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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The huns have been ‘living the dream’ (copyright Peter Risdale).
They are now making our dreams come true.
Árd Macha
Paul,
Your pivotal role in the downfall of the odious empire is historic. We’ll come back to that when the final act concludes.
In the meantime, I haven’t seen the media mention the other £50million the taxpayer has probably contributed to Murray’s years of cheating. Remember the failed rights issue which MIH underwrote? This sum was added to MIH’s almost £1billion debt with BoS, passed to Lloyds (87% state owned)and now almost certainly written off.
In other words, for every tenner Murray spent of that £50million, you and I contributed £8.70.
Or £43.5 million. Plus Craigy’s £75million estimate =£118.5million.
My Dundee United supporting mate told me last night that United have not received their share of the Scottish Cup money from last week. Is that true? £100,000 was the figure quoted (which makes sense).
JJ
Tressel
They should at least be discussing keeping the Celtic-hun games in some other format if losing them is supposed to ‘diminish the excitement of Celtic for Celtic fans’
It boils my blood they won’t even utter the idea of a cup competition that involves the 2 clubs with the absence of the huns for 3 seasons.
http://www.companyrescue.co.uk/company-rescue/guides/hmrc-and-the-cva-process
We have heard that HMRC will not support a CVA?”
This is not true!
Just because the HMRC rejected the CVA proposal put forward by Oddbins not that long ago does not mean that they have had any change in policy.
They will approve a CVA if it is a properly structured, a well thought through plan and the company has been compliant with tax rules in the past. In their recent guidelines published at http://www.hmrc.gov.uk/helpsheets/vas-factsheet.pdf they set our their policy. MMmmmmmmmhhhhhhhhhhhh……………
The HMRC agency that decided on these proposals is called the Combined Voluntary Arrangement Service (VAS). Currently it votes in favour of c70% of all proposals. However, we have a >90% approval record.
Once a CVA is proposed the enforcement agency of the HMRC is no longer involved and have no say over whether a proposal is accepted or rejected. In essence the job of the enforcement agency is to collect 100% of the tax owed. If this is simply not possible then responsibility passes to the VAS.
The HMRC are keen to support VIABLE businesses as they see it as a way of reducing lost tax.
However, it should be noted that if you do propose a CVA then you should try and pay as much tax as you can prior to the creditors meeting. It is common sense really as if you are asking for their support then you need to be seen to be doing the utmost in persuading them your business is viable and that you will pay any tax owed in the future. We will of course advise on this aspect as and when we draw up a CVA proposal.
HAil Hail
greenjedi-There will be bodies buried everywhere mate,the Club Deck mob are owed £7.7 mil,are they not?
Chugs
Leave Billy Leckie alone. He’s a St Mirren fan.
MWD
Ciao—–
Cold and wet ——way down south.
Amidst my delight at yesterday’s news and thoughts that the best is yet to come – my mind turned to this .
Glasgow -late 1980’S —- Murray and Souness beginning their thing —– being astounded of forehead to learn that a big Rangers man I knew had stopped going . His reasons — I paraphrase —– Those 2 will destroy the Club . A egomaniac conman and an egomaniac narcissist with a win at all costs mentality . They are turning the club into a parody of itself by pandering to the supremacist /bigot pound..It will all come crashing down.
Wonder what he thought yesterday ?
For every fiver you spend on Ice Cream – i’ll spend a tenner on Jelly.
Tattoo removal laser franchise for sale, going to male a killing soon, get in early :oD
Former Woolworths workers ‘get £67m compensation’
The shopworkers union Usdaw has said it has won compensation of up to £67m for more than 24,000 former Woolworths workers, made redundant when the retailer collapsed at the end of 2008.
Usdaw went to the Employment Tribunal, claiming the administrators had failed in their legal duty to consult with the union before making redundancies.
That tribunal has now awarded Usdaw members 60 days’ pay.
The award was the maximum payable in these circumstances.
Usdaw noted that as Woolworths was in administration at the time of the redundancies, responsibility for the compensation payments will rest with the taxpayer, through the government’s Redundancy Payments Office (RPO).
The government said that the RPO would now determine who was eligible to receive the award, and all eligible claimants would receive their claim forms by the end of February.
