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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alex thomson @alextomo Close
So it’s Friday. Where do we go next with RFC – the mess widens into the banking system and possibly the police
As Paul67 would say, hmmmm
Thinkin’ ’bout Ngs …
Like a wok in the park
Ngs …
Like a bid in the dark
Ngs …
Like like takin’ hacks for a ride.
Yeah, yeah,
What about the huns that cried?
I wish Alex Thompson would just spill the bloody beans and stop teasing.
Banks and possibly the police involved?
Epic scandal.
The ole Mothers of Ngvention are leavin’ the ship like hot rats.
What a photo at 4.10 in that last video.
Al be cry Ng, Cry Ng
Over yooooo
Cry Ng
over you
Cra hahhaha hy Ng
Al be cry Ng
Hehe
The penny is starting to drop over on Follow Follow.
It is hilariously delicious.
Start unpicking those 5 stars bears….
Ah, is AT delving into the murky stuff that BRT&H did an excellent bit of exposure on the other day??
Would be interesting to see for how much the huns have claimed expenses on brown envelopes btw !
So does that leave Bill Miller as preferred (only) bidder??
Contrary to reports, I have it on good authority that Bill Ng’s has loads of really fluid assets – I mean really, really off the radar fluidity.
In fact, he’s so fluid – he is referred to as a liquid-asian bidder…
Now where did I put that coat?
Isn’t it ironic that following the protestation that “we don’t do walking away” that the only person not waling away is Craig Whyte.
Mort
Dontbrattbakkinanger on 20 April, 2012 at 11:33 said:
Zoot Allures….perhaps they have fled to Joe’s Garage!!
Celtic FC 2012 Stand up for the Champions
Excuse my ignorance but what is the relevance of the 5 stars on their shirt?
Snake Plissken on 20 April, 2012 at 11:30 said:
I wish Alex Thompson would just spill the bloody beans and stop teasing.
Banks and possibly the police involved?
Epic scandal.
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
2010 Never Again
Do keep up Snake. (can I call you Snake?)
BHRT spelled it all out the other day on the rangerstaxcase site in minute detail. He named names, dates, places….and where the bodies were buried.
We’re being drip fed and it all is going to come out slowly but surely. We’re not sitting at the back of the bus ever again.
Mort- Craig is in it for the long haul. After all, he has paid 100 shiny new pence for the whole shebang.
So does that just leave Buffalo Bill and EBT Paul or have the Bloo Nites stepped back or are they just hovering? I’m lost.
Each star stands for £30M they owe.
Breeny on 20 April, 2012 at 11:39 said:
It’s a hommage to the huns favourite band from the early 80s
FF reporting (sic) that this is gooooooooddddd news as it paves the way for a return of the Blue Knights!!
Hee hee stupid, stupid huns….
kitalba on 20 April, 2012 at 11:29 said:
One Word : Magnificent
Imatim
I read BRHT’s piece and found it epic.
I’d like to see it on C4 OR if he has anything else. The thing about the Police is the most interesting bit if there’s anything in it.
Breeny on 20 April, 2012 at 11:39 said:
Excuse my ignorance but what is the relevance of the 5 stars on their shirt?
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
2010 Never Again
One star for every title they won legitimately without help from their friends in the SFA and the MIB.
I have not lived in Glasgow for 40 years I really have no idea. Thanks
Does anyone have a link to Brogan’s post being referred to above?
Bill Ng EXPOSED!
http://www.youtube.com/watch?v=cLyQDFjY-TQ
Fritz A. Grandold @fritzagrandold Reply Retweet Favorite · Open
Ex-RST spokesman David Edgar says D+P are seeking liquidation. Says his source is different people from 2 ‘bidders’.
Well I wouldn’t like to say I told you so but…………
Breeny
When they won their 50th title, they added 5 stars, 1 for every 10 titles following on from Italian sides.
Other teams have stars for important things like European Cup wins, World Cup wins etc or in Man City’s case, to give the jersey a more “continental flavour”. I kid ye not.
Mort
Its one star for every bidder whose walked away.
SFA delay verdict on Huns/Whyte breach of rules till after weekend
I wonder if something else is going to happen today which will make the SFA announcement easier?
Rangers v Celtic 20/3/88 part 5 What happened next?
Is it one star for each tax case? ….I have lost count right enough.
Can you have a ‘preferred bidder’ if there is only one left? Or should that just be ‘bidder’?
Yes, step forward Bill Miller. It’s your turn in the spotlight. Expect a sudden rush of enthusiasm from the MSM, quotes about how over there in the US you had always dreamed of owning a football club and articles extolling your outstanding business acumen.
It’s all so predictable. Yet still hilarious.
They’re Kirk Numbnuts Michelin Stars, for his signature Oeufs Hillbilly.
The five stars are to denote the number of contracts the player has.
Snake Plissken on 20 April, 2012 at 11:41 said:
I read BRHT’s piece and found it epic.
Excuse my ignorance but what is BRHT?
Thanks
Breeny on 20 April, 2012 at 11:39 said:
Excuse my ignorance but what is the relevance of the 5 stars on their shirt?
stars?………………….i thought it wis fag burns
Gordon J
He has more US dollars than China dont you know. And is doing a deal so Rangers can have first pick of future generations of Edu and Bedoyas.