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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Jobo ….
You have been flushed out as a Hun.
FUNDRAISING Rangers fans have settled a club debt to East Kilbride firm Glencairn Crystal.
The News reported last week that the cash-strapped Ibrox side still owed £354 to the Langlands-based glassware company for a personalised leaving gift for departing captain David Weir – three months after he quit the club.
However, as we went to print last week, Ibrox fans Tom Clark and Alfred Nicholson walked into the firm’s headquarters unannounced and handed over the cash to bewildered managing director Paul Davidson.
Paul said, ” One of them muttered something about the weather in East Kilbride and left after leaving the money.”
Art of War @16:22,
”When liquidisation announcement is made by Duff & Duffer, I hope they do it in style and finsih with………..”
Superb
Or…….
And here comes Whytey……..
He’s got it.
Some people are on doing a pitch!
They think it’s all over!
It is now…………….”
Coatbridge broke off diplomatic relations with Belfast when NI state was formed.
Paul67 & Chairbhoy – they have not only demonised the one guy to do a deal with they have also demonised the only viable way out of this mess.
Paul Murray and Co scweaming at the papers with their anti-liquidation stuff has blinded their fans to the best option they have to actually have a club, in blue, playing at Ibrox like Our Hero promised.
Murray and Co will know fine well that liquidation is the best way out. Their hubris borne of P Murray’s guilt in his previous role has driven their club to a position where it is far from inconceivable there will be no Rangers at all next year.
They should never be in the position they are in. Never. They are behaving like 8 year olds running around terrified about their dad coming home and finding out the greenhouse window has been broken, trying to cook up infantile schemes to hide the fact.
Man up and deal with the problems head on.
I am loving it.
rt rev david hay at 15:55:
“celtic lost the last ever old firm derby”
————————-
To extend what Awe-naw was saying when they go bust, when they are properly investigated for the dual contracts we will have won every derby game against them 3-0. Except the 6-2 and 5-1 games. I really wouldn’t want to give them up. They can keep those ones.
Intersting thought. Which of the three goals would we give up in the 6-2 game?
Have to keep henke’s wonder goal, petrovs header was a favourite. Loved Lamberts drive. But I also liked Sutton’s first and indeed last…..
Was behind the goal at the Rangers End that day, very near them ‘uns. Can picture it like it was yesterday. Still see the face of a guy with a 1690 flag and a penchant for Nazi salutes who seemed to want to single me out for attention – I enjoyed waving to him as every goal went in.
Remember the tension as they got a goal back. 12 years of meek surrender had taught us not to get carried away and indeed made us (and I think still makes us) an anxious bunch sometimes. The 6th goal saw me relax.
That same year my first child was born (no connection, he was already on the way!!) and I thought on the pleasure I would have of telling him ‘I was at that game’ and the pleasure of him telling his pals – my da was there and being able to describe the feeling of walking on air almost in disbelief at the score line and knowing, Narnia style, that the long winter was over, the witch was dead and the mighty Celtic were back.
What a day. My generations 7-1 game. Always loved the stories from my Dad about Hampden in the Sun and being a teenager in the late 80’s early 90’s I feel I had experienced what it was like for the 50’s and early 60’s generation – so many false dawns and too many defeats to talk about.
St Stivs
The helicopter’s in getting serviced and I lent the daimler to Craig Whyte last time he was in town – never seen it since…
U
skysportsnews about to highlight Motherwell. v Celtic game with additional security dogs etc. bet a trial for summer games.
ulysses mcghee on 19 April, 2012 at 16:38 said:
St Stivs
——————–
best of luck with finishing the kitchen.
its taken longer than a Rnagers Administration event.
I would caution against CW being seen as a hero for us bhoys .
IMO he was sourced to take them down and at the same time get rid of all tax debts and future revenue stream deals ,polis ,councils ,charities and florists were just cannon fodder and loose change .
As my view is that liquidation was the plan from the start then it is still going well .
The only thing that would lead me to believe that CW may bring a smile to my face is ,if he smelt the cash ,got himself set up and double crossed his masters .