Usdaw said that the compensation award would not apply to 3,000 former employees who worked in smaller stores where fewer than 20 redundancies were made.
“My delight at the award for the vast majority of our members is tempered by the clear injustice that workers in smaller stores could miss out,” Usdaw general secretary John Hannett said.
“Usdaw thinks that the UK’s current interpretation of the law on collective redundancies is both unfair and possibly a breach of the European Directive which seeks to protect workers in large-scale redundancy situations.
“We are taking further expert legal advice and it is highly likely we will appeal against this part of the judgement.”
———————————————————————————————————-
Wouldn´t this apply to the huns too
WIll HMRC have to pay for Hun employee redunancies ?
Jee-zoh,there’s a few hurtin’ huns in my telephone memory.
And they’re ALL clutching at straws. Mainly through ignorance of the procedures involved.
Here’s two examples.
Some lawyer on SKY said they just have to do a Leeds and HMRC won’t be able to do anything about it. WRONG-HMRC will have over 25% of the debt,which wasn’t the case with Leeds.
Seems Arsenal owed £40m,and only paid £6.5m.
WRONG-Arsenal’s EBT was £25m,tax due of £10m. Arsenal agreed the scheme may have been wrongly applied,and were therefore allowed to negotiate a settlement. The huns dug in.
The rest of the texts have been from peepil with their bumcheeks in the air,waiting to be kicked by an unseen assailant.
Unseen,because their eyes,like the rest of their collective heads,are covered in sand.
When WILL it kick in with this lot?
I can quite understand the gloating, it is football after all. But the hate factor is hard to take, especially for the reasonable fan on both sides of the divide.
The knock on effects for Scottish Football will be severe, and it will reach Parkhead.
Hearts will get a pittance now in settlement for Wallace, they could go on Thursday. Dundee Utd , another club, with severe problems will not get their cup money. The SPL is a house of cards ready to collapse.
Football needs rivalry and competition, you will tire of jelly and ice cream quickly.
Mark my words.
So Awe Naw
You are finding precedent that states that CVA’s are something HMRC will comply with under strict criteria set out by them but in the HUNS case they are still f… erm (it’s not looking good).
MWD diddums
Sky guy ripping into BFDJ on SSN
“Effectively Derek, Rangers bought players with taxpayers money”
Superb
Twoooothhhhh hingy number hing
Boooooooooo hoooooooooo ya muppet.
MWD
Just listening to last night Clyde.
The phrase that comes to mind is ‘Planet Keevins’.
Does anyone know a Hun who IS reasonable?
It’s Celtic Park, not Parkhead.
One other thing twoothless
Who will go down in history as being the dignified club who brought Scittish football to its knees if the situation you foretell arises.
You, your mum, your dad, your extended family must be so proud today.
MWD
Too much Brandy and singing last night,woke up with a thumper of a head,but who cares ,what a beautiful morning.
Good news that big Yogi is back in the game,along with John Collins,Livingston Celtic.
Now for the fridge to see if there is any Jelly and Ice Cream left.Slan
Truth….
….and who’s fault is it????
In all our understandable excitement, are we not losing sight of the impact a fresh (Copyright Mark Hateley) Daniel Cousin will have on the Gers quest to retain their title? Birmingham FC must be seething.
JJ
Here’s a Celtic story, one of many similiar I am sure..
My family, both on my mother’s side and also my father’s are from Dun na Ghall, Falcarragh to be precise.
By endured but unsustainable poverty they came to the West of Scotland. Why? To try to make a life for their families. One can only guess at the trepidation they must have felt stepping off that boat in Glasgow. A strange land. The fear of the unknown, the loss of heritage. All that would have been in their minds, but they were determined they were going to make a go of it come what might. And what did they find?
The signs on the tenement buildings saying “No Irish”, the necessity of the coory in such hotpots as the Calton and the Broomielaw. Some made a go of it, many others did not. Our grandparents were spat at, reviled and demeaned by the indigenous population, who paradoxically, were mostly from the North of their own Island. Well, they lived poor. Some were doctors, others lawyers, some were writers and still others were scientists. But none of that mattered. They were all in the same boat, treated as sub-humans in a hostile city. But they worked as navvies – Mcalpines’ Fusiliers – and somehow they fed their families and they began to get an education. They were not parasites, they brought wisdom, heart and knowledge to theit new country. But they were met with as many obstacles as could be put in their path. Yet they brought up their children and they made damn sure that they were taught. Mostly, by threats of the leather, but also with love.
