Interesting angle in today’s Telegraph: “Celtic are the only club in Scotland, apart from Rangers, who are known to have used an EBT contract”. Why are we part of this conversation? Despite the millions of words written on the subject of EBTs over the last six years, there appears to be a curious misunderstanding about them.
Juninho arrived at Celtic with an EBT from earlier in his career. Celtic funded this Trust around the time the player left the club, informed HMRC about the transaction, and paid the tax due. No side letters (contracts) were issued with regard to this Trust. No information was hidden from HMRC or football authorities.
The conversation went a bit like this:
Celtic: Hi HMRC, Celtic here. We’ve paid Mr Juninho’s EBT £Xk. What is our tax position?
HMRC: £Yk tax is due on that payment.
Celtic: Thanks. Will pay today.
EBTs are in themselves not illegal, nor even immoral. They were introduced to allow employers a framework to give loans to employees. Many employers, formally or informally, give loans to employees to cover everything from crises to Christmas expenses. Or migration expenses, which is occasionally the case in football. That some use EBTs to attempt to put income beyond the reach of taxation is a reflection on those clubs, not others who openly declare EBT payments to HMRC and pay any corresponding tax.
The newspaper goes on to offer a defence against HMRC, almost as though it was dictated from David Murray himself: “it is believed that one argument against the supposition that Rangers secured players by means of EVTs (sic.) is that a range of variable inducements were in operation at that time and not only at Ibrox.
“Other avoidance schemes involved investment in such vehicles as film production companies and forestry development.”
Yes, a range of other inducements were available – legal ones. Other people legally used other schemes. It’s clarity of thought like this being a defence of Rangers that which put them into such a mess to begin with.
Delighted to read Rangers Tax Case back with such insight last night. Catch up with him here if you missed it.
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Said it once said it a dozen times . IMHO the absent landlord is the main problem at celtic .
IMO, Res 12 is the only thing presently happening that has any chance of bring the sfa down, there is no coordinated response from any supporter group, nobody is speaking to each other, a few banners here and there will do feck all.
Res 12 will get them, it will take time, but it will get them, then the can will be open and there is no telling what will out.
And I am not, nor ever have been a member of the CT, nor do I have anything to do with Res 12 other than supporting it.
KEVJUNGLE. I believe it was a good attempt to get answers but the whole thing is now become so complicated that it may never be resolved.Sometimes I wonder if the SFA and SPL and the Rangers are one and the same thing ? I just hope the whole thing goes to trial but even then this is Scotland would the truth come out ? H.H.
Not been in here for months as the personal insults by people like TD67 are not what I want to read.
This was the greatest blog online prior to the contribution of TD67. I only post this as one of what I think is the silent minority.
KEVJUNGLE on 2nd December 2015 11:42 am
such a simple misrepresentation of what happens and happened doesn’t help your argument. its far more difficult to refute an argument that is made solely on emotional and objective lines – the heart and soul of celtic, what would brother walfrid say – but when you start making statements like that it considerably weakens everything else you say
*in the interests of blog harmony this point was made in as polite fashion as i am able
corkcelt on 2nd December 2015 11:46 am
I’m wi you mate, the loonies have taken over, I’m oot tae.
Get this sorted out bhoys.
Lets agree to disagree.
No point in it.
One thing is clear..the bigots and cheats will shorty return.
Id suggest we address the possible consequences.
HH
JIMTIM
That’s where you went wrong , see if you had said it a thousand times :-)
HH
Corky,
Sorry but you’ll notice it’s not a diatribe, it’s an old tactic, which although tedious has been very tedious and tiresome as are my antagonists all I can do is counter and challenge misrepresentation.
Football now that would be novel, team for Hamilton ?
TD67. I would like Warburton to go as I think the guy knows what he is doing and given time and some cash he will challenge us.However,if he goes in my opinion they will struggle to get some one as good.H.H.
jimtim
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Exactly – the rot starts at the top of the club.
The Celtic Way and, all the ribbons & bows wont change the fact that, Celtic, or what operates under the name of Celtic at the minute…is not to be trusted and, is in need of an exorcism in the shape of a fan-take-over of the club….imho.
HH
Joe Filippis Haircut
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Any court stuff in Scotland re: the huns will be rigged.
Lord Docherty…planted, to bend over backwards to try to look unbiased…throws out CG’s case.
Point is…who was surprised by this ?
GOOGYBHOY ♥ CELTIC on 2ND DECEMBER 2015 11:56 AM
Not been in here for months as the personal insults by people like TD67 are not what I want to read.
This was the greatest blog online prior to the contribution of TD67. I only post this as one of what I think is the silent minority.
– See more at: http://www.celticquicknews.co.uk/so-stressed-juninho-film-productions-get-an-airing/comment-page-17/#comment-2730344
Ach that’s awe done noo, AMA nice guy, sorry a upset yi. I’v moved on.
KEVJUNGLE. In my opinion Scottish football is on a knife edge at present if the Ibrokes mess is not sorted out and a level playing field for all implemented I can see thousands of fans leaving the game.Why would anyone want to part with hard earned cash to watch a game they know is rigged ? H.H.
celtic40me
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If Brother Walfrids statue could speak, what do you think it would say to the swivel-eyed-serpents-directors when they passed him on their way out of the ground after ‘trashing’ Walfrid’s principlas at the recent AGM ?
