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.
689 Comments- Pages:
- «
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- ...
- 19
- »
RWE and HT
If you type your name into google they show up
I tried on Saturday to get old tims first ever post that way
Cairn Ryan is the danger man for Stranraer could do a job for us if handled properly
Didn’t find it though ⚽️⚽️
BlantyreKev 4:32
Great post. As a fellow CQN veteran, you have pretty much summed up my thoughts. Have also wondered about limiting number of posts per poster per day. I generally find the posts from the less frequent posters to be most interesting.
mikeintoronto
wait till kae and Justin have finished there will be nothng left of Canada.
thelibs. have done grate in Ontario eh.
Hope Stranraer get a good turn-out after their 2012 vote against admitting a new club into the SFL.
HT and BT
Thanks.
Thought there used to be a way to do it on the blog…but maybe that IT sage has stopped tuning in :o)
BT
I have just done the google thing and found that I have posted pesh more often than I recalled…
MPS, MPS, MPS ..
Must Post Sober
Careful What You Look For CSC
timmy h ….. love your donuts and hot chocolate, but think we will have to agree to disagree on the politics!
ps … did I ever tell you my pal’s dad knew, and I think played hockey with, your namesake?
Rwe
That’s why I didn’t recommend it to HT when he asked previously ☘☘
kae=kate
jimtim you are welcome on this site as long as you are not a tory.
Would I be correct in saying that Stranraer were the one club that rejected Sevco’s election into SFL Div 2?
Now how the hell did that happen if the same club was simply “demoted”? Sure as hell beats me…
Good Evening.
Adrian Durham produced a hilarious piece in the Daily Mail today which lectured Celtic fans on how much they miss Rangers*
Here are my views
https://theclumpany.wordpress.com/2015/12/01/needy-celtic-fans/
As ever, many thanks for reading!
I have no idea why BMCUWP appears to have taken a sabbatical ,but, if it was because of the diatribe emanating from TD67 I shall kick his ass( and I don’t mean Td
Auldheid
As a CFC shareholder I was intrigued by your reference to a document highlighting the Huns deeds as it were!
How might a shareholder come by such a document. Being a wage slave at present I never get the chance to attend AGMs
Many thanks
HH
Sorry about that someone bumped my arm in rush to bar , meant TD’s ass which he talks out of most times.
Quonno 4:53
John James names the man with no surname as being the recipient of an EBT.
If I recall correctly, he did not appear on the BBC’s list of EBT recipients.
Answers on the head of a pin.
Who do we believe. John James or the Brother’s Broadcasting Corporation?
– ————-
There was always a “shortfall” between the total number and the BBC list. Don’t remember the exact amount – maybe 10 or 12?
There are two obvious ones we could all probably guess. Possibly left out for fear of social unrest :-)
But I have always thought it funny why the others weren’t named. Anything that might cause embarrassment to the beeb…….?
THECLUMPANY on 1ST DECEMBER 2015 6:57 PM
Good Evening.
Adrian Durham produced a hilarious piece in the Daily Mail today which lectured Celtic fans on how much they miss Rangers*
Here are my views
https://theclumpany.wordpress.com/2015/12/01/needy-celtic-fans/
As ever, many thanks for reading!
Yet another arguement for not giving any of them ‘one thin dime’.
– See more at: http://www.celticquicknews.co.uk/so-stressed-juninho-film-productions-get-an-airing/comment-page-6/#comments
GLASSTWOTHIRDSFULL
Referees…………..??
Cosy Corner Bhoy
Get to the back of the line
As in aeroplane
Now jobo baldie has flounced! That’s not right at all when good bloggers like him are dissuaded from the blog. Totally not on, he seems a gentleman full stop.
Winning captains,,can we introduce yellow cards for personal insults,,surely that would help. If this keeps going in a year the blog will be a shadow of its former heights. I honestly feel there should be a thrust to keep some unity and maybe some firm ground rules established or the blog will die. All my humble opinion of course. Hail Hail
If MacIntyre and Wilson want to have a chat with their hero, does it really have to be done at licence fee payers expense???
GTTF
Have always suspected that Hugh Dallas and a few of the referee fraternity to be the missing names on the EBT list.
Blantyretim
Oldtim67 was the bloger before we heard about internet.
“A senior citizen who has found a new outlook on life since taking up Photography and the purchase of a computer,relearning how to type and trying to compose posts such as I’m now doing.”
http://oldtimscelticpics.blogspot.com/
Apparently, Warburton is claiming that Celtic and Sevco suffer from the same problems….
