 9 in a row and to not go through what we had to endure in the 90’s, Murray merely played to the “People”
They deserve everything they get and if this government intervenes to help them I hope every Celtic fan uses their next vote accordingly.
Jelly and Ice Cream is going down rather well.
Hail Hail
Nothing, not even the huns going away could ever dilute this…
Celtic FC – When Saturday Comes
I HATE CLYDE SSB!
Just listened to last nights show,its an absolute DISGRACE how they are patronizing Celtic fans who are paying good money to phone them,a more odious,disingenuous individual in Hugh Keevins you will not find.
I wish Celtic fans phoning would make the point that the huns would only be away from the spl for 3 seasons as they would climb back easily,I wish somebody would pull Speirs up for using the phrase ‘if I was a rangers fan’ He IS a rangers fan and I wish somebody would say to them that’s its their job to be researching ways into how the league could cope after natural justice has been served.
I won’t be listening to their programme again,BFDJ got removed for much the same as how Hugh is treating Celtic fans.
If you bhoys thought yesterday was good you are going to explode a week on Friday.
Get on eBay, buy old Huns strips because we are going to have a 5 Star Unpicking ceremony
Yee Ha!
Radio Shortbread been hilarious this morning.
A massive congrats to callers Peter and Teresa who tore Bull Lackie a new one. But most of well done Lackie for making another total show of yourself. I suspect that may be the last time you will benefit from a radio appearance for some time…you need to be a bit more smooth than that if you want to get paid to play the hun rescue propaganda game.
The propaganda is in full flow. One of the conclusions so far: TBB might still turn things around- apparently, he “certainly has experience in turning around businesses in this situation”.
Caller Peter made some excellent points and displayed a knowledge of Scottish football history thast had the the rest of them squirming and resulted in him being prematurely cut off. Teresa also cut off without a thank you for her call.
I hope they keep their entire squad until the end of the season plus Cousin. When we pump them at the bigot dome there should be no excuses. When they come to Celtic park for the return leg of the pumping there should be no excuses.
When I saw their line up against Dunfermline it filled me with confidence. Dunfermline as it turns out are at the bottom of the league for a very good reason. The word Gash was invented for them.
But the team the Orcs put out at the weekend should be no match for us.
In fact if they had to fill their team with youngsters against us I’d be more worried – young players fear less, they play with more abandon and without the restraint of those coached in the ways of Walter may actually prove a tricky proposition.
Give me McCulloch up front with Cousin. Give me Kyle Bartley at right back (or Bentfoot, I’m not bothered really) Give me Bocanegra and Goian. Give me Edu in central midfield.
Bring them on.
crying huns
http://player.stv.tv/programmes/scotland-tonight/2012-02-13-2230/
DailyReckless reports Whyte
“He has also said he’d be prepared to pay the club’s creditors 100p in the pound – but not the taxman even though Whyte said in a statement he wants HMRC to come to a deal which would suit Rangers.”
I am an honourable man and I wish only to screw the taxpayer.
RT-I think their agents(who rarely miss a trick)might have clauses inserted,which may make their clients free agents if they miss a payday.:}
I feel sorry for the small business owners (Hun pub landlords excluded) around the HUNbowel who rely on a bi monthly game to subsidise their business.
Other than that. GIRFUT one and all.
MWD
twists n turns says:
14 February, 2012 at 08:14
Newsflash from Buddy can you spare a dime FC.
———————————————————-
“Simply the best” shall be replaced by “I don’t like Mondays” with immediate effect.
“There’s not a team like the Glasgow Rangers” will become ” There’s not a team called The Glasgow Rangers”
“Penny Arcade” too be replaced by “Money’s too tight to mention”
“Follow Follow” to be extended to “Follow Follow we will follow Third Lanark”
I shall be in Scotland next month and hopefully if all goes to plan I may be able to spend 30 secs teaching my grandchildren the history of RFC.
Is gloating bad? I only ask cos it is making me feel 30 years younger
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The amount of gloating you’re allowed to undertake is in direct proportion to the amount of crap you’ve had to put up with over the years,multiplied by the number of richly-deserving huns in your vicinity.
For the avoidance of confusion,these factors may be either real or imagined…..
Divitbhoy says:
14 February, 2012 at 09:44
I see Spiers is blaming Murray for the mess his club is in.
