Quantcast

FTT Verdict, Trust payments construed as earnings

193

An anonymised version of the First Tier Tribunal verdict was published by the Finance and Trbunals service today.  The 145 page document will take some reading but it concluded:

“the trust payments are to be construed as ‘emoluments’ for the purposes of the tax legislation”

For those without a dictionary to hand,… Emoluments: Synonyms earnings, pay, recompense.

I for one am absolutely shocked that Sir David’s confidence was misplaced on this matter.

Enjoy the game!

“having ascertained the real nature of the transaction, you cannot … disguise it by using camouflaged clothing”

Sham

‘it is wrong and an unnecessary self-limitation’ not to give regard to ‘the manifested intentions of the parties’ in the face of documents or transactions that are not ‘shams’

Orders are now open for the very first CQN Annual, get it here!

[calameo code=0003901717b03ef5e64cb lang=en page=100 hidelinks=1 width=100% height=500]
Click Here for Comments >
Share.

About Author

193 Comments
  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6

  1. First impressions:

     

     

    Red and yellow and pink and green, purple and orange and blue,

     

    the are all tax dodgers, tax dodgers, and liars too

     

     

    Listen with your ears, listen with your eyes, and tell everyone you see,

     

    they deserve five years in the slammer, reduced on appeal to three .

     

     

    Red and yellow and pink and green, purple and orange and blue,

     

    Strip them of their honours and their knighthoods, take their assets too.

  2. Why is all news outlets reporting the dead club won their tax case but CQN is indicating something different?

  3. Rangers Tax-Case @rangerstaxcase 11m

     

    Rangers FC’s ENTIRE use of the EBT scheme has been deemed to be ILLEGAL.

  4. The Spirit of Arthur Lee 15:50

     

    Cluedo meets Reservoir Dogs

     

     

    ++

     

    Clowns to the left of me

     

    Jokers to the right

     

    Here I am

     

    Stuck by the HMRC

     

     

    The Onlooker

  5. Rangers Tax-Case ‏@rangerstaxcase

     

    Reading again- this is saying Appeal Allowed. This will be appealed but it looks like RFC have actually won.

     

    Expand Reply Retweet Favorite

  6. Kayal33

     

     

    maybe because Mr67 has a fair grasp of the english language and is able to read and understand the document, whilst the media outlets are

     

    well the media

  7. Rangers Tax-Case‏@rangerstaxcase

     

     

    Reading again- this is saying Appeal Allowed. This will be appealed but it looks like RFC have actually won.

  8. Is BFDJ back on mike duties tonight? Brought in to explain the complexities of a 144 page FTT finding. AND translate into Layman’s the subtle nuances of a league reconstruction which involves many things – but mainly the END OF THE SPL – you that SPL that the The Rangers won’t set foot back in? Yeah? THE END OF THAT SPL!!!!!!!!!!

     

     

    And Mister Sir David was duped!!!

     

     

     

    U

  9. RTC ‘Rangers FC ENTIRE use of the EBT scheme has been deemed to be illegal.

     

     

    Thomo ‘in other words a lot of former Directors-the men who walked away-may have to pay up like the PAYE world does.

  10. tom,

     

     

    would love to but gotta hit the road silly early 2moro….hotel in B’ford…am 80 miles away in Lancs, here till 6.

     

     

    Thanks for the offer:)

  11. SmashingMilkBottles on

    And news reaches the tims celebrating in the big square in Lisbon….the Huns have lost again. hilarity ensues…..

  12. bournesouprecipe 16.01

     

     

    That about sums it up.

     

     

    Strange decision but HMRC will most likely appeal the verdict.

     

     

    Of course we can all see how this will be spun over the next few days….

  13. SmashingMilkBottles on

    Matt E says he’s painting the town red tonight……

     

    could the treble be on

     

    FTT? yes

     

    Barca to beat Spartak

     

    Draw or win for the hoops

  14. TT – according to Celtic Bars…..

     

    BRADFORD – THE LORD CLYDE 86 THORNTON RD, BD1 2DG (Tel: 01274 734546)

  15. playfusbal4dguilders – that is a perfect result. Dozens of loanees suing Murray et al for bad financial advice etc. It’ll all come out now.

  16. Awe_Naw_No_Annoni_Oan_Anaw_Noo on

    More weekend reading.

     

     

    Play Broonie and Sammi tonight …. Let them know their medal count has just increased remarkably.

     

     

    Mon the hoops.

     

     

    HH

  17. cavansam

     

     

    Of course, the irony of it all is that they died for over non payment of debt, and the BTC wasn’t the cause of death.

     

     

    None of it really matters as you only live once.

  18. Gordon_J backing Neil Lennon 16.08

     

     

    Yep, will it be the liquidators job to chase these people on behalf of creditors?

  19. Gordon_J backing Neil Lennon

     

    16:08 on 20 November, 2012

     

    What’s going on? Seems to be being reported that EBT payments were loans – so does that mean that 100+ people will be chased for repayment??

     

     

    And repayment to who? The company who provided loans has been liquidated

  20. TT – I just called using this number but it rings out.

     

     

    Address: 86 Thornton Road, Bradford, BD1 2DG

     

    Phone: 01274 371 848

     

     

    If you change your mind give me a shout. We are on the Bradford side of Leeds so not too bad for you.

  21. Perfect result, proves there are sevco and rangers, rangers are ‘owed’ money and sevco won’t see a bean.

  22. brnobhoy

     

     

    Wouldn’t head to the Granby at Shaftsbury Ave if I were you – closed a few months back. Sad to lose it.

     

     

    Sheepshaven (Camden) or White Bear (Kennington) would be your best bet to watch it with some company.

  23. Rangers Tax-Case ‏@rangerstaxcase

     

    Read page 58 – holds that advances to certain players are taxable i.e. these players were no legally paid.

     

    Expand Reply Retweet Favorite

     

     

    Rangers Tax-Case ‏@rangerstaxcase

     

    @CelticResearch Exactly the para I was referring to in page 58. Players were illegally paid = not registered.

     

    View conversation Reply Retweet Favorite

  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6