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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HMRC is helpful enough to publish how it deals with CVA’s.
It doesn’t look good for Mr Whyte and Rangers in light of that.
Of course his highly paid insolvency advisers and the MSP’s, together with Lord Sugar, might persuade the tax man to go against his stated policies…or maybe not.
http://scotslawthoughts.wordpress.com/2012/02/13/rangers-administration-cva-nae-chance/
Wot the difference between Whitney Houston and rangers ? …… Whitney didn’t go down the plughole !
gorbalstam says:
13 February, 2012 at 22:00
did that come from a guy passing in an ice cream van?
Great article, well said Paul
” We don’t need no stinkin’ Rangers ”
And stink they do…..too the high heavens!
Hail hail
MME
Someone was reporting earlier that the loyal servants of the club have already approached the PFA in case their pay dries up. I hope it doesn’t affect their performance on Saturday.
LIFTED FROM RANGERS RUMOURS
13 Feb 2012 20:51:29
In admin within two weeks, out again by the end of March so that we can get our UEFA licence.
HMRC have stated their intentions to appeal till the cows come home if we win so we have been left with no choice bit to take these steps.
——————————————————————————–
Some background music for the do
http://www.youtube.com/watch?v=LZBPu7jJbJU
Mullet and Co says:
13 February, 2012 at 22:01
Dearie me.
MadMitch
So we became DU/Killie & Well on 8/6/08.
Were we still at that level when we got Robbie Keane et al in Jan/ Feb 2009? I don’t remember them having players of that calibre at the time. I don’t recall any of these clubs having spent above 250k on a player during the period 2008-12. You sure that is not just a very stretched and unsustainable comparison?
I can agree with your statement:-
“We are at best player traders and at worst when we have no CL / EuL money we are player sellers.”
That makes us just like Porto, Ajax,Lyon & Benfica. Not quite the jab you wanted to land. Until clubs like ours can get the TV subsidies that currently bigger clubs in bigger leagues enjoy, it will be futile and simplistic to blame any human for our inability to gain access to the top table.
It’s a great day to be a Tim.. Hail Hail
Been offline for a wee while.
Have I missed anything?
Vmhan Supporting Lenny! …. Celebrations! says:
13 February, 2012 at 21:42
tommytwiststommyturns says:
13 February, 2012 at 21:32
**************************
I had that same conversation with wee Derryghirl, it was 3yrs ago on CQN that it was mentioned and the figure was £70 odd million, it sure did take a while for the media professionals to catch on…… about 3yrs, perhaps it was denial?
V
HH T4
Pigall, best line of the day. Get sharing that one, people.
Mullet & co, indeed.
starry plough, cheers to that.
Mark’s Eyeliner, it has a ring to it.
I know posters might fid it difficult to pick out highlights in trying to keep up with the blog today But I particularly enjoyed tully 57 at 16.16 today
Thems going bust fair takes it out of you.
I wonder what we’ll talk about tomorrow ?
Surely the MBB is not a crook, naw surely not………
No ?
BTW, how’s the Ibrox vigil going ?
They can’t be using candles, can they, that’s just soooo wrong :0)
pigalle
The Battered Bunnet says:
13 February, 2012 at 22:03
Aye Paul67s shares in ice cream and jelly have reached an all time high
Paul67: “We don’t need no stinkin’ Rangers”.
Agreed, but how do we achieve their full and final demise ?
But more importantly, how do we ensure when the wee jobby floats back to the surface that they face continuous flushes to the third division ?
Syphilis 1918 Gonorrhoea 1944 Polio 1952 Rangers 2012 Eventually they find a cure for every disease
kentbeth says:
13 February, 2012 at 22:03
It’s a great day to be a Tim.. Hail Hail
All days are great to be a tim, the alternative is to get knocked back for tic on a loaf.
Tonight I’m thinking of the camel-coated establishment looking figure who laughed in a 14 yr old boy’s face outside Hampden after Syme won them the league cup. You can imagine the language he used as I waited to defiantly cheer the Bhoys onto the bus.
Sweet!
