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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Candles lit,in St Winin’s s,for GORDYBHOY64’ s wife’s parents souls
Done one for you too LENNYBHOY e
iPad fkd
Surely Marseiile and Lyon can see Morelos is the man to get, scoring for fun and a snip at 10 million. Everyone knows Dembele will spend most of the season injured or coming back from injury.
Let’s bring our A game tomorrow night, sink Suduva, then hopefully some reinforcements in on friday, before smashing this media built illusion on sunday.
Anything less won’t do….
HH
And another thing, We won’t lose on Sunday, ‘cos it’s my birthday on Monday, sorted.
KINGLuBO
@ MULLET AND CO 2 on 29TH AUGUST 2018 8:55 AM
Selling Dembele for £20m and buying an SPL striker. That may top the Willo Flood debacle.
” DAVID17 on 29TH AUGUST 2018 8:44 AM
‘Celtic braced for Dembele bids’
Ahh the old we signed nobody but managed to keep Dembele routine.”
So you don`t think i is possible that anyone would bid for Dembele and if they did, you would then think it impossible that Celtic would rejecte said bid?
Followed by:
” DAVID17 on 29TH AUGUST 2018 8:48 AM
Selling Moussa to top up the balance sheet would be the final straw for Brendan and many supporters. If Moussa is gone by Saturday morning Brendan will be away by the end of the season at the latest. You don’t need to be rocket scientist to work out which is of bigger value to the Club unless you are trying to undermine the Manager.”
So imagining what you said seconds before was unlikely ` selling Moussa` gives you the opportunity to be even more negative about Celtic?
Even though Scotland gives Celtic more than our fair share,criticism on here is fine but balance and at least a smidgen of evidence give weight to any criticism.
JJ
Sadly, I have had enough of logging in each morning expecting some good news on the signing front. I now offer odds on the following:
1. No new right back signed
2. No replacement for Stu signed
3. A loan deal for a centre half
What about bringing Chas back as a cheap option – could do worse?
VFR
Early 15th Century? That was the last time some on here showed any fortitude re Celtic !
Hope all is well in your cheerful life.
JJ
Still doom and gloom on here I see. here is no evidence (apart from rumours coming out of France) that Dembele is being sold. If there was any accuracy in these reports I reckon we would see some sign of activity and bids being made. So far it has only been paper talk. Dembele has always stated he is happy in Glasgow and wants to see out his contract. If there was any intention of Moussa leaving I think we would have seen signs from him after the game on Sunday – the old jersey into the crowd routine.
Last week Ntcham was on his way to Portugal. Just before that it was Tierney who was way to Everton.
So despite the media trying to sell off Tierney, Ntcham and Dembele for upwards of £60M in total, they all remain Celtic players and I expect them to be in the squad on Thursday and Sunday.
French Eddie will be back and we still have Boyata, so with the departure of Armstrong and Roberts and the signing of Edouard and Arzani we are not much (if at all) weaker than last season and we still have time to add to the squad. I expect something to happen. The Brazilian boy at Man City doesn’t have a work permit for England so it’s a good bet he will be loaned out somewhere in the next couple of days; I don’t see any barrier to him coming to Glasgow. I also expect something on the defence to progress.
Two wins in the next 2 games and a couple of players in should see CQN back to equilibrium I hope!
KTF
HOT SMOKED on 29TH AUGUST 2018 9:53 AM
JJ, I see the irony wasn’t lost on you with WOTD! It’s pretty dire isn’t it?
As for me, I’m just finishing off work on the European Championships and getting back into a normal routine. Moving from 15-20 hour days 7 days a week back to a good old 7 hour day 5 days a week does take a bit of adjustment. Just poring over a couple of job offers before making a final decision, but I’ll take a week off before starting something new.
It’s time to catch up so let me know when you’ll next be available for a wee bit of scran (with or without your erstwhile chauffeur).
KTF
VFR
I am not so sure it is as dire as it sometimes seems. I am not going to do any research but it might be just a handful of posters who are negative but their output and consistency makes it seem more.
