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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Intrigued by the result yesterday of the Ibrox incident. I wrote to Stewart Regan on the 27th March. Didn’t realise how close to the truth I might have been.
27th March 2012
Mr Stewart Regan
Chief Executive
The Scottish Football Association Ltd
Hampden Park,
Glasgow
G42 9AY
Dear Mr Regan
I wrote to you in November 2010. I enclose a copy of that letter.
I wish to draw your attention to a comment I made at paragraph seven when I said
“This demonstrated a failure on their part to appreciate the seriousness of Mc Donald’s lie in the context of how all of their colleagues will be viewed in future.”
The already infamous Tunnel incident of Sunday last suggests that I will not be far wrong in my assessment.
What happened in the Tunnel?
Well the simple answer is none of us knows.
What we do know is that Neil Lennon has a temper and previous for losing his cool. What we also know, however, is that the Scottish Refereeing Fraternity has previous when it comes to telling lies and colluding to obfuscate the real facts, particularly when it involves the Celtic Manager.
The blunt truth is that whatever the outcome here there will be a cloud which will hang over this incident for some time to come.
I ask if we have now reached the point where a Celtic Manager needs to ensure that no conversations take place with any officials without formal witnesses present.
This is a very sad state of affairs and one that could and should have been avoided by all parties ensuring that they act in an adult manner.
I believe that if action is to be taken against the Celtic Manager then it is essential also that the officials involved be reprimanded for their handling of the affair since it is clear that they exacerbated the outcome in failing to deal with the issue in a timely manner. The delay between the incident and action being taken smacks of the playground gang colluding before exacting retribution on the weaker party .It is the Official’s responsibility that this issue is now clouded in controversy and they have done no-one, least of all themselves, any favours.
Professional it was not.
We can but hope that those sitting in judgment on this occasion are fully aware of the necessity of justice being seen to be done and for it to be done equally. Above all there is a glaring need for transparency regarding the thought processes and judgements of those officiating.
Since drafting this letter I note that the Celtic Manager is the subject of further questions by the SFA regarding his comments. It is notable that no such action was taken against either Terry Butcher or Ally Mc Coist for comments of a derogatory nature against SFA officials earlier this year. It is also notable that at last year’s so called “Game of Shame” Mr Murray seemed so unperturbed by being manhandled by three Rangers players that he failed to include the incident in his report with subsequent punishments for Ranger’s players being of the laughable variety. A pity he and his colleagues could not be quite as stoical when faced with a verbal volley by a Celtic Manager.
The process of vilification of Mr Lennon seems to have escalated once more with daily attacks returning to the norm. At the forefront of these seems to be current and former referees who it could be argued appear to still have a vendetta regarding their failed strike last season.
Yours sincerely
truth4767 – you haven’t gone yet….believe me the show is just about to begin and you are not going to enjoy it.
Riperman…
Matt Slater @mattslaterbbc Reply Retweet Favorite · Open
Sources I have spoken to in S’pore say Ng never had means to pull this off & it stretched credibility to think he ever did #RFC
Retweeted by Paul Larkin
Another skint member pretending he’s got a clump of money to buy the most toxic club in world football…
Dearie Dearie me, I’m sure Keef “off the radar” is all over this story, exposing these charlatans with his brilliantly incisive brand of journalism!!
Haha Stupid stupid huns…
truth4767 on 20 April, 2012 at 09:28 said:
Rieperman on 20 April, 2012 at 09:20 said:
RogueLeader on 20 April, 2012 at 09:23
RogueLeader on 20 April, 2012 at 09:23
Lads, life goes on , believe me.
You will miss us if we go.
But Rangers will never die.
share on F’book or Twitter
Oh no we won’t.
Oh yes you will !
Wouldn’t it be glorious if we never had to play THEM again?
I for one would be the happiest tim alive
truth!!!!!!!!
even if you dont die, it’s been one hell of a pleasure watching the suffering.
goodbye goodbye you were the billy boys.
Champion Spring day here in the Chilterns..
RogueLeader @ 09:19,
”If this Rangers saga was a film, today would be the day the FTT comes back for maximum impact”
Don’t you think they are over doing it with the jeopardy thing…… ?
Aye,
Lenny needs to follow advice of Huns who have cheated, lied and corrupted their way to their own demise.
