Directors and shareholders in limited companies cannot be pursued by creditors under normal circumstances but special provisions exist for ordinary creditors and the tax authorities to pursue officers in a company if their behaviour transgresses acceptable standards.
The Social Security Administration Act 1992 allows HMRC to issue Personal Liability Notices to officers in a company for the recovery of company tax if they are guilty of fraud or “more serious levels of neglect”.
HMRC say:
Generally HMRC may consider a case to involve more serious neglect where it can be established that against a background of persistent failure to pay the contributions due the company was making significant and/or regular payments:
to other creditors
or
to connected persons or companies
or
in the form of director’s salaries
A case may also be judged to involve more serious neglect where ‘culpable officers’ have been associated with previous liquidated companies or other companies that have demonstrated a failure to comply with the statutory requirements of the Income Tax PAYE and NIC legislations.
While I am sure Craig Whyte has acted with the utmost probity Duff and Phelps early comments that Rangers used tax as cash to operate the company with will concern many.
Rangers accumulated £15m in tax debt during Whyte’s tenure. In addition to his outstanding guarantees to Ticketus the Rangers owner will be alert that the administrators report could cast his actions in a poor light with respect to some of the above scenarios.
The £15m HMRC are demanding for this season is not cash Whyte received, Rangers used that money to fund a domestic and European football campaign. Rangers owe that money and Craig Whyte is unlikely to forgo his security (Ibrox stadium) without his potential tax and Ticketus positions being covered.
Any attempts to resolve the matters surrounding Rangers which does not provide funds for this obstacle is doomed to failure.
Only a few hours left to bid on the charity auction for the Neil Lennon painting.
Buy a hard copy of CQN Magazine, issue 7, by clicking on the button below. You can read online here.
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RRC: on 19 April, 2012 at 22:22 said
Still there and so is the Crow a wee bit further along. The Spring Inn though, in Springburn, is gone.
Another day in ends in fairyland!
TBK dickering around with whatever paltry sum they have to play with. Kennedy verbally doubles his offer but is told to get lost. Ng gets ready to walk away after Ticketus go back to flirting with a rival. Miller is virtually forgotten.
The administrators release a statement telling everyone that not one person has made an official unconditional bid to buy Rangers. No surprise there actually. You’d have to be out of your box to buy this Rangers in its current form.
And Jingle Jackson is sport writer of the year!!! You could not make it up even by fairytale standards it is off the radar.
any Irish posters/lurkers on here,there is a program coming on TG4,@ 10.30 about a young republican from Derry..
Row z
Busted!
:-)
blantyretim on 19 April, 2012 at 22:27 said:
Paddy G
stag in Glasgow….? o))
You bet mate!!!!!!
A cqn stag, is that a first? :-))
31003 on 19 April, 2012 at 22:28 said:
I have 30 badges….hic!
HH
CRC
jimmyquinnsbits
I have taken a few half days just to go and have a beer with Estadio, always well worth the time…great craic….always…
RRC
old building gone but funeral parlour still next door, two ways now a trendy bar too o((
The Grove still sawdust though…
Craig Whyte profile: The Scots billionaire on the brink of taking over the club he loves
Nov 18 2010 Keith Jackson
Craig Whyte started playing the stock market at the age of 15. By the time he left school he had more than £20,000 in his bank account.
Yada Yada
Journalist of the year
31003
Shove yer beer
Just geeza hug….
31003
didn’t get a chance to get a beer with you after St Johnstone game as oldtim found McCuhills too busy for him…
the ild yin wanted to move on, maybe next time…
row z \o/ (O) enough fly kicks, pass me the hose! on 19 April, 2012 at 22:13 said:
Hamiltontim
What good’s two thirds of a ticket?
HH
it means you are allowed to leave early as opposed to those who do just to get a quick getaway. can you imagine the stick you would get if you left a tenth of every pint you ever had
Gordon J
To aspire to win both in the same year?