I didn’t realize Celtic were liquidated and couldn’t get out of the championship ….. I must have missed that ….. either that, or the magic hat is too tight, and it is cutting off circulation to his brain.
Zbyszek
I kept that from him on Saturday
Hope you are well my friend
Bamboo
Well that would be dynamite. But who knows…..
Celtic development squad winning 1 0 against St Johnstone with Ciftci scoring, Derk subbed after 58 minutes…
Zbyszek
Good to see you post.
Congratulations to your country in qualifying for France next summer.
Will you make the Euro Finals?
Good evening, gents, and TD if you`re lurking!! Could any of you good chaps let me know if Celtic have cancelled the official package to Turkey where you fly with the team,due to the dangerous situation? My mates dad is supposed to be on it, very much against my mates wishes, but he`d heard that Celtic decided not to take anyone out with the officials. I haven`t heard about it, but i`m sure some on here (HT?) would be better informed. Thanks in advance.
Cosy Corner Bhoy-BMCUW emailed me the other day,he’s taking a wee bit of time out from here,and you can’t blame him…..HH
MiT
The bread head has not really got a magic hat.
Another sticky bun fairy story to add to the ever growing list. :)
DD
MW( Aye Bready) has got a head like a 50p piece.
The Partick Thistle mascot was modelled on him.
He is probably raging:)
HH
DD
How ya doing?
The new sevco team photo at Ibrokes….
http://www.thechestnut.com/hatty/hatty-jigsaw.jpg
Delaneys Dunky
Thank you and I hope the joy of OUR country is on your side too. I don’t know if I can make it. I have been to Germany, Austria and Poland tournaments.
Blantyretim
Thanks, I’m fine now after difficilt night but that’s life.
I doubt this one is first Oldtims but it’s definitely worth reposting. He never changed that wise simple man, with big heart.
“oldtim67 COMMENT-DATE:12/04/2008, 16:43 COMMENT-BODY:
Paul67.
I feel for you at this moment,There’s a hint of triumph on the blog these days,by posters who mostly come on, when Celtic suffer a defeat.
It’s hard to understand where some posters are coming from,I know the results have been grim at times,and I have hurt as much as the next poster,but I have a bit more decorum than others have shown on this site in the last few days.
It’s rather naive to blame you Paul for the ill’s of Celtic.
I come on this site to converse with others of like mind,Celtic supporters who have our club at heart,but to come on here and read things from posters,who are glorifying in the demise of our Manager is sickening,not the way Celtic supporters should be going about their business,Gordon will leave Celtic,and probably at the end of the season,but for posters to come out with such vitriol regarding a Celtic Manager,it’s just not on,leave that to the Follow Follow brigade.
I remember when Noel gave little snippets of what was posted on the Follow Follow site when they were in turmoil,well the same will be happening now, but in reverse.CQN in meltdown,will be the posts on their site.
The League is not over yet,Rangers will win it if they keep on winning,you don’t have to be a scientist to come up with that conclusion,but they have a hectic few weeks to come,and there could be many swings and roundabouts yet.
I’m not very hopeful the way our team are playing,but hope springs eternal,we may just start to play some decent football,and the other lot,may lose some games,No the Leagues not finished yet,Yes, and do I hear (pigs might fly).
Whats all this rubbish about Cliques,re Babbity Bowsters,the reason I go to BBs,is to meet people who support Celtic,put names to faces,and there are a few who go,who would rather see the back of Gordon,tinytim for one would like the manager to move on,he hasn’t kept it a secret, and I haven’t a problem with that,but after meeting tinytim,I know His heart is with Celtic,and I understand where he’s coming from,also a nicer man you’d struggle to meet.
I think this in-fighting has to stop,or the blog will suffer from all the bickering,let’s get back to what the blogs good at,talking football,and Supporting Celtic,The Celtic way. ——– “
MAHE THE MADMAN. I agree JOBO is a real Gentleman my understanding he is having a break from the blog and my understanding is he will return. However, over the years many good bloggers have left CQN for one reason or another and in my opinion you cannot legislate for it as it is the way of a blogg.CQN is made up of many different personalities and for many the only thing we have in common is our support for Celtic.I believe on CQN we should be able to give our point of view even if others do not agree we should not be ridiculed or fear what others may say about us. Today I saw one group hounding one man and for me it was not the way a Celtic blog should operate I imagine most of us on CQN would like to think we are open minded and can articulate our point of view without resorting to bullying and in my honest opinion that is how CQN should function. H.H.
Dumbarton not worthy of having their team on the Sky Sevco News ticker……
TGM
The Jags mascot is far more handsome than the sevco manager.
MiT
Doing fine bud. Hope the birthday half century went well.