IMO CW will sell his shares to the peepil his master has lined up ,they all get a slice of the pie and HMRC and everyone else gets royally stuffed .
The tricky part of the whole set up was convincing the Scottish fooball paying public that the new clean debt free ragers is essential for the top flight .
Over to you CO (CHEATS CHARTER) and the MSM/LL .
They need the seed of Satan to be playing in the spl for them to appeal to any buyers/bears they don’t do 2nd very well ,don’t you know .
Any word from Hampden regarding our Neil?
Chairbhoy on 19 April, 2012 at 16:35 said:
Art of War @16:22,
”When liquidisation announcement is made by Duff & Duffer, I hope they do it in style and finsih with………..”
———————————————————
‘Would the last one to leave please turn out the lights…….’
or maybe a big musical number
‘And now, the end is near, and so we face the final curtain…..
We found the bills too dear, and now we’re dead, we’re pretty certain…..’
TimsinOhio ( formerly TimsinYYZ ) on 19 April, 2012 at 16:40 said:
Any word from Hampden regarding our Neil?
======================================
Yes, they are pretty certain he is a fenian bassa and their gonnae get him…..
RobertTressell on 19 April, 2012 at 16:37 s
I went to the 1.5 game with two bears and spent the next 24 hours with them
The day that is reversed tehy get an international call :-))))))))
Bill Ng could he be walking away? none to happy it seems
Singapore’s Bill Ng has expressed frustration over negotiations with the main creditors of Glasgow Rangers, accusing them of tripling their asking price and ‘not treating foreigners right’.
But the chairman of S-League club Hougang United has stopped short of saying that he will pull out of his bid to buy the Scottish football giants, who entered administration last month following tax disputes.
His five-man consortium appeared to be the front runners to take over the financially stricken club, after the heavily fancied Blue Knights group withdrew from the bidding race on Monday.
‘Despite all the talk of us being the favourites, I’m very frustrated because of the way Ticketus is treating us,’ Mr Ng told The Straits Times in an interview from London on Wednesday.
Ok, rumours are flying that the big day is tomorrow, should I be booking a hall and stocking up on kiddies desserts?
RobertTressell on 19 April, 2012 at 16:41 said:
Yes, they are pretty certain he is a fenian bassa and their gonnae get him..
Wasn’t expecting that. Thanks. Coffee over keyboard and laptop screen……
Kojo,
Thanks for that.
If we decide to go, I’ll nip down to your neck ‘o’ the woods
and buy you a pint.
My wife says it works out cheaper to go to L.Vegas than Salou in Spain.
Go figure.
SPF
Yer Pal
Ulysses,
Dont know why – but news of your saga with the sink always makes me think of this…
http://www.youtube.com/watch?v=uSF5DVhEuUg
Turn off your mind relax and float down stream
It is not dying, it is not dying
Lay down all thoughts, surrender to the void,
It is shining, it is shining.
Yet you may see the meaning of within
It is being, it is being
Love is all and love is everyone
It is knowing, it is knowing
And ignorance and hate mourn the dead
It is believing, it is believing
But listen to the colour of your dreams
It is not leaving, it is not leaving
So play the game “Existence” to the end
Of the beginning, of the beginning
RaRaRasputin @ 16:30,
”…….. A man of substance, I’m sure you agree, and one worth every penny he is due.”
As one of the more vociferous supporters of our hero, I totally agree.
He may not have received his insolvency experience tied to a desk down in a basement for Cork Gully or the like but the school o’ had knocks can smartin’ you up none the less.
Hail! Hail!
ssn. motherwell v Celtic security dogs at game trained to sniff out smoke bombs.
Ra Ra Rasputin
Oakley Hall —– Warlock .
Remember reading it whilst skiving on a summer / night shift job in a plastics factory in Wapping in the late 60s . It didn’t strike me as being The Great American Novel..
The Movie [ Richard Widmark / Henry Fonda] is bog standard wet Sunday afternoon fare .
I remember the great Thomas Pynchon heaping big praise on Oakley Hall’s play writing son [ his name escapes me ]
Awe Naw
Have you covered that Beatles track on Facebook yet?
Shut that door
Can a third party legally clear a debt?
