Lord Nimmo Smith’s Scottish Premier League’s commission made clear their remit and the bounds on their decision:
“The Tax Tribunal has held (subject to appeal) that Oldco was acting within the law in setting up and operating the EBT scheme.
“The SPL presented no argument to challenge the decision of the majority of the Tax Tribunal
and Mr McKenzie (solicitor acting on behalf of the SPL) stated expressly that for all purposes of this Commission’s Inquiry and Determination the SPL accepted that decision as it stood, without regard to any possible appeal by HMRC.
“Accordingly we proceed on the basis that the EBT arrangements were lawful. What we are concerned with is the fact that the side letters issued to the Specified Players, in the course of the operation of the EBT scheme, were not disclosed to the SPL and the SFA as required by
their respective Rules.”
On this basis, Lord Nimmo Smith’s commission found that a legal tax loophole, inappropriately administered and which broke SFA and SPL rules, did not amount to a sporting advantage.
The Commission was clear their determination was bound by the Tax Tribunal and not influenced by the possibility of a successful HMRC appeal. We have no ruling on today’s question – whether a decade-long illegal tax regime conferred sporting advantage.
In noting their thoughts so clearly, the law lords opened the door to a subsequent determination based on a successful HMRC appeal.
The SFA and SPFL (previously known as SPL) must now address this question.
It is worth noting; SFA and SPFL officials have been trying to steer media away from looking into their affairs. These executives have no power on this matter. The clubs will determine what happens, not those watching their own hide.
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Cowiebhoy
Assume we are on newco now :-)
Do you have a link to the accounts and I will tell you what I can from the info available.
£5m will be due to SD at least.
HH
CRC
Cowiebhoy…
RWE, posted earlier from the johnjames blog the breakdown.
Think it’s his third blog back. HH
Haha haha hahahaha
Haha haha hahahaha
Just had to get that ooot :-)
Quonno
Celtic are always wide open to critiscm no matter what they do.
A few years ago we had some very strident posters demanding we “speculate to accumulate” or else rangers (il) would leave us in their wake as they conquered all before them. Not one of those posters has ever admitted their mistake, but they show up at every defeat to tell us how Peter Lawwell and the board have deliberately weakened Celtic to either 1) line their own pocket or 2) help the huns back (sic) into the top league.
So you will forgive me if I do not call for a Celtic statement or else.
mullet and co 2 on 4th November 2015 10:48 pm
Interestingly you mention NL.
I believe that in the past he has implied he would have something to say if it turned out that he had been cheated.
Then again he once said that he would tell us what Fat Sally said.
Celtic should arrange to take all the thirsty, garrulous, skint , embittered former players out to Lisbon for a few days while this issue reaches a tipping point.
Media Bhoys – stick to the facts, please. They cheated us and they cheated the Sport of football in Scotland.
OWEN on 4TH NOVEMBER 2015 10:53 PM
Quonno
Celtic are always wide open to critiscm no matter what they do.
All the more reason to do something.
But if we forever prefer the back of the bus, good and well.
– See more at: http://www.celticquicknews.co.uk/nimmo-smith-commission-noted-unlawful-tax-affairs-beyond-their-remit/comment-page-2/#comment-2711216
Sipsini
Yes that where I got the figures from
CRC, I have no idea where to see their accoooonts
That Johnjames chap quoted a loss of £7.5m this year, out with the £5m loan, and another loan for £2.5m. It needs added to last years loss of £8.1m
So a total loss of £15.6m over last 2 years, and not including the loans
How is this being funded, and sustained
Still praying they never ever get to play us
And Celtic should never ever agree to play them anywhere else, ever
Owen, Regardless of my previous posts, I full respect your right to hold opinions that differ from mine.
Dr Ramesh
Cold room, sounds just like what I am about to face when I leave this bar :-D but opening a beer from the fridge just might cause it to go volcanic all of a sudden.
Has anyone in MSM yet questioned why SFA has nothing to say about a second division club with previous form, running up millions of pounds in losses?
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Hahaha…let’s bury our head in the sand.
Volcanic beer is an occupational hazard ;)
Just be quick with your glass!
I would not like to be Neil McCann’s sphincter in the coming days (not that I have ever wanted to be in the previous days, let’s just be clear about that). I have a feeling it could all get very personal for the former EBTers
COWIEBHOY on 4TH NOVEMBER 2015 10:44 PM
CRC
Any ideas who they owe the losses of near enough £16m too ?