HH
principles
TD67
Took your yellow card well…Fair play to you Tony.
I’m just as responsible.
Lets keep disagreeing…with humour.
Hail Hail
For anyone interested in football
Gary Neville appointed new Valencia manager
GARY67. That is a big job for him I wish him well. H.H.
Joe Filippis Haircut
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Hail Hail Joe.
I dont think that Celtic have ever operated on a level playing field in this country.
Celtic could have been playing in the EPL just now if, the board had kicked the Govt Summit after the ‘Shame Game’ into touch. Instead, we had 3 players booked in this game and, instead of calling a national press conference to let the world know why they wouldn’t be attending the summit and, at the same time…letting the world know just exactly what this little country of ours s really like.
The Board flukin blew it!
HH
If Brother Walfrids statue could speak, what do you think it would say to the swivel-eyed-serpents-directors when they passed him on their way out of the ground after ‘trashing’ Walfrid’s principlas at the recent AGM ? HH – See more at: http://www.celticquicknews.co.uk/so-stressed-juninho-film-productions-get-an-airing/comment-page-17/#comment-2730357
If Jinky could get doon aff that statue, we’d still be in Europe..
JFH
Its the Salford City connection, Peter Lim has majority shareholding in both. Phil Neville is already assistant manager at Valencia
Happy UAE national day
Anyway…justice on CQN sucks!!!
TonyDonnelly67 should have been put into the CQN-stocks so that we could all throw rotten eggs & fruit at him.
Hail Hail Tony
wee question(s)
-Mash gives a £5m loan
-Mash asks for it back.
-shareholder via resolution reject paying it back at an AGM
-Mash then calls an EGM to get his dosh
-EGM resolution is rejected
so on 2 occasions he asked the shareholders and was rejected
Then
last friday at this years(gazeboless) AGM
king announces £5m to be paid back.
1.would payback not have to go before shareholders via a resolution?
2.Is the fact rifc are delisted mean rules and etiquette of AGM/EGM are ignored?
3.Are there any interest payments/penalty clauses associated with payment/non payment of £5m
jussswunnerinCsc :-)
HH
KEVJUNGLE.The thing is before we believed we were being cheated now we know we are and for me thats a big difference.Unless it is sorted I wont pay another thin dime into Scottish football. H.H.
tonydonnelly67 on 2nd December 2015 12:18 pm
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Hahahahaha LOL mhan :)))
HH
I think we should try to get the missing CQN posters to return.
Too many gone recently.
HH
KEVJUNGLE on 2ND DECEMBER 2015 12:19 PM
Anyway…justice on CQN sucks!!!
TonyDonnelly67 should have been put into the CQN-stocks so that we could all throw rotten eggs & fruit at him.
Hail Hail Tony
– See more at: http://www.celticquicknews.co.uk/so-stressed-juninho-film-productions-get-an-airing/comment-page-17/#comment-2730365
Lol, easy tiger.
GARY67. I never knew that but Valencia do tend to change their manager fairly requently.H.H.
new article posted.
Rules? They don’t care about rules ffs, they’r the institution, always will be, no surrender.
JJHS…,
Knew it
JFH
Yeah, that is the big picture.
If thems are allowed to run a rigged league….Then why bother.
Pointless.
HH
Joe Filippis Haircut on 2nd December 2015 12:20 pm
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What has to be established is…how wide is the cheating ?
For all we know…we could be roasting the huns on the spit, year in, year out…then it comes out that, Celtic knew about it and…looked away ?
What then ?
I’ll always go back to what Hugh Adams(RIP) said that, he couldn’t understand all the criticism that the Celtic board got for not spending money, especially with the – financial heavyweights – that Celtic have on their board ?
Financial heavyweights….dont….get kidded by folk like, David Murray.
Pfft! sick of all this pettyness, entrenched intransigent views, scoring childish points, and repeating the same arguments over and over………… I’m going to watch the commons debate on bombing Syria…………. Oh, wait a minute!
THE GREEN MAN on 2ND DECEMBER 2015 12:21 PM
I think we should try to get the missing CQN posters to return.
Too many gone recently.
– See more at: http://www.celticquicknews.co.uk/so-stressed-juninho-film-productions-get-an-airing/comment-page-17/#comment-2730376
I disagree, they left me in my time of need, they walked away.
KEVJUNGLE on 2nd December 2015 12:09 pm celtic40me
“If Brother Walfrids statue could speak, what do you think it would say to the swivel-eyed-serpents-directors when they passed him on their way out of the ground after ‘trashing’ Walfrid’s principlas at the recent AGM ?”
It’s only since we got this board you hate so much that we have at least started to pay (at least lip service) to the principles of Bro Walfred.
In the ‘golden age’ you constantly refer to, the board members were stuffing OUR cash into suitcases to smuggle out the place, the only ‘charities’ the 3 mafias who ran the club recognised, was the one that begins at home.