Every single Orc has had a part to play in this, I seem to remember the “We deserve Better” campaign not too long ago.
__
Not to mention their very deep pockets when it came to the share issue murray tried and which cost him around £50m (pockets in the trousers of a typical rangers tracky are so deep their hands couldn’t reach the holes at the bottom that all their spending cash had suddenly fallen out of) . It’s been downhill since then for murray, MI and rangers. I think he was personnally offended and obsessed about that. All he wanted when he sold rangers was his £50m back. only £49,999,999.00 to go.
Lennon n McMjallby – correct sir. They should be pointing to well run clubs like Hibs potentially benefiting from this scenario. They should be talking up DUFC and Aberdeen both of whom could if they get their acts together make themselves decent clubs again. They could be expounding the virtue of a bigger league (possibly, less likely now that they will all be relying on only Celtic bringing in bigger crowds twice a season.
Justice must be served. The new club that emerges – and lets keep focussed on this, it will not be Rangers 1873 – must serve it’s time and work through the ranks. 3 or 4 years in the wilderness is the least they deserve and the most they will get. Could we get them a year or two in the Juniors as well???
Right, to work.
Fortunes Favour Mibbes
“One of the conclusions so far: TBB might still turn things around- apparently, he “certainly has experience in turning around businesses in this situation”.
Can I be quite clear here: While I do have some of the experience you refer to, no one has yet had the courtesy to give me a call….
TBB
How much have they wasted?
ENIC – £40m
HMRC – £75m + (according to White)
NTL – £14m
Murray Share Issue – £60m
Thats £189m at least
They are effin morons!!!!
Will suppliers to rangers keep supplying them? What is a match day going to look like? Will stewarding companies still turn up? What about Police costs? What about the electric for floodlights and stadium concourses? What if toilets should flood? What if they canny pony up the money for their supporters tickets for paradise (if they still exist) in April?
Work this time…….
There is copious amounts of evidence in the business history of the MBB regarding him inflicting Insolvency Events on distressed companies. Can anyone provide a single case where he brought said business back to health?
Anyone?
Bueller?
TBB
If you are contacted please just increase the frequency of their spin.
MWD
All Polish media inform today that Glasgow Rangers are finished.
So, do the other media in this part of Europe.
I can’t understand full context of your joy but the song that came to my mind was Redemption Song. Best ever cover.
Angelique Kidjo – Redemption Song
RogueLeader says:
14 February, 2012 at 09:47
Spill-:)
I’m not going to get any work done today again. Hurry up Rangers and die.
Árd Macha
Strathclyde police looking for guys to work for free on Saturday.
Can’t guarantee payment from the skintodome!
LB
RogueLeader says:
14 February, 2012 at 09:37
An administrator has a legal responsibility not to make the position of creditors worse. They are not allowed to incur costs if they do not feel those costs can be repaid.
It will be very interesting to see the view an administrator may take in whether or not they can legally hold a game at Ibrox on Saturday considering the costs involved in doing so, particularly if there is zero cash in the bank account.
+++++
If the game does go ahead, it will be a fantastic barometer of where they go from here…
Will the orc support volunteer to pay at the gate en masse, ST holders included?
Will they organise the proverbial cash buckets?
Will they disappear, as I suspect they will, in their droves?
Will they expect someone else to do everything for them?
I think that the answer can be found by looking at their recent history with regards ‘what the fans have actually done’: erm, nothing.
The Rangers fans are true dreamers, caught up and sucked in by the tales of super casinos and £700m stadiums, purchasing Marc Overmars, Ronaldo, Alan Shearer with nary a question asked as to why none of these things happened. No, instead they waited for the next dream to come along, happy with such an imagined existence that no action was ever required – the back pages of the Sun and the Daily Record would provide all the sustenance they would need to get them through the day, i.e. they could get it right up Timmy with such stories.
With their heads firmly in the clouds, as well buried in the sand, they were unaware of the madness unfolding around them and still remain blithely unaware of that which is about to occur – they will shuffle their feet, asking questions of the wrong People but little thought will be given as to what they can do for their club, other than perhaps organise a symbolic march of four young men dressed in 1870s regalia to the front door (as hilarious as it sounds, this has actually been mooted).
With their reliance on dreams and symbolic gestures, they’ll find soon enough, upon awakening, that the time for action has long since passed.