SFA Ref = failed footballer with control issues and delusions of importance
MSM Sports Journo = failed footballer and failed ref with control issues and delusions of importance
Goodnight bhoys :-))
night Paddy G…
James Forrest is Neil Lennon! We are ALL Neil Lennon! on 19 April, 2012 at 20:20 said:
———————————————————————————————————-
Spot on james. we have just rolled over again . This is not just about celtic getting cheated by the mibs . its also thousands of men women and children , the fans who support the club that get cheated, the same fans who pay their hard earned money to buy season tickets , . These mibs decide if our fans go home happy , they decide if we have a chance of winning silverware .(like they did a few weeks ago and last saturday) They are part of the crusade to down our team . a huge part . No this has really made me bitter tonight . and to think we are wondering about the vote to allow newco back into the SPL ,i think we can guess one team with no objection to that happening . sickened. tonight
jimtim
.
bournesouprecipe on 19 April, 2012 at 22:31 said:
It’s more an act of defiance by the hacks than anything isn’t it?
It’s a bit like the referees. They feel under attack and are huddling together for comfort.
The best bit is they know that without the huns in the SPL their jobs are on the line.
BT
Minerva Street is part of Glasgow history
I really liked working there, the atmosphere in the place was akin to M*A*S*H
i think at one time I knew every single homeless man in Glasgow by his Christian name, I liked that
The greatest singing drummer that ever lived has fallen silent. RIP Levon Helm of The Band
The referee, the assistant referees and the fourth official are in constant communication via radio microphones. Any abuse a match official were to endure would be picked up.
Who’s recording this stuff?
cv
do you remember when we used to blog about football?
what a couple of years
George Galloway on Question Time now.
Zbyszek on 19 April, 2012 at 22:21 said:
That wasn’t a game, it was a bloodbath! 17 yellow cards and 3 reds. Were Athletico Madrid playing Racing Club, Buenos Aires? :-))
ernie lynch
“Bit of a soi-disant intellectual. Reminds me of Pat Kane (which isn’t a good thing. ”
Aye but can he sing like Mel Torme?
Kevin Hughes
I have pondered in the last 10 minutes of many games whether Celtic should sell a 2/3 season book for those who only want to watch 2/3 of the game. They could all then take the crap seats near the exits to make it easier to leave. Stewards could then clear those rows with 15 to go.
neverevereverleftearlycfc
HH
SOAL
Sad news
Levon Helm R.I.P.
The Band…The Weight!
Lies…
PC..
Conflicting reports….
Brines….
Did jacshun not trumpet CW into town??
SFTB, there is a belief that you can link the rise of football to the establishment of the railways, enabling players to travel. Subsequent improvements in railway access and the establishment of the road network, with associated omnibus transport in the post-war years, enabled supporters to actively ‘support’ teams outside their local towns.
Blame the A8 for the decline of Hibs and Hearts.
RRC
There used to be a Quins in Springburn, but you’d have to go back to the early 70’s to have a pint in it.
Surely way to early for you to be partaking in alcoholic beverages ;)
Used to live above the Woolies just along from it, but moved when i was 2, so not a place I drank in either…lol.
Not sure if the Quins in the Briggs has anything to do with the Springburn Quins.
Ernie Lynch
What’s your take on the SFA/CFC ‘result’ tonight?
hh
row z/ Kevin Hughes
Ha bloody ha yeez know what I meant :-)
Bloke109
How many you looking for?
SOAL
2 Tickets for el classico purchased but I had to fly there (first class ) to get them.
That’ll be £1480 to you (per brief)
no apologists on 19 April, 2012 at 22:14 said:
RRC
Quin’s is in the Briggs. Good Celtic shop.
Is a Good Celtic shop,has a framed picture of Jim Baxter in the corner,though the calibre of the Guinness is not what it used to be!
Paul67
Seeing as your comments already “stand out” in a colourful manner any chance you might carry on with adding lights, bells and whistles:o)
Time for a sing song
HT
Madrid end?
P67
What has the new members of EU got to do with Hibs/Hearts demise ? o))
Cathedral View on 19 April, 2012 at 22:38 said:
Vincent Looney..!
Shevlanes in Springburn is now a hun shop!!