Pay As You earn, or PAYE, is the mechanism through which most people pay tax on their income in the UK. It is deducted from source by employers, who forward collected money to HM Revenue & Customs (HMRC).
Not everyone is paid this way. In the decade prior to their liquidation, Rangers paid 53 players over £33m through Employee Benefit Trusts (EBTs). They paid owner, Sir David Murray, and manager, Alex McLeish through trusts, and also paid then-Blackburn Rovers manager, Graeme Souness, and then-Everton manager, Walter Smith, through EBTs.
Former players still involved in the game, or in the media, received pay through EBTs, including Billy Dodds, Steven Thompson, Neil McCann, Kris Boyd, Alex Rae and Barry Ferguson, the latter pocketing a clear £2.5m.
HMRC have instructed recipients to contact them in order to make plans to pay tax on this income. The money received is regarded by HMRC as a net figure, tax and National Insurance contributions will be added onto this, almost certainly always at the top rate. Then penalties and interest will be added. Players like Peter Lovenkrands will have to find money to top up the £902k he received.
Players received a letter from Rangers agreeing to underwrite any tax liability that resulted in them agreeing to take a portion of their remuneration in this way. Unfortunately, that agreement perished when Rangers went into liquidation.
No one likes paying taxes, but it funds healthcare, social services, housing, roads, police and even the monarchy and armed forces. What happened was a disgrace.
The club paid the ultimate price, with supporters going through incessant humiliations. The directors of Rangers at the time, including David Murray, most recent past SFA president and another EBT recipient, Campbell Ogilvie, and Dave King, men who were paid to look after the interests of the club, its staff, supporters and creditors, were never asked to account for bringing the game into disrepute by the SFA.
The chief puppeteer should be sine died from our game.
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TIMALOY29 on 28TH AUGUST 2018 5:21 PM
bournesouprecipe on 28th August 2018 4:32 pm
Bear in mind that Hibs allowed Villa to speak to McGinn before a fee was agreed.
For Hibs , read ‘Rod Petrie’ Of course they did. Our mate “anyone but Celtic” Rod offered Villa no end of encouragement.
” Rangers goalkeeper Allan McGregor is unlikely to face any Scottish FA disciplinary action after landing on Peter Hartley during Sunday’s 3-3 draw, an incident that sparked pushing and shoving from both sets of players as the Motherwell captain lay injured. (Scottish Sun) ”
Now there`s a surprise.
@ BOURNESOUPRECIPE on 28TH AUGUST 2018 2:55 PM
If it helps your sensibilities, I can preface my posts with “Long time lurker, first time poster earlier this year..” Please let me know if that works for you?
Comparing our signings to Sevco’s is offensive and a waste of time? Sorry, not sure I understand that logic.
perish the thought if we dont sign anyone AND get beat on sunday…the Celtic world will go apoplectic….over to you Peter…i wouldnt like to be in his shoes on sunday afternoon if we get beat…
THE HANDS
No bother mate, its my day off and I’m looking forward to your next post thats not about
the transfer window, ( if I can find it )
Nice Chattin CSC
TIMALOY29
I don’t know about that but we’re led to believe £3.7M was agreed.
All ‘Celtic sources’ and I include Paul67 were able to state categorically that John McGinn
was signing for Aston Villa, long before he signed.
Even if Celtic matched the fee ( which isn’t confirmed ) would any footballer sign for Celtic on
wages that were half of Aston Villa’s offered amount?
If they did they’d be the first sincere least since Jimmy McGrory.
Apologies,………………more dog walking duties and spacing
HOT SMOKED on 28TH AUGUST 2018 5:34 PM
” Rangers goalkeeper Allan McGregor is unlikely to face any Scottish FA disciplinary action after landing on Peter Hartley during Sunday’s 3-3 draw,
By dismissing the case , it saves them having to reconvene in order to rescind any punishment after Sevco’s appeal comes in.
Kinda like cutting out the middleman.
STIRLINGBHOY
.over to you Peter…i wouldnt like to be in his shoes on sunday afternoon if we get beat
Trust me………you couldn’t afford Peter’s hand made Italian shoes!-))
Alan McGregor hit by sniper
Strange article other than reminding us of the cheating by Rangers and the wriggling of rules about club or company.
HOT SMOKED on 28TH AUGUST 2018 5:34 PM
” Rangers goalkeeper Allan McGregor is unlikely to face any Scottish FA disciplinary action after landing on Peter Hartley during Sunday’s 3-3 draw, an incident that sparked pushing and shoving from both sets of players as the Motherwell captain lay injured. (Scottish Sun) ”
Now there`s a surprise.
——————————
I’ve just seen the footage on that. There is absolutely no argument that it was a premeditated (albeit by a second or two) assault. Anyone who disagrees is a liar. The guy wasn’t even near him and he jumped/dived to ensure he ‘accidentally’ hit the Motherwell player. The Motherwell player should have gubbed him.
BOURNESOUPRECIPE on 28TH AUGUST 2018 5:13 PM
The Hands,………………….
No evidence just shifting the goalposts?
At least your moniker deserves a reply unlike some of the other daily negativists maybe I should temper my post with ‘ since your moniker appeared at the start of the transfer window ’.
Your posts make a refreshing reading on here with the vast wealth of your Sevco journey.
Comparing new club with Celtic is borderline offensive, and also a pure waste of time.
Still, better than a normal boring CQN week, when taxi drivers give Peter Lawwell a mere seven out of ten.
HH
*****
I agree …. bloody taxi drivers ruining this good site.