Soory to inform you truth5675768 but you and your way of life is finished. Game over. We won and Lenny is going to be holding the League Trophy when rangers die!!!
Hello Hello we are the Lady Boys…..
truth4767 on 20 April, 2012 at 09:07 said:
In short your advice is to betray himself and pander to bigots.
You personify all that is wrong with your own club and people, problems that run interminably deeper than a couple of lost games at Hampden. The paradox in your blog name is just silly.
You seek to betray the truth. Hold out an olive branch that is poisoned.
Come and be like us, look like us, act like us, and you’re life will be easier and better. In return you will not get the kind of vile, bigoted physical and character assaults that you have faced from us.
Can you not see it?
Neil Lennon is far from perfect, but he is true to himself. And he is a good man. You even, nearly, admit it. But here’ the thing. It’s his superficial faults that expose the bigots, not anything about himself that needs superficial spinning to the afflicted.
I don’t like Ally McCoist. I found him a sneaky, cheat of a player. I find his two faced private/media persona sickening. I found his actions at Celtic Park last year throughout the whole game amongst the worst I have ever seen of a football coach. yet Neil Lennon and Celtic were vilified more so than he in a ‘shame game’.
I have no intention of asking him to change, it simply doesn’t matter to me. I won’t be sending him anything in the post and if he sits next to me in a restaurant or train or pub I will leave him in peace with his friends or family.
Spot the difference.
Chairbhoy – Na, I think they have it pitched just right :)
From our point of view anyway…..
Bhoys, truth4767,is right..how can they die …they are the peepil….
Stupid Hun !
Most people like funny gregarious folk, however we don’t all have the humorous, gregarious, effervescent, genes. So the sincere ones amongst us are true to ourselves and try in our honesty to be accepted. Some folk just don’t feel the need to be popular to compensate for any dark inhibitions and insecurities.
Others though can be absolute vipers, giggling fools, charmers, jack the lad, nod and a wink and as false as Rangers honours list. But without the mask they are hollow and nasty. Super Ally just flung himself to the front seat of my minds bus for charlatans and hookers.
truth4767
I think you may be missing a very potent point in your suggestion. You are referring to a man who has for a decade had his life threatened for no more than being a Roman Catholic who played for NI then Celtic. His family had to be relocated. Can you imagine the pain his parents suffer through worry for their son and his family. Can you imagine Neil’s anguish at the thought of his parents and family’s anguish.
This is not an Alex Ferguson type scenario where it’s simply a manager who is apt to blow up over 50/50 football decisions. Were it so, I would echo your sentiments. This is a man living a nightmare for doing a job he loves, and who has been wronged, lied to and cheated by colluding officials in the country he works, in the country where a significant number of people would gladly see him dead.
Neil Lennon carries a chip on his shoulder. Of that there is no doubt. It was placed there by cheats and bigots, liars and lowlife. I actually think he carries it remarkably well. Many weaker mortals would have walked away. Me included. My fear for both my own, but particularly my loved ones’ safety would have forced my hand. In other words, I would have taken the cowards way out, which is what the other cowards want him to do.
Neil though is made of sterner stuff and has showed remarkable patience and understanding. Remarkable. In any other country in the world he would have had almost unanimous backing from the governing bodies, the media and general public. He has not had that. He has had the love and support of the Celtic family to support him. Astonishingly, it is HE who is supporting us through these dark times. His comments and actions are often an extension of our own feelings. We have little voice in this country. Neil, as a figure continually in focus, speaks for US.
If his anger and frustration spill over, can you blame him? Really?
Can I tell you that were it Ally McCoist going through this, the Celtic support would be outraged and would speak out. I would crucify any Celtic supporter coming on here, or on any forum, for advocating, gloating and indeed encouraging any kind of threat to Ally McCoist or indeed any individual. That includes vile personnel such as EHJ, and Andy Goram, who in the past, by their actions and words, have shown themselves to be lowlife for differing reasons. I think most of the Celtic family would join me in my condemnation.
I look on FF and read the absolute and bitter hatred of a Neil Lennon. I can truthfully say, in all that I have read on there, I have yet to see a solitary message of support for Neil or a word of condemnation for his attackers, including the 2 individuals who tried to murder him.
As I say at the outset, I think your comments miss a very salient point.
Thanks for your congratulations on our title win. I truly hope you are correct about a generation of domination.