Tried to sneak that one oot the day
———-
Think it’s £5m to SD and £3.75m to the King consortium. The rest was cash in the bank (from Green’s share issue) burned.
It’s a new club only 3 years old, that is running up these huge losses
COWIEBHOY on 4TH NOVEMBER 2015 10:57 PM
Sipsini
Yes that where I got the figures from
CRC, I have no idea where to see their accoooonts
That Johnjames chap quoted a loss of £7.5m this year, out with the £5m loan, and another loan for £2.5m. It needs added to last years loss of £8.1m
So a total loss of £15.6m over last 2 years, and not including the loans
How is this being funded, and sustained
Still praying they never ever get to play us
And Celtic should never ever agree to play them anywhere else, ever
Celtic never agree to play them again!
And my local nnewsagent has solemnly assured me that he has just sold me the winning lottery ticket.
– See more at: http://www.celticquicknews.co.uk/nimmo-smith-commission-noted-unlawful-tax-affairs-beyond-their-remit/comment-page-2/#comment-2711222
Quonno
That goes without saying on this blog.
If we all agreed about everything it would be hellishly boring. Some people might even start posting beer temperature tips.
I wont believe it till I see the marble staircase crumble!!!
Regards Thomas H H
Just on,
will we have a shareholder ask for a resolution to claim back cheated titles &millions at our AGM,
Unless Celtic lead the way on this nothing will happen,
O.G.Rafferty
Are you saying that HMRC are going to get medieval on his ass?
Is that where he keeps his ill gotten gains?
So who’s the Gimp?
Cowiebhoy
The losses will be funded from Loans from SD, soft loans from directors/others and not paying bills to creditors.
Simply cannot be anything else as apparently no bank overdraft or loans or share issue fund raising!
HH
CRC
O.G.RAFFERTY on 4TH NOVEMBER 2015 11:01 PM
I would not like to be Neil McCann’s sphincter in the coming days (not that I have ever wanted to be in the previous days, let’s just be clear about that). I have a feeling it could all get very personal for the former EBTers
Have wondered about whether or not HMRC would pursue recipients.
Might be difficult to get foreigners into court.
– See more at: http://www.celticquicknews.co.uk/nimmo-smith-commission-noted-unlawful-tax-affairs-beyond-their-remit/comment-page-2/#comment-2711228
A £7.5 M loss is nothing – according to Chick Young Celtic are losing £1M a month.
#Chiconomics
Look Lance we know we never caught you when you were cheating, but we now know what you were up to, so titles stripped, unfortunately nearly everyone else was at it so we don’t know who to give them to.
Look Rangers we know we never caught you when you were cheating, but we now know what you were up to, so titles stripped, oh look it appears everyone else was playing by the rules, who finished second? 51-49
OWEN on 4TH NOVEMBER 2015 11:03 PM
Quonno
That goes without saying on this blog.
If we all agreed about everything it would be hellishly boring. Some people might even start posting beer temperature tips.
Pious Peter that I am, I haven’t had a swally for thirty five years so I can’t help you on that one.
– See more at: http://www.celticquicknews.co.uk/nimmo-smith-commission-noted-unlawful-tax-affairs-beyond-their-remit/comment-page-2/#comment-2711234
The Tim Reaper
Yes there could have been cash left over from Charlie bhoy Green, although not much if “big hands” would have been happy leaving untapped cash when he left :-)
HH
CRC
johnjames latest, I’m going to my kip kip with my Jack Nicholson smile on…..
Eight pm must be the new Statement O’Clock. Monsieur Graham’s latest opus is so weak that I wonder how many of my fellow supporters will accept it. Stand by to suspend reality:
“WE WOULD like to correct some misleading information that has been circulating on what is described as the “Big Tax Case”.
For the avoidance of doubt, Rangers have not lost the case. There is no question of any liability impacting on our Club, its history or any member of the Rangers International Football Club plc Group.
The Rangers Football Club and the entities which currently own and manage it are not party to these proceedings nor do we have any say in what happens. The proceedings are a matter for those affected by them.
We note that the assessments for tax which were the subject for appeal and which are referred to as the Big Tax Case relate to Murray Group Holdings Limited, Murray Group Management Limited, The Premier Group Property Limited, GM Mining Limited and RFC 2012 PLC (in liquidation).”