7 out of 10? Bloody hell! 7 out of bloody 10? For Peter Lawwell….
he’s not worth 3 out of 10…. let alone bloody 7 out of 10….
I agree … if taxi drivers are saying he is worth 7 out of 10, I say ban the lot of them from posting ….
:)
(Sorry Voguepunter… I dont really hate taxi drivers…. in fact, In accordance with state law, no taxi drivers were actually hurt in the making of this post.)
Dear Neil, or ( 52 of our other players )
I am writing to you about your illegal EBT and side letter.
Don’t you go worrying about any tax demands from HMRC, that you receive
as we will pay it for you.
Yours Billy Liar RFC
MIT
Yes, thought that was a bit high before the window slams shut
?
back on the whole ‘sine die ‘ thing…
I actually had a chuckle when I read today’s headline from P67
‘sin …. die…. David Murray ‘….
a bit old testament for my taste, but, I guess, if you are going to do the crime …
URGENT URGENT
Anybody confirm that my season ticket will still work after going through a cycle in the washing machine?
30 degree wash, Ecover liquid detergent, Ecover fabric softener, normal spin cycle 1200rpm.
OfficiallypanickingCSC
Alex EBT Rae says ‘Rainjurz can end Celtic’s dominance’
well he would know – wouldn’t he
radioreservedoccupations CSC
GordyBhoy64: Condolences to you and your wife on her recent losses.
Does the transfer window really slam shut or does big Peter close it very very softly in the hope the Celtic support dont hear it and thus think it is still open ? I am not a gambling man as I dont have any spare cash to risk but if I were I wouldnt bet on Celtic having any more incoming transfers before the January window. We will be told how hard they tried and how it nearly happened but we dont realise how difficult it is to get new players in. For me we have opened the door and the horse has bolted and as a club we have allowed Rangers to get so close to us that many of us are concerned about the big game on Sunday for me that is a form of treason by the custodians of Celtic Football Club and meanwhile across the city have the signed anyone today ? H.H.
Ok. Can someone help and put up Judith@weather Twitter link.
I think the bhoys who like her, will enjoy, she’s miming along to, you sexy thing.
Hail Hail
Gordybhoy 64.
Sorry to read about your sad news.
A very difficult time for your wife and all your loved ones.
Many condolences.
Hail Hail
MIKE IN TORONTO . more power to your elbow, keep on keeping on mike.
bournesouprecipe
I can’t go with the “established” thinking that Peter Lawwell failed in his dealings with Hibs for John McGinn.
I think that Brendan telling him he wouldn’t be an automatic starter and the larger wages offered by Villa were the key issues. I think Celtic had been kidded by “McGinns Family” that he would only signed by Celtic and didn’t see the urgency
Petrie also was a factor as he hates Lawwell as he sees PL blocking him the SFA Presidents blazer and would have sold McGinn to anyone but Celtic.
JOE FILIPPIS HAIRCUT
I’m glad you’re not a betting man
Bigbhoy
We’ll never know the full facts.
But it’s worth posting we don’t pay 23K to our midfield players.
Money Talks CSC
Ominous.
https://www.instagram.com/p/BnB-8wzHbC7/?utm_source=ig_share_sheet&igshid=yw4e5wfpfqq0
JIMMYNOTPAUL on 28TH AUGUST 2018 6:22 PM
Ok. Can someone help and put up Judith@weather Twitter link.
I think the bhoys who like her, will enjoy, she’s miming along to, you sexy thing.
Hail Hail
Ding Dong….
david17 on 28th August 2018 6:56 pm
Ominous.
https://www.instagram.com/p/BnB-8wzHbC7/?utm_source=ig_share_sheet&igshid=yw4e5wfpfqq0
==============================
“Hé, vous français!
Les Rangers arrivent!”
Oh how I wish I knew how DB felt. Does he still love Celtic? Did he ever? We did foreverever his faults. He wasn’t the worst. And seemed like a Tim. It would break my heart if this ended as it might could.
CHAIRBHOY on28TH AUGUST 2018 4:20 PM
The JP that charged CW with bringing the game into disrepute had the mirror effect of clearing SDM and his cronies of the same charges.
As you say the Board under SDM were guilty of non disclosure of a heap of evidence of non compliance with “good faith” articles and not against telling a big porkie when the chips were down at end of March 2011
They were and still are totally untrustworthy and clubs, including Celtic, who sell tickets for any competition involving them are as guilty as the cheats. Not even a ” buyer beware” warning on the ticket.
However as that has not affected ticket sales or supporters have not asked what guarantee they can be given that any game involving them is on the level, then does it really matter that the crooks got away with it and are still in the neighbourhood?
79Caps
Think this would be the Nomination Committee for Awards
Was Boyata promised a move, and the Club reneged on it?
FIELDOFDRAMS on 28TH AUGUST 2018 6:10 PM
I did that with a couple of bank cards.
Think you’ll be OK on a 30-degree wash cycle, it should work fine. Mine did.
But you should really go to the experts at Ibrox about laundry issues.
Very funny!
No transfer activity then?
Tic toc
For goodness sake, some of you seem to be wishing for us to lose on Sunday, give it a rest and be positive, FFS.
OK, they have improved, but to what level I ask. They are no where near as good as us, we WILL stuff them Sunday, as sure as there’s shit in a nanny goat
KINGLuBO
Who boarded up our transfer windae!?
To hell. with Hampden. Celtic Park is the best stadium in Scotland. Everyone knows it