Dougal wheeled out on SSN there commenting on Lenny
You could see he was beeling at the ‘verdict’
The inept reporter did not ask the obvious question
“Stuart, was there an issue with the various testimonies of the 4th official and linesman?”
truth, why do you have the ammount in pound notes left in rankers bank account as part of your moniker?
away back to yer stank.
truth
Can I borrow a quid please??
Bombs through the post? Assaults on the pitch? It’s just a giggle really. Why not make a joke about it?
Rangers will never die? I bet Third Lanark, Clydebank and Gretna fans all said that too.
Meanwhile back in the real world, I’ve been thinking a lot about yesterday’s events at Hampden. It’s very hard to come to a conclusion when you don’t have most of the facts, or know what happened in the formal part of the meeting let alone the reported corridor discussion between Lunny and our QC.
But I do know that most people were predicting massive bans beforehand and that the end result was much less severe than expected. So that alone must be seen as some sort of a victory.
And if there is a grand plan then perhaps this is part of it. I have generally supported our club’s silence in recent times. It’s a combination of leaving the focus where it deserves to be and Paul’s maxim of not interrupting an enemy when he is making a mistake.
The time will come when the voice of Celtic will be heard. And at that time I will be expecting a great deal from the custodians of our club.
TWISTS N TURNS 0944
Brilliant,absolutely brilliant.
Truth
Obsessed by Neil Lennon
When Ranjurs die
obsessed by Neil Lennon
when ranjurs die
any CQNers at AYR races today.
any horsey tips anyone ?
Hamiltontim,
No use asking him for a quid. He’ll have donated all his to Mr Custard already. :)
truth4767 @ 09:07,
”He needs to get rid, or even temper, the nasty side he shows all too often at the side of the pitch, and in press conferences. Chill, Neil.”
When somewhat younger I never approached my work with any sort of humour, in-fact quite the opposite, I even found the banter thing with work colleagues wearisome. Don’t get me wrong after work over a beer or over a bite I enjoyed the company immensely.
We are what we are, most of us will never know what it takes to succeed as a top Sportsman, we may have a bit more understanding of the challenges of Management. Neil Lennon has succeeded at everything he’s done through grit and determination, and maybe also because he doesn’t feel the need to humour or entertain the general populace while going about his business.
Apparently Neil is an intelligent, articulate fun ghuy… wonderful.
While he’s Celtic Manager I want him to take his job seriously, up to and including upsetting groups and individuals who wish to undermine or cheat us.
BTW: Scottish football will be much better and more competitive without R@ngers and I’m looking forward to that. I don’t think it will anything close to a decade before you’re back and I for one look forward to playing a quality rival devoid of supercilious bigotry.
The weearrappepil mentality is bewildering, and sad. How can a so called educated community behave in such a manner? In their words, thoughts and deeds? How? In this day and age?
They want ethnic cleansing. They want to see the end of Catholicism.
It’s not ethnic cleansing that is required, but that IS close to the answer. If they look closely in the mirror, and for the first time in their lives do a self appraisal on themseves, they will see it is ETHICS cleansing this country needs.
Saint Stivs,
As it happens I got a tip for the 3:25 at Ayr. Seven is Lucky is currently at 13/2 with Paddy Power. I know nothing about horses myself mind, just passing on a tip.
St Stivs
check back in at around 11.30am bud. Supposed to have a horse tip being sent around then.
my old granny, god rest her soul, used to buy a magazine called the peoples friend. On the front cover every week was a different scene, depicting some remote fishing harbour, city park, monument or religous building (of variuos faiths ). This was painted by a scottish artist in water colours.
When Rankers die, there should be a special edition called the “peepils friend” depicting the wasteground in all it’s glory, where ipox once stood.
Any subscribers?
A list of Rangers managers since I started going to the games:
Scot Symon
David White
Willie Thornton
William Waddell
Jock Wallace
John Greig
Tommy McLean
Jock Wallace
Graeme Souness
Walter Smith
Dick Advocaat
Alex McLeish
Paul Le Guen
Ian Durrant
Walter Smith
Ally McCoist
Okay, which one is the joker? Which one had you rolling around if fits of laughter?
pedro
a best seller in the offing!
Financial Distress Warning Issued to Football League Clubs
Posted. Apr, 2012 by editor in Business News
A new survey into the corporate health of the English Football League by Begbies Traynor the corporate recovery specialists, reveals that signs of financial distress are alarmingly widespread among professional football clubs in the Football League.
