We have spoken before that preliminary positions are being established ahead of the much-anticipated outcome of HM Revenue and Customs tribunal against Rangers with the possibility that, in the event the decision goes in favour of HMRC, the company could go into liquidation. This weekend brought a fresh attempt to pitch a positive scenario in favour of Rangers.
One newspaper sought solace in the case Parma, stating that the Italian club was allowed to re-emerge in Serie A after going out of business in 2004.
Unfortunately this is a complete misrepresentation of the facts, as far as Parma is concerned, precedent points to an entirely different outcome. Parma went into administration on 28 April 2004 after Parmalat, the dairy company which owned a majority of their shares, also went into administration. Parma remained in administration for three years before emerging after a successful restructuring of their debts. The club was then bought by a new company – but crucially – continuity of football operations was possible because there was no liquidation and debts were restructured in a way consistent with prevailing administration laws, that allowed a company to continue trading.
This, however, is not the end of the precedent Parma can offer Neil Doncaster and his SPL board. In 1968 AC Parma went into liquidation and disappeared from existence. They are an ex-football club, to use a phrase I can see creeping into the local lexicon soon.
Shortly after the failure and permanent disappearance of AC Parma, another club, AC Parmense, who were newly promoted into Sere D, changed their livery to match their better known former-neighbours and changed name to AC Parma. It was this club, AC Parma-formerly-known-as-AC Parmenese, who were promoted through the divisions and went on to win three European trophies.
Precedent from Italy is clear: if a large SPL club is liquidated an opportunity exists for Clyde FC to change their name, ditch the white shirts, rent a large, vacant, stadium and try to work their way through the leagues. Just as Airdrie United-formerly-known-as-Clydebank, are attempting to do.
There are no free tickets to the elite level of Scottish football.
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I’m actually away to iron Declan’s Primary school clothes and tie for tomorrow.
Declan, stay out of that cupboard.
Can’t keep chocolate biscuits in this house, you know.
Bye!
DBBIA 1439
LOL,TAL,etc.
If Celtic turned into a Football version of the Harlem Globe Trotters, I would still go and watch them.
I go to watch Celtic and could not give a monkeys who we play.
I want rangers punished, I want them wiped out!
The bares better get that into their thick skulls…
Speaking of which
HMRC using the rangers case as a test case to pursue bigger fish. Your going down rangers, no deals, no Newco. Auld Lizzie wants wants her money…
Leading football clubs are being heavily targeted by HMRC over perks afforded to players and WAGs – partially because the taxman has already received information and tip-offs relating to major financial discrepancies at at least one top Premier League club, Sportingintelligence can reveal.
The finance directors at all Premier League were recently sent a questionnaire containing 181 questions looking closely into the financial affairs of the clubs and players, specifically the issue of perks, as HMRC looks to crack down on blatant abuses of the system.
A well-placed tax source told Sportingintelligence: “We’ve picked up from a variety of sources that there are issues that may be of concern to us. Football is a cash rich industry at the top end and that raises its risk assessment.
“HMRC has found big discrepancies in at least one club and they now want to make sure these discrepancies are not widespread”.
Another major driver in the offensive on football is the hardening attitude of Government ministers that tax avoidance is unacceptable and that everyone should be paying their share in testing times.
Some critics of HMRC believe a crackdown on football is an easy display of intent that fails to clamp down in more significant areas.
But the coalition Government has set a target of £8bn it wants to claw back in additional tax during this term. The move is also part of wider moves to bring football clubs into line with other big businesses.
HMRC is eager to ensure tax has been paid on perks such as exotic holidays. A number of Chelsea players have taken breaks on luxury yachts belonging to owner Roman Abramovich. These are just one of a number of perks HMRC want satisfactory answers to.
The full extent of the taxman’s investigation into top footballers such as Wayne Rooney and Carlos Tevez and their clubs is astonishing. HMRC is looking at every aspect of football business and finance – and leaving no stone unturned as it looks to claw back millions of pounds from both clubs and players.
The sheer scale of the questionnaire has surprised even tax experts.