Che says:
13 February, 2012 at 22:01
Aye, one of his main creditors apparently.
Just back from evening meeting…missing all these scoops…£75m!!!
…will Xmas never end!!
Paulmcc
are we still looking at March for news on the FTT tribunal outcome ?
Mullet and Co says:
13 February, 2012 at 22:01
I would imagine that many posters received that joke by text. This certainly isn’t the place for it mate.
Ulster Celt
Hilarious.
What a glaikit clown.
Thanks.
HH.
gorbalstam says:
13 February, 2012 at 22:06
Che says:
13 February, 2012 at 22:01
Aye, one of his main creditors apparently.
wizny one of the cohen brohers was it?
Thinking about it the greatest thing about today for me is the fact the Neil and the Young Lions had gone on a great run to storm back to the top of the league before the govan dodgers had to file…
Yes Celtic the gift that keeps giving and giving..
I’ve already emailed the following to Sports Minister Shona Robinson (ministerforcommonwealthgamesandsport@scotland.gsi.gov)
Dear Shona,
I am writing to you following your comments quoted on the Scotsman website regarding Rangers FC v HMRC (http://www.scotsman.com/news/scottish-news/top-stories/rangers_fc_signals_intention_to_go_into_administration_1_2114762:
“I understand that Rangers and HMRC are continuing dialogue and we obviously want to see an agreement which will protect jobs and enable the club to stay in business. Rangers is a crucial part of Scotland’s national game, and our interest is ensuring that a resolution can be arrived at between HMRC and the club to deliver these vital objectives”.
While I agree that it is important to protect jobs, it is also important that individuals and corporations pay their taxes. After all, jobs and services are put at risk every time an individual or corporation evades paying their taxes.
I’m not at all convinced that you have indicated that Rangers should pay what they are due. You are giving the impression that the most important thing is that they survive.
Now the Scotsman may well have misquoted you or taken what you said out of context, so can you tell me what your viewpoint is if HMRC are successful in proving that Rangers FC have underpaid Tax and NIC?
I think it is vital that we all make our politicians know how we feel. Everyone and every corporation has a duty to pay all taxes due. Make sure Shona Robison and other politicians know how we feel.
Ernie
I have it on good authority they owe GCC a fortune in rates
HH
they owe the cup gate exit money to dundee united £100,000
ErnieL – Last Thread
The TFOD dying on his watch is Wee Eck’s biggest nightmare.
I fear a lifeboat is being organised as we speak.
Interesting to see how this all turns out.
You have to wonder what line of excuses will be used to justify blatant financial doping?
‘McCann is also about to test the much-vaunted passion for the club which is said to permeate a vast but recently absent support.’
We passed the test and all others since. They call themselves ‘The People’, but they have sat by and watched the last couple of years stating it is a ‘Fenian Conspiracy’ and it could not happen to ‘Rangers’, well it has and there is NO McCann and NO support with money…
Celtic’s new boys set to face testing times ahead
Scotland on Sunday 06/03/1994
FOOTBALL OPINION By Kevin McCarra
CELTIC must now adapt to normality.
It will be an eerie experience at a club where the bizarre has been routine for many years. If the new proprietor, Fergus McCann goes about his business effectively the average fan will be shorn of conversation. A stadium with added seats and a boardroom minus strife hardly provoke animated discussion.
McCann’s plans will attract scrutiny, but attention must also now be spared for other aspects of the club. A life without excuses stretches before Celtic. It was hard to attack the funereal tone of the side when the club itself was dying. From now on, though, those mitigating circumstances have been removed. If the performances still lack panache the blame will lie with the players, some of whom were expensive purchases.
The relationship between team and manager is also certain to attract careful appraisal. It has so far proved impossible to pass any significant judgement regarding Lou Macari’s work at Celtic Park. Given stable circumstances, however, his employers will expect progress. He, of course, was not Fergus McCann’s appointment. Enquiries about Macari’s job security met with neither an endorsement nor a threat, simply a cautious reply. ”That,” said Brian Dempsey, ”doesn’t come into the question at this time.” McCann is also about to test the much-vaunted passion for the club which is said to permeate a vast but recently absent support. The all-important question is: just what numbers will turn up to cheer in future once the initial rapture is over?