Fiddling while Rome burns springs to mind. How apt.
greenjedi says:
14 February, 2012 at 09:56
How much have they wasted?
ENIC – £40m
HMRC – £75m + (according to White)
NTL – £14m
Murray Share Issue – £60m
Thats £189m at least
They are effin morons!!!!
at all our expense too
they are worse than bankers
Rogueleader
Yes.
Erm.
No.
Erm.
It doesn’t matter. He is a Motherwell Born Billionaire who supported Rangers as a boy. He’s not in this for the destruction. He’s in it for the passion and the emotional attachment.
I hear he is building his new castle on the dark side of the moon.
MWD
The odious Leckie on shortbread this morning claiming to have been some kind of John the Baptist, wanderin’ through the desert of Scottish football reporting, wailin’ and tearin’ his beard as he predicted years ago penury for the NoPopePaupers.
Not strictly my recollection, as the default position then [ and possibly still now..] was on no account to upset Sir David in case the succulent lamb gravy train dried up.
Anyways, to cap a lovely ole Valentine’s Day, Sky Atlantic is showin’ the brilliant ‘Friday Night Lights’ at 8pm tonight, from the first series on.
Clear Eyes, Full Hearts, Can’t Lose
Possibly the greatest thread ever has been started on FF. World class bear on bear action; it is called :
“The most gullable support in the UK”
The OP (a poster with 22000 posts so isnt being called a Timmy) states:
================================================================
Since November 1987 we´ve been bending over and we show no signs of changing, even when our club will most probably cease to exist shortly.
“He must have a plan”
“benefit of the doubt”
“he stepped up to the plate”
“whats the alternative”
“he´s a shrewd man of business..”
What´s needed is more of a critical eye from day one.
Not just to listen to the rhetoric, think of warchests and newspaper headlines and ly back comfortably.
And when some do actually question things, not to shoot them down as if they´re the ones that are harming the club.
Whether people listen to me is a moot point but I´d advise you to at least listen carefully to what Deedle has to say, not only has he been active with regard to supporters groups but because I don´t know a better anaylist of events on FF.
================================================================
Glorious
In other news Livingston may get a few more of my schekels in the future.
First Division Livingston will announce on Tuesday that former Falkirk and Hibernian boss John Hughes is their new manager, BBC Scotland has learned.
He will be joined by another former Easter Road manager, John Collins, who will become director of football.
A formal announcement is expected to be made at their West Lothian stadium at a media conference at 1230 GMT.
LB
Paul67
cant find that legal precedent ….. my poor memory or over active imagination ?
I´ll keep looking
Hail Hail
David Gold @DavidGoldWHU
Reply RetweetedRetweet
Delete
FavoritedFavorite · Close Open Details Is it cheating when a club doesn’t pay it’s bills & uses the money to buy a player who scores the winning goal against a club that does. DG
Seems strange that an owner of an English club has come out with this statement, I wonder who he is refering to, HAHA, HAHA
An oldie… and still a classic… every Tim should be whistling this at work today !!!
http://www.youtube.com/watch?v=WlBiLNN1NhQ
fleagle1888
Author: Chris Alexander
You may have recently read my blog articles about the JJB Sports PLC’s Company Voluntary Arrangement (“CVA”) which was approved on 22 March. If you haven’t then you can read my most recent blog article here.
JJB persuaded its creditors and shareholders that it was better to lose 75% of what they were owed in a CVA rather than the predicted 99% in an administration. Oddbins were treading a similar path, advised by Deloitte. Its proposal meant creditors would recover 21p in the pound over 46 months but it has been reported that HMRC vetoed the CVA after 10 days of talks, meaning that only 68% of creditors were in favour, 7 percent below the required 75% threshold. HMRC is believed to have been owed in the region of £8 million but the predictions in the press are that the return from the administration will be only 5-7p in the pound at best.
Oddbins now joins Unwins and First Quench (Threshers and Wine Rack) as victims of the recession and the squeeze on margins brought about by competition from the supermarkets.
Mind you, it’s not all bad news for Deloitte, even though the CVA it drew up failed, it is due to be appointed on Oddbin’s subsequent Administration. With no pre-pack it will be a bumper few months of fees for the administrator. One of the first things the Administrator will want to investigate is why Oddbins is owed £17 million by a company controlled by former directors!
Hail Hail