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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So that arrogant turd mark guidi says Lennon is like the boy who cried wolf, he needs to pick and chose when to criticise officials, otherwise it loses its impact! – WIT!!!???
Also goes on to say referees, get together and talk, and pretty soon Celtic will get nothing, from them…Don’t these people understand that all we want is fairness! just honesty and fairness!….Utter TOSH!
Player rebellion at ibroke
“I don’t think they will be making any more sacrifices.”
“We are only a few weeks from the end of the season at which time players’ wages will legally revert back to what they were before cuts,” said Wishart.
There is a lot of talking to be done and the players are getting frustrated
Wishart says the union is seeking legal advice because it believes players will be free to leave Rangers if they are liquidated and relaunched as a “newco”.
Jobo-C5 Sporting v Bilbao,ESPN -Athletico Madrid v Valencia
liquidation coming soon bhoys maybe sooner than we think
did guidi just say that the govan tax dodgers wud liquidate within days if pref bidder not id’ed by tomoro?
Bada Bing –
Thanks for that. Think I’ll go for the Hoops of Lisbon.
Jobo
Is there anything to stop a newco huns starting off in the first division?
I suspect that’s the kind of level of fudged compromise we might end up with.
Two bits of ‘bad news’ the media have not had a chance to spin yet.
1. D&P tell Kennedy ‘You’r having a laff **** off.’
2. Rangers players pay cut is only to 13 May only four weekends away. Those who are out of contract this year could still be entitiled to and want their full pay entitlement until 30 June
PFA Wishart suggested that if a newco is formed then the existing contracts will still stand. Therefore if they want to keep some top players someone D&P, Newco anyone’s guess, will have to pay the top dollar wages they are on. You know the ones that make them loose £1m a month at present.
I love bad news don’t you!
Their a few rules that will need too be bent ……snyde……..they really are a pathetic shower…..Scottish Football ……….? We need to get out of this cesspit…..AS SOON AS HUMANLY POSSIBLE…..
googybhoy 18 18
forgot to mention a plus point,had a few pints in the Vale masonic(in laws) do anything for a cheap pint,doesent make me a bad person
!!Bada Bing!! on 19 April, 2012 at 18:41 said:
Jobo-C5 Sporting v Bilbao,ESPN -Athletico Madrid v Valencia
……and in Ireland it is on TV3.
My boy hosts the prog.
Lenny does not get punished for Ibrox tunnel but 2 match ban for Semi final?
So the Blue Knights were about to be named as preferred bidders – then they stepped back. Then it was Bill Ng – and he is walking away.
Is this a game of chicken? Loser gets the club??
Alan Thompson gives the ‘thumbs up’ leaving the meeting……mmmmmmmm
Raman Bhardwaj @STVRaman Reply Retweet Favorite · Open
Neil Lennon receives 2 game for cup final comments. Cleared of Ibrox tunnel incident.
2 Game ban for Neil Lennon.
No bad.
so they have told lies again then Stephen
JOBO BALDIE 1837
Join the club,mate.
Over three years without being called it-despite some serious provocation,I might add-until recently.
The reward for Estadio and myself for backing TIMABHOUY’s GOD BLESS…… posts was for him to ask that question!
It made me smile,which is rare!
cup final sorry
bbc scotland sport —-no verdict as yet
whitecrook tim on 19 April, 2012 at 18:44 said:
Confessions for you my bhoy.
Hail Hail
Neil
No verdict yet! Tribunal broke off at 6
2 game ban.
BT
Yes indeed and i for one hope our club are going to take this matter further
If this is true, I’m putting on my chemical suit and having a peek on FF. I predict a riot!
alex thomson @alextomo Reply Retweet Favorite · Open
Nothing confirmed but Admin did say they hoped for preferred bid by tmrw – of crse SPL new rules may scupper that
EN
no bad? bloody disgrace..
lies again, will they continue to do so..?
those two cheats should be banned
matt mcglone @MattMcGlone9 Reply Retweet Favorite · Open
Vincent Lunny the SFA man took Lenny’s QC Derek Ogg outside of today’s hearing to sort it out, such was the mess about to break for the SFA
The plot thickens
If Neil has been cleared for the tunnel ‘conversation’ this won’t be over tonight.
HT,
Source?
2 game ban for neil-for the Killie game
Nothing for Ipox!!!!!
Go Neil! Go! Inte thems!
HH
Stephen Black ……. Not acceptable ……. He should be getting a medal for exposing the anti-Celtic SF Establishment, as highlighted by the bhun implosion and the SFA board members who were part of it all ……absolutely sickening ……..CELTIC WNWA
Looks like the beaks couldnae quite do Neil as much as they would have liked.
If cleared of the tunnel incident,he should pursue the reasons why conflicting accounts-ie,someone was lying once again-was even permitted to be used as the basis for a charge.
Timsinohio
Tweet from Raman the hun.
So Brines and Murray effectively lied.
whitecrook tim on 19 April, 2012 at 18:44 said:
googybhoy 18 18
forgot to mention a plus point,had a few pints in the Vale masonic(in laws) do anything for a cheap pint,doesent make me a bad person
*only been in there once, it was for the coronation and I was 5, got a free meal if I can recall and then won a race in the Christie Park, it can be seen in a video about the Vale.
BTW the oul Vale of Leven CFC bus used tae leave fae doon the road fae there.
A ref lies about what a manager said to him?
Yet we are supposed to trust our “impartial’ referees?
Bada Bing & Richie
From RTC earlier today
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_790386.html
Maybe they have been peeking at the internet bampots again :)))
HAIL HAIL
Brines + Murray should both be fired with immediate effect
Once again, a Scottish referee tells LIES about a Celtic manager