If you are a business that is owed money from RFC PLC (ia) and a supporters’ group sends you a cheque, does that cover it?
Or can you just say thanks for the donation, but my invoice to the club still stands?
Not another round of rumours . . . I’m too jaded to get excited. Too many false dawns. I won’t be surprised to see them still in the SPL at the end of the season, bleeding to death but still alive.
Fingers crossed NL had a good day.
Any Predos ,Regarding..
The Length of Punishment that Neil Wull be Handed , fur his
injudicial escapades??
One Month. as a Spectator?
Two.. or. Three.. or Four or Mair?
Ah wull tak a Stab at
Predicting..
One Month Ban.
Let’s Hear whit , you,dear Reader.. wull essay. as a Predo.
Kojo
Still, Laughin’
Awe_Naw_No_Annoni_Oan_Anaw_Noo on 19 April, 2012 at 16:41 said:
RobertTressell on 19 April, 2012 at 16:37 s
I went to the 1.5 game with two bears and spent the next 24 hours with them
The day that is reversed tehy get an international call :-))))))))
=====================================================
It will be nice to have fond memories of watching Barnes’ Celtic win easily against them uns and then Kenny Dalglish taking over (despite Barnes having a massive lead in the league – one slip up in the Cup cost him you’ll remember) and whipping them roundly at Ibrox. What a season. Strange how Barnes never made it after such a sensational start to his career………
Tony Mowbray was another manager who had a great record against rangers but couldn’t raise the team to beat the lesser lights. Shame. He really could have done well at Celtic. But winning the league by a massive margin is not enough at Celtic. You have to beat them by 3 clear goals regularly or you are gone…..
So many new memories!!!!
SOAL
you really want to hear hungover sitar ? ;-)
LarryCSC
RobertTressell
It will be far more enjoyable and accurate to retell all those 3 nil wins
:-))))))))))))))))
Hail Hail
Is there an engraver sitting somewhere right now scratching his head wondering how you turn Rangers into Celtic on a piece of silver plating?
Kojo on 19 April, 2012 at 16:49 said:
Any Predos ,Regarding..
===============================
A 12 stretch in BarL with no early release for good behaviour.
reduced to a three match ban on appeal and someone removing the Grand Wizard from the disciplinary panel…….
Oh it’s opening time
Down on fascination street
So let’s cut the conversation
And get out for a bit
Because I feel it all fading and paling
And I’m begging
To drag you down with me
To kick the last nail in
Yeah, I like you in that
Like I like you to scream
But if you open your mouth
Then I can’t be responsible
For quite what goes in
Or to care what comes out
So just pull on your hair
Just pull on your pout
And let’s move to the beat
Like we know that it’s over
If you slip going under
Slip over my shoulder
So just pull on your face
Just pull on your feet
And let’s hit opening time
Down on fascination street
So pull on your hair
Pull on your pout
Cut the conversation
Just open your mouth
Pull on your face
Pull on your feet
And let’s hit opening time
Down on fascination street
RobertTressell
It was Dr Jo who beat them 5-1. Mowbray didn’t have a good record against Rangers. Did he not win just one match? I think we only played 3 games with him at the helm.
LB
Kojo – I predict a 10 game ban.
I don’t think liquidation before the end of the season suits anyone but rangers. Please lets keep it spun out for another month. Death in the summer is much better for all concerned.
Awe Naw
It was either watch you live from the bhoys room or your cousin dancing about the living room during the grand national.
John Williams wins for me
LiviBhoy on 19 April, 2012 at 16:52 said:
RobertTressell
It was Dr Jo who beat them 5-1. Mowbray didn’t have a good record against Rangers. Did he not win just one match? I think we only played 3 games with him at the helm.
LB
—————————————–
Think you missed the joke Livi – if rangers are shown to have played players with 2 contracts then every game they played in will be awarded 3-0 to the opposition!!!!
Seemingly the media team at Ibrox have gone all ‘High Brow’ to advertise their tours of the Stadium and trophy room with the slogan:
Carpe diem – Seize the Day
But have added
Cause You Might No See Us Ra Morra