You could not even be a fireman back then if you had the wrong name or went to the wrong school.
You had to fight for every penny, but our people strived like the stock they were from and they never lost their dignity. I remember my mother crying when she lost our only precious fiver and my father making light of the disaster. I also recall living on Angel Delight for six months (tasty, when yer a kid!)
No matter the trials of living in such a place, the men and women of Ireland always had the Celtic as the representation of hope and the realisation of dreams. I am sure many of us will have been bored to death by our fathers waxing lyrical about players such as Charles Tully. It’s good that the Celts still mean as much to us as they did then. We truly do know our own history, and we tend it lovingly like gardeners, making that garden ever more perfect in memory of those gone before, and also those still to come.
Because Celtic was a release from all that trouble. Your man would always have Saturday to chew his baccy, have a beer and watch the green and white magicians weave their spell over a hard audience.
And my, how they did it!
King Billy led the march to our greatest achievement. A silver redemption, and jaysus did our family feel all that hope when the cup was brought home to be admired.
And now, we watch the establishment crumble before our eyes. The presumption of innate superiority stripped away. Yet we sustain. In fact, we are thriving.
The reason is simple.
Celtic is all about hope and love, we create rather than destroy, we wish no ill on others on our travels.
We know how tough each man’s journey is, and we celebrate every taken step.
In memory of my father. It took him ten years to get a job as a lawyer, because he didn’t have the handshake, but he came through.
Hail hail.
South Of Tunis says:
14 February, 2012 at 10:14
Forgive my ignorance. Who is that quote from?
Awe_Naw ; I think HMRC opposes a CVA in football cases because of the football creditors rule.
I’m not sure if that applies in Scotland but I do know they’ve been fighting it hard in England.
HH.
HMRC will accept a CVA if everything is transparent and above board, the company involved and its directors always acts in good faith and they get a good chunk of their money.
So that’s 0 out of 3 for Crag Whyte then!
canamalar-The 5 fag burns will need to be removed from jerseys too :}
truth – Hahahahahahahahahahahahahahahahaha
“youse will die too”
Straw clutching loyal. We may die, but we will die clean.
Enjoy hell….it was made for your rancid, stinking, rotten, cheating, bigoted club.
Karma is a bitch, and she wants paying Truth
BTW
Edwardursus. If you are looking in. I truly do feel for you today buddy.
One of the few decent Rangers men.
MWD
…. sorry, should have added –
YA FUD!!
Leckie thinks he is some sort of celeb ( along with his 2nd and 3rd trophy wife cant remember)
his kid attends same school as mine and loves the little attention he gets from idiotic parents.
always in the know never wrong.. yes i know that already
He is well aware what i think of him!
he is both bag and baw
Divitbhoy says:
14 February, 2012 at 10:06
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
…………..
Portsmouth!!!
Bada Bing – I knew there would be more, I’d guess there is a lot more we’ve forgotten about. Just remembered the JJB £20m as well.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS says:
14 February, 2012 at 09:51
Like it!
What about?:
Simply depressed
Sadder than all the rest
Sadder than any Hun
Any Hun as ever been
Any clubs left out of pocket because the huns owe them money for transfer fees have only themselves to blame and deserve scorn not sympathy.
They extended credit to a club that the dogs in the street knew was heading for the rocks.
Jungle Jim – I think we should be more concerned about the impact a fresh Cousin and FPLG will make on all those pies that won’t be able to be sold on Saturday when the game is called off.
Somebody better pre book an ambulance and a Hyster crane.
Truth
I believe there will be many responses to you but I would request, sincerely, that you answer this one:
How could a REASONABLE person support a Club which had a sectarian policy for 100 years and has never said that that was wrong?
JJ
Rogue leader
Saturday is A BRING YOUR OWN PIE & BOVRIL DAY at the HUNbowel.
MWD