The financial crisis which continues to face Celtic will only be resolved by the most intense degree of support from the paying public. The new director Dominic Keane estimates that as much as 40m of income, whether from investment, sponsorship or other activities, is required over the next two years to seriously begin the rebuilding of club, team and stadium. The Cambuslang project is certain to be ditched and Celtic will have to pursue the tiresome old routine of spending their own money to create a satisfactory ground. The club needs to boom if it is even to make satisfactory progress.
At present the turnover stands at 9m, less than half that of Rangers. McCann is peeved by the degree of decline and hinted that he blames the Bank of Scotland for delaying the action they belatedly took this week.
”They have been aware since November,” he said, ”that our money was in place.
”I will be looking into this. We are going to have discussions with the bank and there are some hard decisions to be made.”
Keane fended off the suggestion that the Bank of Scotland had been guilty of no more than generosity to the previous regime: ”They have a duty not only to the directors but also to all shareholders.”
McCann seems aggrieved he had to abandon his previous policy and compensate directors to secure their removal. He argues that the ”shotgun situation” which forced him to cut a deal as the bank threatened to put Celtic into receivership could have been avoided by earlier action.
McCann must marshall his forces as he confronts the many problems. The current board can only be an interim arrangement and there must, in particular, be questioning of Kevin Kelly’s position as chairman. He did show a true devotion to the club by turning down some 500,000 from Gerald Weisfeld so that he could hold on to his shares and support McCann. Still there must be disquiet over a chairman who did not become aware of his club’s true financial difficulties until the verge of bankruptcy was reached.
Despite the concerns a little jubilation still showed through McCann’s jet-lag as he set out for Perth yesterday. The new chief executive demonstrated considerable courage in lavishing money on so debt-ridden a club. It remains to be seen whether he can elicit an equally fervent response from those supporters who are about to share some tricky times with him.
bournesouprecipe says:
13 February, 2012 at 21:57
Laughs like Mutley and rolls eyes..
GOOOOOOD evening folks, just in from the boozer after hearing the news….WE ARE HERE!! serving notice of administration is just the procedure that must be followed before evereything else follows on..don ‘t let anyone say different!
The building sit I was working on today emptied quick smart once the rumour got around….My good friend asked all those grieving on the phone ” ARE YOUS STILL GETTING COUSIN THEN?!?
Once in the pub I recieved a message from my dad….” the tax bill they face could be 75Million!”,…..does this get any better? was my reply.
My other friend wee stevey let me know he was cracking a bottle of moet he has saved…
As for peter Lawwell,….absolutely 100% spot on.Our sentiments exactly!
ASonOfDan says:
13 February, 2012 at 22:09
For whatever reason just had a visual image of wee Fergus laughing there
“Not one thin dime”
could be the motto for newhunco
Vmhan – hope you and M are having a celebratory drink tonight mate. We’ll all have fried livers as this story still has some way to go!
HH
TTTT
Here’s my subtle re-working of their Supremacist Anthem
Get the drums goin in yer head, Tina oan the mic !!!
YER SIMPLY GAUN BUST !!
Don’t want ye
Don’t need ye
Yer fans are dire
DOOMED. DOOMED.
DOOMED. DOOMED.
We laugh as we listen
Our hearts on fire
DOOMED. DOOMED.
DOOMED. DOOMED.
Yer oan yer knees
Breathe yer last and expire please…..
Ye gave us a lifetime of bigotry
A sectarian stain
DOOMED. DOOMED.
DOOMED. DOOMED.
Now we’re pi**ing oan the grave tonight
Of Scotlands shame.
DOOMED. DOOMED.
DOOMED. DOOMED.
Oooohhh, you said we’re wrong
But we bel – ie- ved in Phil Mac Ghiolla Bhain
boom boom boom
Yer Simply Gaun Bust !!!
TJ
and still the natives remain with head buried in sand (from ff)
Is Today’s intention to go into administration
A nail in our coffin? 16.52%
The first step to recovery? 83.48%