Sportingintelligence can exclusively reveal the questions from the questionnaire, including:
4.14 Are any payments made into trusts or sub-trusts, whether in the UK or abroad, for which employees or family members are, or are potentially, the beneficiaries?
1.2 Are any expenses paid, or benefits provided, to players’ or other employees’ spouses, partners or other family members, whether in the UK or abroad?
11.6 Has the club paid any expenses relating to an employee’s private holiday costs? If so please provide details.
11.7 Are there any circumstances where the cost of spouse travel will be paid for by the Company? If so please provide details.
22.1 Are complimentary tickets, use of a box, etc. provided for employees? If so please provide full details.
Sportingintelligence also understands the tax affairs of foreign players will come under greater scrutiny. In some cases players have been found not to have paid National Insurance contributions (NIC).
Other questions asked:
5.3 How does the club treat payments to foreign players for payroll purposes?
4.2 What controls are in place to ensure that any amounts which are paid out are treated correctly for tax and NI purposes?
Chas Roy-Chowdhury, head of taxation at the Association of Chartered Certified Accountants (ACCA), says: “There are clearly a lot of issues the HMRC wants answers on. I know there have been cases of overseas players with no trace or evidence of them paying any NIC whatsoever.
“HMRC is determined to give football a good kicking if it is found that players and WAGs are driving around in Ferraris and Porsches or enjoying holidays that are not properly accounted for and don’t abide by third party benefits rules. Nobody minds them living it up – so long as they do so after paying their taxes.”
Last year it was found that Manchester United star Wayne Rooney had saved almost £600,000 in two years by using a tax loophole, which was also exploited by other top footballers. Under the scheme, the players have two contracts with clubs. One pays them a salary, while the other is for ‘image rights’ – earnings from shirts and other merchandising. These royalties are paid into a company set up by the individual player, which is liable for only 28 per cent tax.
HMRC is understood to be involved in ongoing negotiations with several leading clubs on the issue and hasn’t yet rules out litigation if an agreement cannot be reached. A number of other clubs have now agreed settlements.
Next week sees HMRC take on Glasgow giants Rangers in court over previously used employee benefits trusts (EBT) to pay players. In what is seen as a test case, HMRC are aggressively chasing £35m from the club. If they lose the three-day case, Rangers face a potentially crippling bill of £49m (including penalties), while the taxman would effectively be given a green light to chase other clubs who have used the tax avoidance scheme.
Under a typical scheme, players would be employed by an EBT scheme provider based offshore, such as on the Channel Islands.
As an employee, the player would be paid a salary, which would attract tax and NIC in the usual way. However the scheme provider would also make significant payments into a trust, which would then loan the money to the player indefinitely – the loan element not being subject to tax and NIC.
truth4767 says:
23 January, 2012 at 14:52
I’m actually away to iron Declan’s Primary school clothes and tie for tomorrow.
Declan, stay out of that cupboard.
Can’t keep chocolate biscuits in this house, you know.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Ha,clocked ye now,I KNEW I recognised that writing style!
Stay off the blog,Mum,yer embarrassing the Hoops…
Truth
Conversely, if you chose to follow a new team starting in Division 3 you will be assisting all the small teams of Scottish Football in a way unimagined by even Henry McLeish.
Go on. You know it makes sense. Your big opportunity to be come the ‘xaviers’ of Scottish Football by injecting undreamt of riches into the coffers of all the wee chairmen. Go on. You can do it. If you try.
What’s that other word that usually goes with truth? Some say justice, some say commission. Either way if you’re really interested in truth and justice, you should be arguing for Division 3 entry now and not pandering to the corrupt and broke in the SPL. Why not let the SPL just wither without you?
Go on, you know you want to!
HH
In fact, I might go and get domain names registered for Scottish Xaviers just in case they like the idea for a newco.
Ha ha
HH
Strewth! 7-1
Typically bitter malevolenc of the darksider.
“If we go doon wur gonnae take aw youse wae us”
Stop greetin. It’s not as if you don’t deserve everything thats coming to you.
Malevolence with an e at the end
St Stivs
I’ve almost stopped now…Ha Ha Ha Ha
Ha Ha Ha Ha
MWD
Stars
Pure magic mi amigo.
