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.
[calameo code=0003901711c929f537703 lang=en page=64 hidelinks=1 width=100% height=500]
1,061 Comments- Pages:
- «
- 1
- ...
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- »
jimmci
They’ll have to be careful how they apply there rules though, there is a lot of precedent out there that says Neil Lennon walks free. A good QC will rock up at the home of Scottish football with a case full of examples that would break ten donleys backs.
Which reminds me, has there not yet been a video review panel to investigate the Whittikar stamp on Victor when the ref sent the young lad off. Whether he (Vic) deserved to walk, or not, is academic becasue he has now served his sentence. Whittekar, however, appears to have gotten off with a blatent assualt that makes Loovens tickle on Ratcho look rather whimpish.
seventyxseven ‘gelee et glace’ on 20 April, 2012 at 10:51 said:
Bondage Wellies, whit next!!
Ng is gone…..
I have a new favourite song today
Born In The USA
Chris McLaughlin @BBCchrismclaug Reply Retweet Favorite · Open
Bill Ng has withdrawn his bid to buy #Rangers. More to follow on #BBCSport
Liquidizer at the ready
celticinthesun
It was near Byres Road when he and his daugher where in the car. Students from “good homes” don’t ya know!
Gordon_J
Bill Ng has now walked away.
Mort
whit are you bams talking aboot. am no into bondage. i cannae stand they spy movies.
Ngs ain’t what they used to be.
Oh Dear the huns are not the Lady Boys…
Starry
I wouldnt know about bondage. I’m not a Scottish referee.
greenjedi on 20 April, 2012 at 10:59 said:
”celticinthesun
It was near Byres Road when he and his daugher where in the car. Students from “good homes” don’t ya know!”
One of them is now a partner of a firm of solicitors in Glasgow.
Ooops who woke Declan from his slumber and dreams of Electric Sheep…
Juke Box Jury ?
Named and shamed [ in 1967 ] by The News of the Screws for playing a 45 by The Mothers of Invention . A gin sozzled hack thought it outrageous that music which allegedly promoted drug taking was being given airtime on the Beeb ..
I would have banned it on the grounds of taste .
Don Van Vliet CSC -Way down south.
Aaaah ‘The Declan.’ Lol. How are you buddy?
Bondage is another word for slavery and one of your friends was on here this morning slavering. Have you decided how you are going to spend your Saturday afternoons next season?
Jobo, what episode are you onion BB season 3. Still loving it? Back to irk for me now, whistling “imwalking away”
SffS
Rangers Crimewatch Special
Mort,
Great isn’t it?
I want to buy them, really I do. Oh someone else is getting them, that’s a shame. What I can have them? Really? No thanks, I’m out of here.
Walter (laff a minute) havin’ a laff
greenjedi on 20 April, 2012 at 10:59 said:
I think you’re confusing two different incidents. The incident when Neil was almost forced off the road occurred on an exit of the Glasgow city M8. Neil was in his car with his daughter who was 8 at the time. A guy drove alongside him gesticulating and shouting at Neil and almost forced Neil off the road at the exit (Charinh X or Dumbarton I think.) The guy responsible was a car salesman employed by Arnold Clark.
Rangers FC: special report
Greenjedi
I knew one of the students quite well. Worked with him. Difficult to say but he was a nice enough guy to be honest.
Only through Rangers would he have behaved like that – under the Rangers banner where hating fenians is not only OK but encouraged. Rangers, it’s history of violence and racism brings to the surface the very worst in people and the nation.
It needs to die.
Really says it all doesn’t it.
There have been so many instances of attacks on Lenny that we can’t quite recall them all.
Still, I can take some comfort in the manner and efficiency with which the authorities are dealing with this issue. Ahem.
so that’s three offers withdrawn, saying they might be back if no other agreement is reached. So, will they all come back in now?
Dontbratt
Some Ngs best forgotten.
Gordon_J
It reminds me of a wee game we used to play. It involved a device where you put your finger into a slot. Each slot had an electric current running through it and the idea was to hold on as long as possible but to let go before getting shocked. Whoever was last received a large shock to the finger.
Mort
Interesting extract quoting Fraser Wishart.
“I don’t think the football authorities have any right to force someone to go and work for a new company should they not wish to. And it will be a new company, whatever it is dressed up as.
“Our position I think will be supported by the football authorities.
“If players do go across their contracts are protected. The newco would have to take their whole contract, wages, terms and conditions. They may all wish to go across. I don’t think anyone is actively searching for a way out.”
So a Newco if it had the same players would be starting with the kind of wage bill that put oldco into liquidation? I had forgotten about good old TUPE.
The Awakening.
” A time comes in your life when you finally get it. When in the midst of all your fears and insanity you stop dead in your tracks and somewhere the voice inside your head cries out – ENOUGH!
Enough fighting and crying or struggling to hold on. And, like a child quieting down after a blind tantrum, your sobs begin to subside, you shudder once or twice, you blink back your tears and through a mantle of wet lashes you begin to look at the world through new eyes.
This is your awakening. You realize that it’s time to stop hoping and waiting for something to change, or for happiness, safety and security to come galloping over the next horizon”
From the Awakening.
Neil Lennon, like Alex Ferguson will eventually become the master of the SPL. Ferguson wasn’t liked, successful or backed by the press in his firts few years as Man U manager. However time under the desk and he is the authority now, no other managers can take him on and he is respected for what he has achieved.
Enter Neil Lennon 25 years from now the Scottish Authority on Football.
Chic Young – Craig Whyte BBC October 2011 (Glasgow Rangers)
And thats only the ones that he has went to the polis about, how many has he endured but just left it?
Statement:
Bling no likey, no buy buy laingers, bye bye laingers
Is that a signapore sling( yer hook)?
NGoing ……..NGoing………. NNNGone.
I dont see the problem.
Saving Rangers is very very easy.
Give Whyte his £30m.
Pay HMRC the tax they are due.
Job done.
Wonder if mr keevins has taken Alex Thomsons advice on approaching his editor about “the big story waiting out there about glasgow rangers” alex is just trying to be helpful towards the guy, probably realises hugh isnt much of a journo,,,or is hughie more suited to talking rubbish to the phone in half wits.Go ON HUGHIE make a name for youyself cant spend the rest of your days trying to belittle people who love to talk to you on the phone
So Ng does walkiNG away.
Interesting part is the “irrelevance” that is Our Hero seems to have upset Mr Ng by not simply walking away.
The Rangers story just keeps on giving and giving. It’s truly delicious watching all this play out. Just so funny.
South Of Tunis on 20 April, 2012 at 11:04 said:
The Mothers were definitely ahead of their time……and anything with Zappa involved is worth a listen.
Zappa was so misunderstood…….him and Beefheart together on an album is a real musical journey.
The title came back
st stivs
sorry bud, the info I got was not for Ayr. Told to bet 2 singles and an each way dbl on ;
Rydalis 5/1 fontwell 2pm
Valmina 10/1 bath 8pm
Good luck today. Spank them damn bookies…damn dem damn bookies