The history aspect is interesting Monsieur Graham. Are you stating that the 13 titles won using a tax evasion instrument, were not won by the current club? Today’s judgement most certainly do impact on our history as they reclassify EBT as tax evasion, which is illegal Monsieur Graham. Attempting to sweep any liability into RFC 2012, a corporate vessel set up to contain debt, would imply that BDO own the 13 titles that were won during the EBT years. Is this your position Monsieur Graham? You are not very good at this PR game. Why don’t you call up your chum prior Stephen Kerr prior to your next statement.He has worked for the club for more years than you have spent minutes, and it shows.
I will give the final comments on the unedifying debacle of your statement, to Graham Spiers:
“The judgement of illegal activity by Rangers – if or when this saga is concluded – will leave an ungodly mess to be sorted.
The club paid the ultimate price in 2012 – liquidation. That event has left Scottish football poisoned, with acrimonious debate about Rangers’ history going into overdrive in recent years. But the “newco Rangers” – whatever your interpretation of that – will not be financially affected.”
A guilty Rangers – if this is the end of the matter – also leaves the Scottish FA in a precarious position. Retrospective title-stripping looks a futile business to me, but it goes on in other sports, and the SFA stand accused of being timorous in the face of the wrongdoing.
Is title-stripping an option? Yes, it is, though I wouldn’t assent to it. The misdeeds have been done, and Rangers FC paid a high price.
What is to be gained in trampling back over history and spearing a liquidated football club with further punishment? There always will be an asterisk in the public mind beside these dodgy Rangers years. I cannot see the benefit in the retrospective expunging of trophies.”
There is a certain arrogance in your statement Mr Graham. At this point I posit that we proceed with a quiet understated humility. Inflammatory statements like yours, may well incite others to boycott their clubs next season unless they confront the SFA. The least said about this matter by Rangers, the better. You were much better at cartoons, why don’t you revert to your first love?
When we put together the Sunday Herald ad at the start of the year we had to go through an unbelievable amount of hassle to get the copy approved by the paper, their lawyers and also those folks associated with the ASA.
Later we assisted Auldheid when he wanted to do something similar for Res 12 but this time it got nowhere as the lawyers were shooting the text down.
Things are now different and we can deal in hard facts and rely on three judges at the highest civil court in Scotland.
The MSM will be spinning as soon as the shock wears off and it will all be about 11 v 11, best team won and so on.
We achieved global publicity exposing the same club myth – and the judges referred to ‘the former Rangers Football Club.’
Might be time to get active again and make sure that the cheating is reported down south and around the world.
O.G. Rafferty 11:01
Gooooooooooood nuthing is too bad for that we runt McCann,
If HMRC are going to chase the liquidators, will BDO ln turn chase the player X save HMRC the bother?
CRC
That Johnjames quoted the losses would have been near enough £16m this year alone, had it not been for the SD loan, plus another loan, then the sale of some superstar for £800k
Struggling to understand how with credit line they have lost £7.5m, how is this funded ?
Praying Sevco go the same way as that other liquidated mob, never to be re-incarnated though
Off to bed.
However, dead cwertain that if Celtic don’t do anything, nobody else will.
DR RAMESH AND THE LOVE POTION, 11:04 PM
sitonfence says:
November 4, 2015 at 7:42 pm
The rulings state that income tax, not the club’s NI responsibilities, should have been paid, even though the first invokes NI. Income tax is the responsibility of the individual, not the employer. Sit back and watch HMRC pursue individuals.
Dannymac on 4th November 2015 11:00 pm
“FOR THE LADIES
Users on the website have asked us to produce pink shirts for women – on researching the supply we found very few manufacturers produce many shirts in female sizes and in any case over 90% of sales to female fans are in traditional males sizes.”
——————————————–
Or in other words, hun burds are also size XXXXXXXXL – yeah? :-)
W.C
i’m in
Gooooooooooood night all
remember remember the 4th of November
Winning Captains
Oh goodie, another crowd funding event :-)
I’m in
Hail Hail
The perfect Newco/Deadco same history analogy
https://www.youtube.com/watch?v=BUl6PooveJE&app=desktop
HH
CRC
CRC
Mind Chuckles left £9m from his share issue for ‘essential works’ to repair the crumbling doomdome. He was just that kind of guy.