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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What’s the story with Our friends in blue and, defenders of the people in the Strathclyde Constabulory.
Good morning, hail and sunshine here in Swindon.
Can someone let me know ifthere is no preferred bidder today they go into liquidation, or can the deadline be extended, so confused.
why have 5 when 1 will do!
stooooopid huns
Mort
thanks, your version appears to be the only believable one.
Snake Plissken on 20 April, 2012 at 11:41 said:
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.
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
2010 Never Again
Do you remember when this all began? Do you remember the raid on Ibrox when their computers were impounded? What information do you think was on those computers? Where are we now?
Who do you think was involved in pointing the police in the hun’s direction? Who was it that said “no more”
And some people don’t think there’s a plan at play.
Drip! Drip! They are all going down.
The 5 stars represents the rating that Fat Sally gave to Gregg’s new sausage rolls.
So the only bidder left with an offer on the table is one who prefers the liquidation route. Jolly good.
BRTH link, http://rangerstaxcase.wordpress.com/2012/04/16/balance-of-probabilities/comment-page-4/#comment-80323
ernie lynch on 20 April, 2012 at 11:47 said:
The five stars are to denote the number of contracts the player has.
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
2010 Never Again
And the winner is……
134 Million will cost jobs
Didn’t Paul67 and a few others predict that once it came to putting the £½Mill non refundable deposit down there would be an undignified ”walking away.
Interesting that since the Blue Knights ”stepped back, Fraser Wishart has stopped working on getting the players to take huge % pay cuts and is doing his job of protecting their interests.
MMMMmmmmmmmmmmmm
Has it taken this long for Strathclyde’s Finest to put all those wee shredded bits of paper back together?
2010 Never Again
Please no liquidation any time soon. Surely the administrators can squeeze another million or so out of them before that inevitably happens.
Could someone point me in the direction of BRTH’s post on RTC? Been away for a few days and don’t want to spend hours searching?
Thanks
I harbour a secret hope that the reason the tax tribunal was held in private was because of the possibility of prosecutions to follow.
Ever the optimist.
Tom McLaughlin on 20 April, 2012 at 11:57 said:
go back half a dozen posts to paulsatim is neil lennon @ 11.53
Paulsatim –
Just saw your link.
Thanks.
Ernie
I agree.
Chairbhoy – Occams Razor.
It has been as clear as day for many weeks that liquidation is Whyte’s, and therefore D&P’s, favoured outcome.
All of this bidding garbage is a means of treading water until they can say HMRC has sunk the good ship Hun with the FTT tribunal.
Unless a bidder appears who is willing to weight Whyte in by liquidating it himself…..
Oh say can you see, by the dawn’s early light….
ernie lynch on 20 April, 2012 at 11:58 said:
I harbour a secret hope that the reason the tax tribunal was held in private was because of the possibility of prosecutions to follow.
Ever the optimist.
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
2010 Never Again
Where’s minty’s money located these days?
deekbhoy
It is our esteemed poster.
Prosecutions?
Her Majesty’s Prison Service next for the FF banned list then?
And all those youtube vids to reappear with “Revenue & Customers” replaced by “Prison Service”. More fun on the horizon :))
Heh heh, stupid huns.
Patrick McGuire* @paddimir Reply Retweet Favorite · Open
so Bill Miller is the only bidder left, really, and Craig Whyte said “I have not spoken to Bill Miller and I have no plans to speak to him”
Seems Whytey’s no keen on Bill…
Scottish Referees Strike
Jobo Baldie on 20 April, 2012 at 10:21 said:
BlantyreKev @ 9.40
tywists n turns @ 9.44
2 absolutely fantastic posts. Glad of such folk on here that can sum up my feelings better than I ever could. Apart from the weather, obviously.
Back to work…
Jobo saved me the words well said bhoys and Kitalba 11.29 thank you again for title link.
Back to baby sitting grand child :)))))
HAIL HAIL
new article posted.
They are absolutely and utterly doomed – doomed I tells ye.
On the Ng Nang Nong
Where the Bids go Bong!
and the journos all say BOO!
There’s a Nong Nang Ng
Where the papers go Png!
And the Editor’s jibber jabber joo.
Bon Voyage Sean Walsh
“THE FIVE STARS” is the name of the new Chinese restaurant to be built in Govan very soon.
May I recommend number 67 on the menu;
Dim hun.
I warn all tims though, you might everything tastes a little sweet…..
The task of investigating the wee £1 Billion fraud at HBOS is being carried out by the Serious Organized Crime Agency..
Minty Moonbeams had close contact with some of the known players. Minty Moonbeams was on the receiving end of some astonishing largesse [ largely unsecured ] from HBOS. Minty was real good at losing money and then getting even more to lose from HBOS. Many experts claim that football clubs are ideal environments for financial jiggerypokery.
If it transpires that FF is indeed not interested in signing for Celtic FC Neil should drop him immediately no messing about.
“So Fraser you ,allegedly, think you can do better than Celtic !!!!!, stifled sniggers & giggles from Thommo and Johan in the background, well thanks for the effort big man but don’t let the door hit you on the way out”
If true Lukas must be given the keepers spot and Dominic a place on the bench and more imoportantly PL should make every effort possibel to bring Artur home.
Fraser if you do leave you have our sincere thanks as well as our best wishes for you future career. But WTF big man!!!
twists n turns on 20 April, 2012 at 11:29 said:
st stivs
———-
cheers bud, i will bet your wee tips as well.
havnt won anythng at ayr in last two trips there, infact ive been spanked.
Margaret McGill @ 6.06 am,
Pickerington….
Big Davy Weir must have felt guilty sitting there staring at his crystal vase or whatever not exactly what you would call a burst the bank farewell gift after all those years……….unpaid for as well……………….still could have been worse… just as well he didnt get a testimonial..they probably wouldnt have given him the money…..hees no daft is our big davy