Angelfc67says:
23 January, 2012 at 13:58
Yes!
Declan is quality. He helped me through the flu one week! Great patter. Enjoy it.
Exiled
yes,got good word on it,Had a few bob each way at 12/1 this morning.I liked the way the jockey kicked for home,no messing,Ride em like they’re stolen
Folly Folly says:
23 January, 2012 at 12:17
flux capacitors’r’us
where kin a buy wan ow these flux capacitor things ave been lookin fur wan ow these fur years
If a Rangers-less Scottish football would go bust, I wouldn’t give a damn. In fact, I’d be delighted.
Id rather there was no game, than a crooked game.
What is the Stars says:
23 January, 2012 at 14:41
Posted earlier but in case anyone is interested in a bet here it is again
Been given word for 2 each way Wolves
Speedy Yaki 3.00
Appleblossom Time 5.00
—————————————————
cheers for the tip : put a fiver ea / way @ 6/1 on speedy yak
will defo put something on appleblossom time now.
HH PC67
Rangers are confident they will be successful in a bid to bring Gianluca Vialli, the Juventus striker, to Ibrox, writes David McKinney.
David Murray, the Rangers chairman, said the chances of signing Vialli are 50-50, with the player believed to be considering a move to either Parma or the Scottish champions when his contract expires in the summer.
The audacious move, if successful, would confirm Rangers as one of Europe’s top clubs in terms of resources and finance with the added incentive to Vialli and other big name targets of a virtual guarantee of playing European football every season.
Murray, who has held initial talks with Vialli’s advisors, will travel to Italy with Walter Smith, the Rangers manager, after Juventus have played their European Cup semi-final second leg against Nantes, and he believes the financial aspect of the deal is a secondary consideration.
“It is now not a monetary decision, it is purely a footballing matter on whether he wants to play out his career with us or Parma,” Murray said.
Interview with our new signing Rabiu Ibrahim:
http://www.celticfc.net/newsstory?item=2047
What is the Stars – keep ’em coming mate, cheers
If I was to ask you guys to “dick my golden legacy” there would of course be calls for a ban from the brainless but would it be warranted ?
So I am asking all you guys “dick my golden legacy”
Hail Hail
FOOTBALL: DICK: MY GOLDEN LEGACY; Murray is the man that Rangers need.
Link to this page
DICK ADVOCAAT is planning to leave a golden legacy to his successor – possibly in two years.
The money men are queing up to back Rangers with big bucks but manager Advocaat has refused to think beyond the two years remaining on his contract.
Advocaat has given Rangers respectability on the European stage during two exciting campaigns with investors like Dave King willing to plough over pounds 20m into David Murray’s vision for the club.
Convincing Advocaat to come to Rangers will go down as one of David Murray’s greatest ever moves but it’s Murray who will shape the club’s future.
Murray and Advocaat formed an instant rapport, cemented by half a dozen phone calls a day, but Advocaat admits that their relationship isn’t going to last forever.
The Rangers boss said: “I still have two years left to go and that is long enough to be thinking about. By then I’ll have been here for four years.
“Everyone knows how I think of David Murray, he is a very demanding chairman but I am the same. That is the reason that we work quite well.
“Murray is the man who Rangers need. He is the man finance wise with the ideas, he doesn’t think for one day or one week he’s working on what to do in three or four months.
“He is constantly thinking of how to improve the club. Rangers must be very happy with David Murray he is always thinking and working on ways to make this club better.
“When I came here the players were not good enough for Rangers, that was the problem and we’re now almost at the end of that but there are still some players who are not at the Rangers level- that is what we have to improve on.
“I think that we are moving in the right direction but it takes time, this was the biggest job I have ever had to do but I have people here like David Murray and John Greig who know the club well.
“Most of the players that were here when I arrived were second team players except Jorg Albertz, Sergio Porrini and Lorenzo Amoruso who had been injured almost all of that season.
“Apart from them there was nobody and that is why the job was so difficult. Everyone expected me to win prizes and that makes the job very demanding.”
raig Whyte has issued a statement confirming his purchase of a majority shareholding in Rangers and promises to do everything he can to bring domestic and European success to the club.
