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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Lets see apart from the list below, everythings rosy down ibORCS way……..
There’s;
1) the big tax bill
2) the wee tax bill
3) current PAYE commitments
4) NI contributions…. there is also
5) utilities bills i.e. electricity
6) water
7) gas
8) maintenance bills ye know from the MIB employers.
9) hotel bills
10) transport moneys
11) accountants fees
12) solicitors and
13) wages……
14) admin….. ok stationary
15) payment of debt facility
16) GCC payments, council tax etc
17) Insurance…..
etc….. please feel free to add to this debtors list, I suppose it could also be part of a party invite…… :¬)
V
Newsnight Scotland the noo – brilliant!
HH
TLK
Spiers now pushing newco.
Theyll be having Sickness & Diarrheoa when the Rangers die.
MWD
“The £49million often quoted is the tax bill and interest but they can charge you a penalty on the tax bill so we could have been up at £75million.
“It is a shocking figure and there is no way we could pay it.”
not sure if this had been posted already but this is how whyte comes to 75m. its just a lie, the 49 includes the penalty.
like wow! 75 million legacy debt, no wonder they are in administration and none of it is his fault.
all this and he actually speaks to the huns on the steps at ibrox. the man has balls of steel
SOAL
When I celebrate.
I CELEBRATE.
MWD
Shona Robison – SNP – “negotiate with HMRC” ?!!!
How about the Scottish Government CONDEMNING an institution that has avoided tax to the tune of up to £75 million ?!!
Would £75million rid the country of child poverty? Would it serve to provide training or apprenticeships in manufacturing? Mibbees.
Instead, Rankers have chosen to pay two bit football players (and others) over the odds wages. Liken it to a bank having an offshore base and thereby avoiding tax and paying massive bonuses to its employees.
How’s this for a negotiation – “PAY UP or DIE”
Surreal post on FF…
symbolic idea.
very much at the planning stage, along the lines of 4 “boys” walking up to ibrox on saturday, dressed in ye olde Rangers kit, white long john style shorts, possibly wearing a cap or two/moustaches, an old lace up leather ball, even a couple carrying oars, in short a sort of re- creating of the gallant pioneers themselves.
film it, it could be our white dove in years to come.
that was all it took to get it started, and lets face it, Rangers are far from finnished. no matter what happens.
Spiers on bbc 2 VERY pessimistic re Rankers but now dragging the hoops into it.. The we need them nonsense!!!
Rangers doomed..
JCGE
Spiers is speaking as a Hun for the Hun
he’s just a failed journalist
UC
Paul…
Can we have a article along the lines of….
The way forward for Scottish football?
Sick of the hacks war cry of we need each other!!
No we don’t !!
Radical changes required..
Here is my take Paul!:
-Bring first division up 20 team top division (minus tfod)
-Play each other once at home once away in order to keep championship fresh and TIGHT!
No more playing us and them 8 times a season making the chase close!
-more derby matches Dundee,north,Lanarkshire,Renfrew,fife etc
-more fans will come out to watch a competitive league!
Ayr v killie the other week 25000!
….?
celtic40me
That’s why he’ll be on the run when Rangers die. :=)))))
MWD
Wishart / Spiers
Right roon the pair a ye. ha ha
Paul67,or anyone else,
just in and going to read back all todays posts,but can anyone tell me quickly,
does going into administration mean the huns can escape their debt to HMRC,
cheers in advance
Can Murray get rid of a £49 million debt from his books for £1 and then wander back into town
and take over with a clean slate? Bails out both the hunas and Murray holdings.
ggh
Who exactly does Brittany think is/are going to fund Newco???
He’s a total zoomer…
goooooooooooddddddd eeeeevvvveeeeninggggg !!
:)
Vmhan Supporting Lenny! …. Celebrations! says:
13 February, 2012 at 23:11
asbestos
ok just logged in….any news?
After all the money I’ve ploughed into Rangers (£1), this is the way the treat me, eh?
Shocking!!!
Booed on ma own doorstep!
Well I’ll tell u this bhoy’s; I won’t rest til I get every penny outa that place!
Season tickets, anyone??? Last 3 left – Strictly first come, first served.
Roll up, roll up!
Auld Neil Lennon heid says:
13 February, 2012 at 22:44
go up to sandy lanes and knock on the door, i’m sure there’s jelly and ice cream for everyone
http://twitpic.com/8jj88h
Love
derbyshirebhoy says:
13 February, 2012 at 22:43
Paul67
I have posted before that Ticketus policy is tohave credit default insurance for the monies they lend so Whyte may not have needed to pledge Ibrox.
—–
DB
Have you personal knowledge of this?
Rangers or Whyte sell future ticket sales for a cash advance 18m or so against future revenue and an insurance co is prepared to underwrite the risk in that , with everything in the public domain about Rangers at the time?
Not my area at all but that seems a suicidal commercial risk.
It seems to me far more likely , as Paul suggests, that there is security somewhere.
Even if they carry insurance and the Insurers pay out they will , I would have thought , be exercising their right of subrogation to make themselves creditors in the Admin ,secured or not
Cant help but feel Ticketus and their insurers as the case may ber are going to be bigger players here than seems now.
JimmyQuinnsBits, sure thing.
pauloantony, yes, an excellent idea. One for next week.
We’re gonna miss them when they’re gone ????
Yeah ok then : )
Turntable Orchestra-You’re gonna miss me when Im gone
Right, enough now as I am to bid you all goodnight, thank you all sharing this day with me.
I feel privileged to be part of the CQN family.
Thanks Paul, I suspect you feel very proud as you should.
Craig Whyte says:
13 February, 2012 at 23:16
ah think yer great…. blush
Speirs showing his true colours on Newsnicht now. Total hun. No apology for millions and millions of debt…
A childish swipe at Peter Lawwell whose views on Celtic’s financial situation Speirs’ arrogantly dismisses out of hand…
And the plaintive, repeated cry that This. Cannot. Be. Allowed. To. Happen.
He’s just Darryl King with a posh voice.
HECTOR – Moonbeams WD. Kano 1000 \o/ Supporting Neil Lennon 100%. says:
13 February, 2012 at 23:13
i truly fear for tgef.
Rangers predicament is like someone playing monopoly and landing on Mayfair with four hotels. Ouch!
Tuesday’s Daily Record back page – “Heaven help us” #tomorrowspaperstoday http://twitpic.com/8jj88h
Paddy Gallagher says:
13 February, 2012 at 23:17
Right, enough now as I am to bid you all goodnight, thank you all sharing this day with me.
I feel privileged to be part of the CQN family.
Thanks Paul, I suspect you feel very proud as you should.
……………………………………..
Wot that man said.
Well well well……………… Scotland Newsnight
The more I hear and see Spiersie the more my dreams of a Rankers free zone csytallises.
Tell me they look so sad it looks as if they have lost something……
HH
wee game at Lnxtn tomorrow for anyone – Celtic u17s v a Uni team from Belfast
6pm KO
I said it all along about Spiers when it came to the crunch you would see him as he is, a greetin’ faced wee hun looking for some else to clean up the mess he just made in his pants..
No mercy..
Record back page….
Help us us, Obi-Davie Murray… You’re our only hope…
http://twitpic.com/8jj88h
Ah,bollocks.
He’s just switched on SSN.
BIRTHDAY RUINED.
Mea culpa,I should have got him blind drunk,not blooteed.
Apparently Rangers going into Administration because Craig Whyte typed in the wrong 4 digit passcode at the auto teller 3 times.
Instead of 1690 he kept putting in the year of his boyhood heroes one and only league title win 3132.
MWD