With both Port Vale and Portsmouth football clubs entering administration, recent weeks have not held good news for the finances of football.
The Red Flag Alert survey, which monitors business distress levels, has found that of the 68 clubs currently playing in the Championship and divisions one and two of the Football League, 13 are recorded as displaying signs of corporate distress, indicative of poor financial health.
The figures show that while just 1 per cent of UK businesses are showing symptoms of distress, a massive 19 per cent of the football clubs surveyed show the same degree of financial ill health.
The financially distressed clubs include three in the Championship, six in Division One of the Football League and four clubs in Division Two.
Business distress signals, as measured in the survey, comprise a range of significant financial problems that include clubs with serious court actions against them, including winding up petitions and high court writs; clubs that have been issued with striking off notices for late filing of accounts; those with county court judgments against them; and those with serious negative balances on their balance sheet.
Commenting on the report’s findings, Gerald Krasner, a partner at Begbies Traynor who has a track record of dealing with troubled clubs, said: “That 19 per cent of clubs in these three divisions are showing signs of ill-health when directly compared with just 1 per cent of all businesses in the wider economy clearly shows the sector is facing a very challenging time commercially.
“Football’s popularity and income are holding up comparatively well in the economic downturn, but nevertheless many clubs are continuing to spend too much, principally on players’ wages, as they always have done.”
Krasner added: “Football as an industry also suffers from an enormous financial gap between the Premier League and the Football League. One effect of this disparity is that Football League clubs are often tempted to overspend on players to try to gain promotion, and the promised riches and prestige that come with it.
“While Premier League clubs are guaranteed huge television money every year and some have extremely wealthy backers, there are signs of genuine financial distress among a significant number of football league clubs. The sales of season tickets for next season, many of which are paid for during April and May, could provide some short term relief for struggling clubs, but it won’t solve the underlying problems.”
Gerald Krasner concluded: “For football clubs, like any other business, when there are signs that a company is in trouble, getting good professional advisers on board before the decline has gone too far is key. The earlier a club takes advice, the more options its directors will have available to help turn things around.”
.Comments are closed.
twists n turns on 20 April, 2012 at 09:17 said:
bmcuw
I’ll give it foive.
Mind you, if you are under 50 years old that comment probably means hee haw to you…
………………………………………………..
You’ll give it foive.
I’ll boiy it and give it foive.
Janis Nicholls/davidjacobsjukeboxjurycsc
Old newspapers
I used to deliver the papers. Read all the comics on my route around the village. Beano/Dandy/Topper/ Scorcher and Score/ (Jimmy of City and Jack of United anyone? – nah never mind)
….oanyhow…where was I ? Aye..old papers. The Weekly news. My fav read in there was the “court cases” where inevitably Big Aggiw was in the dock for belting wee Jessie ower a dispute aboot a washin’ line or a gairden fire or summit. Quality….
Saint Stivs on 20 April, 2012 at 09:54 said:
any CQNers at AYR races today.
any horsey tips anyone ?
Lexi’s boy in the 1st. small field ( 5 runners ) short favourite @ 5/4 on paddy power. Jason Mcguire on board, second favourite is Dildier with Ruby.
Going tomorrow.
Going for Walkon in the national, not sure why?
Sadies bhoy
hey hey……. someone as auld as me. Thanks !
Assualted in the street.
Bullets in the post.
Moving your family in the dead of night after warnings from police.
Bombs in the post.
Then, after all that, assualted by a fan who ran past security to get at him.
And people criticize him for lambasting a referee that made a very bad decision that cost him the game.
Only in Scotland.
Just played a C-F-G7 riff in memory of Bert Weedon who died earlier today.
I reckon Play In A Day has had more reprints than the Gideon Bible.
Ownership
The intelligentsia cast their eye
Not knowing the result
Blind to all the consequence
Of the intentional insult
The lurker he declined to post
At the intelligentsia peak time
Not fitting a perceived norm
Too often seen as the crime
The intelligentsia would have their way
And make the blog their own
The lurker would smile with dismay
Stifling a groan!
I remember Peter Lawwell making a joke at a press conference last year and going into fits of laughter but that didn’t seem to go down too well with some.
Ah, to joke or not to joke.