The businessman completed his acquisition of Murray International Holding’s shares in the Ibrox club on Friday afternoon after protracted negotiations and said he was happy to have finally taken control of Rangers.
“After six months of negotiations, I am delighted to confirm that agreement has been reached between myself and Sir David Murray and that Wavetower now holds the controlling interest in Rangers,’ he said in a statement.
“As a keen Rangers supporter I now look forward to helping the club secure its future as a leading force in Scottish and European football.”
Whyte said that he would be working to deliver success for the team and acknowledged that the lengthy takeover process had been difficult for those involved in the club.
“I know the club has gone through some difficult spells in recent times but it is my commitment to the manager, his backroom team, the players and, most importantly, the loyal supporters that I will do all I can to ensure further success in the weeks, months and years to come,” he added.
“Rangers is a great club with a great future. It has the best supporters in the world and I will do everything possible to protect and enhance the club’s standing going forward.
“The guiding principle from the outset has been to get the right deal for Rangers. I know the time this has taken has created a lot of frustration, but it was vital we secured a deal that meant we could maximise investment in the team and that is what has been achieved.”
The new owner also paid tribute to Sir David Murray and said he should be shown gratitude for his 23 years at Ibrox.
“I would like to personally thank Sir David Murray for the way in which he has conducted his side of this difficult and complex negotiation as well for the devoted service he has given to Rangers over many years,” Whyte said. “His is a great legacy of which he can be proud.”
He added: ‘Now the really hard work begins and I would appeal to everyone who has the best interests of Rangers at heart – the management, the players and the fans – to give the club the support it so richly deserves.’
Declan didn’t you mean there are none so deaf as those that dont want to see?
i am reading Heroes Are Forever, The Life And Times Of Celtic Legend Jimmy McGrory by Mr John Cairney
as you may know, Jimmy scored 522 goals in 501 appearances for Celtic
before he joined the club, he played for the newly formed St Roch’s Juniors
in May 1922, at the end of only their 2nd season, St Roch’s won thro to the final of the Scottish Junior Cup to be played v Kilwinning Rangers at Firhill
St Roch’s won 2-1 thanks to a winning headed goal from Jimmy
howeva (as Kojo might say)
Kilwinning protested to the SFA that St Rochs had fielded an inelligible player – paperwork had been delayed
but the boss of St Roch’s (Father Lawton (some man !)) had the small matter of a street parade to contend with so he decided to go ahead with it anyway by using another trophy that they had won in its place – the folk in the street cheered and waved and were none the wiser, haha
and a replay was to be held
and in the replay, St Roch’s sure enough did indeed go on to win, and coincidentally by the same 2-1 scoreline, with Jimmy gettin the first and his pal Rollo, who went on to play for rfc, getting the winner
great book this !!
Anybody hear anything else about this Jorge Molina character supposed to be in the frame for us from Real Betis? Or have I been sucked in by more guff?
Swiss
Barrach Obampot – why would i say that. that doesnt make any sense. i am not stupid you know
Can’t we just buy Darlington in League 2 and then work our way up the English leagues? :) Of course, we’ll rename them Celtic and make us of a huge 60000 stadium in Glasgow….
HH!
COLIN DUNCAN takes your calls
THE signing of Dutch skipper Frank de Boer was seen as a step in the wrong direction by the majority of Rangers supporters yesterday.
Tom Lowe, Wishaw, said: ”I’d like to know what is happening with the Rangers youth policy.
”Henning Berg, Frank de Boer and now Rangers are said to be trying to bring in 34-year-old Alex Rae.
”It’s great to know the pounds 12 million spent on Murray Park wasn’t wasted.”
Ally McHendry, Dumb art on, said: ”I’d like to register my disgust at the signing of Frank de Boer.
”The defence is the only part of the team that’s been okay this season so why do we want to waste money on de Boer?”
Eamon Molloy, Coat bridge, said: ”Alex McLeish proved he was a ‘yes’ man when he let David Murray sign Emerson.
”Now it seems he is a ‘yes’ man to Ronald de Boer because there’s no doubt he orchestrated the signing of his twin brother.”