I do intend going to Coia`s some time . I will definitely let you know beforehand.
Cheerio for now.
JJ
Require ad blocker,they are taking over cqn!
The lack of a key transfer(s) has quite rightly been a disappointment for Celtic supporters.
Preparedness (for CL qualifiers) has been a stated policy of the club.
Even at this late juncture, any incomers will remind and underline a factor that has pre-dated many of our recent managers and custodians.
Celtic never build when ahead. This one isn’t the SMSM creation.
This last 8 months , is easily the equivalent of the Seville year.
I can still remember travelling back from a narrow Dortmund defeat, in which Celtic played with only Andy Walker fit. A lorry driver tailgating the Downcraig bus held up a newspaper “McAvennie signed”.
Happy, sad and Celtic.
Money in the bank – check
Manager -wanting to improve the team – check
Out of Europe – check
Still to see the lorry driver with the newspaper.
FFS,the doom and gloom on here is palpable.All on the usual media outlets selling Moussa.Is there any truth in the stories.I,like everyone else on here have no idea,but I would have thought with the deadline ,Friday.Moussa would be heading out for a medical,likewise players would be heading into Glasgow for theirs.If not today,then surely tomorrow.So not too long to wait.These transfer windows really are depressing.
Very sad news aboutbAngela Haggertys job.Bigoted,moronic ,knuckledraggers wallowing in it.Claiming another victory for Ra Peepul.
Just makes me yearn even more for a good gubbing being administered to them on Sunday.Verminous scum.
Turkeybhoy
The vile & depraved abuse Angela Haggerty received on twitter after announcing she had lost her job on the Herald was horrific. How can grown act in such a manner is beyond belief , but it comes quite naturally to the basic instinct of Hunnery. I had to stop reading it as it was absolutely sickening.
Every so often you read something, in thenews that makes you laugh, sorta……..
“Smoking in enclosed public places was banned in Scotland in 2006, but it did not apply to prisons.
Until now inmates have been permitted to smoke in their cells and some outside spaces”.
MURDOCHAULDANDHAY
The peepul posting their filth at AH may have overlooked her response the last time they tried that.
Jail sentence for hate crime,as I recall.
Hope your on the mend,big fella. Might catch up on Nov,if you find the time.
The share price continues to soar.
From CQN in 2013…
Since Fergus McCann took over in 1994 Celtic have only paid dividends on preference shares, which the FSA require the club to regard as debt, not equity. No dividends have ever been paid on the ordinary shares and there appears to be no appetite among shareholders for this to change.
Why are there buyers queuing up under these circumstances?
new article posted.
Regarding the lack of new players for the AEK game….
When have we ever relied on new players to qualify for the CL? Expecting the new guys to come in and carry us over the line before they have settled into the squad is unlikely.
Generally, when we win qualifiers its off the back of the guys who have been here for years: Tierney, Brown, Forrest, Griffiths, McGregor and so on.
The only example of a player making a great contribution to qualifiers was NCham against Astana last season (he spent the first two rounds on the bench)
Two things held us back against AEK;
1. The Boyata issue. This should have been sorted either way. Rodgers should have known if Boyata was determined to leave. We should have had a replacement in or kept Erik Sviatchenko for the AEK game.
That said, we do have 5 CB’s at the club and that should have been enough. Unfortunately, the last two we signed don’t appear to be successful signings.
2. Fitness of the strikers. Griffiths looks like he’s lacking sharpness and is recovering from a soft tissue injury. Eddy missed the away leg. Dembele played only 30 minutes and was recovering from injury.
It’s more complicated than the same old “not signing enough players” excuse we rinse and repeat every time we come into trouble.
I’m not totally against signings either. I’d like to see an Armstrong replacement and the Boyata situation sorted one way or another.
VFR ach cheer up lol,hope yir well mate
https://www.youtube.com/watch?v=palevTnLiec&list=RDIIW9sL-Yf6Q&index=4
emdi signed yit? och thats it,am no supportin Celtic ever ever again ever. :-)
——————————–
Gordybhoy
prayer said for your good lady and family at this time.
HH