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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“We will need to be at our very best”
“We will prepare for the Stranraer game like any other”
“It’s a potential banana skin”
Stranraer…….
Wear the Fox Hat……..?
I used to like John James – always wondered what Jeff Colby was doing now
Preferred Fallon to Kirby though……….
We always play Stranraer in the cup in momentus seasons.
Played them in 1988 on the way to the centenary double and in 2001 on the way to the Martin O’Neill “put Rangers in their place” (c) Chris Sutton treble
The omens are good for a treble in 2016 :)
I dont know if my memory is playing tricks on me but its saying the last time we played Stranraer in the cup we played them and it was a Sunday evening kick off and we won 2-0 am I correct ? H.H.
Pleased to say that, with the defeat of the Tories in the provinical election in Newfoundland yesterday, in Canada, the Tories have now been ousted in every provincial* and federal election.
* In the Yukon, the Yukon party defeated the Liberals and the New Democrats,and are an off shoot of the Tories…. but they had to disassociate themselves from the Tories …. so I”m still counting them as a defeat for the Tories.
Well done, Canada!
JFH
And Freddy ljungberg played
GARY67. Was that not Berwick Rangers away ? H.H.
HT
Good thinking. Now all we need is a resident pedant to evaluate the posts.
An easier alternative might just be a like/dislike function, which ought to get the message across to all but the most self-unaware.
THE GLORIOUS BALANCE SHEET on 1ST DECEMBER 2015 5:25 PM
The game in 1988 was it a home game. Think we won 1-0 with Stranraer hitting the bar. ?
Wasn’t that Betwick Rangers?
LP
Are you going to Turkey?
With court cases looming … what’s it going to take for Ashley to drop it all and let the SFA and Sevco off the hook? Alien space bats. Or King deciding he’s simply had enough ….
http://www.onfieldsofgreen.com/sevco-dark-places-alien-space-bats/
HAMILTONTIM on 1ST DECEMBER 2015 5:36 PM
No mate birthday day before aswell. Truth is my mates bottle went on going over.
Can’t fathom out what’s become of this site . It was started as an alternative to pro Rangers. Anti celtic journalism . It quickly made its mark in combatting the likes of Wilson , English , Forsyth , etc , etc , in getting the real account of what was really happening n Scottish football . we as a celtic support are presently it seems the only club fans disgusted by what has gone on in our game . But instead of putting our collective strength to good use , fighting the cheats , at both ibrox and football HQ , we are getting waylaid with internal in fighting within the blog . I have no preference for any poster . I’m on here to air my thoughts on our great club , I don’t care whether posters agree with me or not . I am always civil , I make my point and go . I’m happy with that . I am only interested in the welfare of our great club , we still have a huge fight on our hands , that rotten mob are not finished yet , they have more friends to get involved in their defence . So please stop the hostilities and aim our ire at the people who want to do us celts harm .
HH
Stranraer was 88.
Bruce Clelland (I think) hit bar / missed penalty?
JFH
Yes it was
I have never been to Stranraer, and the way it’s looking, I doubt I ever will have the pleasure or misfortune.
Yip CQN has changed a wee bit, remember the good ol days when you would often get posters posting word for word complete song lyrics of some naff tune they couldn’t get out of their head, or all the hunners of cracking Zheng Zee jokes we used to enjoy, that was kept going for years, and then there used to be pages and pages of all out mud slinging – 3 cheers for TD67 for at least keeping that bit going :-)
Lest We Forget – The Antipodean Saga – The Great Rumble(s) in Julumba.
CQN – As Good Today As Its Always Been.
;)
Jfh,
Half right. The game was a Sunday but we ran out 4-1 winners.
HH
LP
To be fair to your mate I can understand why. Enjoy your birthday when it comes.
TET
Good for boat over to Ireland mate
BT
Aye it is, only ever used Liverpool or Hollyhead.
HH
GEORDIE MUNRO. Thanks fella the auld memory is not all it used to be.H.H.
“Truth is my mates bottle went on going over.”
Lp and that stops you going?
Stop blaming yer pal ;)
HH
Interesting line up for Development team tonight …
Celtic Dev. Side to play St Johnstone:
Fasan; Breslin, Kelleher, McCart, Blackett; McManus, Thomson; Murray, Hendry, Boerrigter; Ciftci
Wonder if Derk will be introduced to the rest of the squad ?
Jfh,
Not a problem.
I’m fair looking forward to it. Braw to have a cup game after what will probably be a rubbidge week back at work.
HH
Is there a quick method of finding my previous posts on the blog?
Can anyone help me with this?
Steam Driven CSC
BOURNESOUPRECIPE on 1ST DECEMBER 2015 5:13 PM
Inauspicious beginnings
6 games
0 wins
0 draws
6 defeats
Jackie McNamara, York City
—-
To give a bit of a stick up for Jackie he struggled to get a first team because of injuries and had to bring in a load of young loanees to make a squad. The York youth team is nothing special so he may have his work cut out bringing them through to sell on to Celtic
TBB
Unfortunately I think we both know that wouldn’t work.
RWE
I asked the same thing recently but didn’t get any replies.
Derk and Santa only work in December.
Does either of them have a Claus in his contract
Radio Shortbread squandering more of our money,covering a first division game live………..
Not been on the blog much for the last couple of months, mainly for family/personal reasons.
That’s unlikely to change over the next weeks and months for other reasons.
HH!!