Craig Murray, Edinburgh, said: ”Rangers have lost the plot. McLeish recently claimed he would only sign players under 30 but he didn’t take long to change his tune.
”First he signs de Boer and now he’s been linked with a move for Rae, who will be 35 soon.”
Ian Clark, Glasgow, said: ”McLeishshouldn’t be allowed to deal in the transfer market as his record is hopeless.
P”Muscat, Ostenstad, Capucho, and Vanoli have all done nothing and then he signs an injured Gavin Rae. What a genius.”
Vince McAuley, Carfin, said: ”Frank de Boer’s agent said the defender was only being payed petrol money to sign for Rangers.
”Well, I’d just like to point out that old bangers use a lot of petrol.”
James Brown, Dennistoun, said: ”Rangers’ latest signing is an act of desperation.
”It also sends out all the wrong signals to the young players, who will never get the chance to progress.”
However, there were some fans who believe the acquisition of the former Ajax and Barcelona defender was a shrewd piece of business.
Alex McInnes, Blantyre, said: ”I will be delighted if Frank de Boer plays three good games for Rangers all of them against Celtic.
”It doesn’t matter what else he does. I just want him to shut out Celtic and stop them completing a clean sweep against us.”
Eric Lid dell, Falkirk, said: ”I think de Boer is a brilliant signing.
”There’s no way the young players at the club can fail to learn and get a boost from a player with his presence and experience.”
Peter Nash, Manchester, said: ”I’ve got two words to say to any of the doubting Rangers fans Lubo Moravcik.
”He was 33 when he arrived at Celtic and he was different class. There’s no substitute for quality.”
JOHN DO CHERTY will take your calls today from 11 am-noon on: 0131 624 6000
COPYRIGHT 2004 Scottish Daily Record & Sunday
Over fifty years ago my father wished that he could keep copies of the rubbish that journos printed in their rags(yes, even then) and fed them back to them when they were discredited.
Now thanks to the magic of the Internet, we can do that. He would be a happy man today.
When the door finally closes on what we know as RFC, he would be even happier.
Enjoyed the “freelunch journo” tag.
My money is on Awe Naw and his Declan Parody of the intelligent hun.
I’d like to finish with a wee song for next season:-
” There’s not a team called the Glasgow R……,
No not one and there never will be one
We know all about their troubles,
Ignored the Taxman and now there done,
Now there’s not a team called the Glasgow R……,
No not one and there NEVER will be one”.
Thank you very much, good Night and God Bliss,
Safe home.
Awe_Naw – I am glad he did sign Frank. If he hadn’t we might never have had one of the greatest songs ever sung at the horribles!
Ones called Ronald, ones called Frank……
thomthethim says:
23 January, 2012 at 15:35
and other posters
I wish I had the wit and ability to do the declan stuff.
Not guilty
Hail Hail
Declan I know
:-)
Any truth in the rumour Luca Toni is coming to us on loan?
Need some help from anyone.
I have been playing Poker one night week with a few pals.
I win most weeks and have made.a bob or two.
I am clearly the best players.
Unfortunately the other lads have caught me cheating.
I know I should not have done it but it was so easy. I have spent all my winnings.
If I apologise should the other lads let me back in the game. I am the best player afterall. Without me the game will terrible?
Declan’s a double bluff……he’s actually got us all thinking, that surely no one could really be that stupid, it must be someone taking the p**h, but in fact he is a 100%, thick as sh*t cream bun.
PC67
Life without Rangers? No problem. There would be plenty of competition. Didn’t we have to work
hard to beat a stubborn and determined St Mirren at the weekend? Weren’t Rangers held to a draw at home by Aberdeen? It was nail biting and edge of the seat stuff.
There is of course a risk that, in a league without the hvns, Celtic would curtail spending and drift downwards a bit in quality but that would only serve to increase competition further.
No Rangers? Bring it on I say!
FWIW I think Declan must be one of us.
Way, way too clever to be one of them.
I blame Kafflick skools.
Hey, Dec son ur back???!! I left a drink in Lynch’s for you. Where you been , Lourdes???
What did I tell you the last time abt that loyal gufffff?? We are a family on here. Families dont do loyal!! Families are families!!! HaiL HaiL