I know there’s been widespread criticism of many in the media for not confronting former Rangers EBT beneficiaries, now working alongside ‘proper’ journalists, for not holding ex-players to account for the enormous sums of money diverted from the tax man. I’ve spoken to a few journos who have tried to make headway on this story but been denied comment, access, or even contact details from colleagues.
The defensive line on not discussing this subject was originally “My EBT was legal and is a private finance matter”. This changed last year when these EBTs were found to have broken tax laws at appeal, when the line was changed to “This is a private finance matter which is subject to appeal”.
All fair enough. A consequence of the original legal status and ongoing appeals is that no one has broken ranks on those responsible for imposing this state of affairs on a football club, the tax man, or individual players.
The Daily Record today report HMRC are pursuing players for the payment of tax on EBTs. My understanding is that many (if not all) players received a letter from the “Club” indemnifying them from tax. Watch how quickly you’re told “Not this club, it was the club that died”.
You’re going to need patience for this one, it could have years to run, but I expect ranks will break eventually.
You can read subtext, can’t you? The Times report today that Celtic and the SPFL have written to the Scottish Government telling them to keep their noses out of the running of football clubs. This was after the Government responded to pressure from Celtic to repeal the Offensive Behaviour at Football’ Act by hitting them on a subject they knew would cause conflict with some fan groups.
Push on the Offensive Behaviour Act and watch what happens with the Fan on the Board issue which you enjoy so much but seemed to have lost momentum.
Politics is a dirty business. All this to deflect criticism of an ill-conceived, ineffective, bad law, instead of just repealing it, which will happen as soon as we no longer have a majority government. Anyway, Don’t Blame Me…….
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Those having a go at the Requisitioners better be careful, Canamalar is back in town.
A Catholic Priest as referee.
Can ye imagine, Kris Boyd headbutts Tony Stokes. Referee runs over & says “Ach away over der n give me 2 Our Fathers & 1 Hail Mary.
Well that would go down a treat, won’t it?!
Mr Pastry
Follow the Yellow Brick Road
Follow the Yellow Brick Road
HH
The Scotsman on the tax position.
Some interesting observations in the comments section.
http://www.scotsman.com/sport/football/teams/rangers/ex-rangers-stars-face-financial-ruin-amid-ebt-crackdown-1-4086996
I particularly like the one about the Supreme Court ruling and it generates the tortuous legal mind in my head.
Bear with me here.
Supposing:
1. The Supreme Court rules in favour of HMRC and declares that all the trusts and loans were shams.
2. In so doing, the court ruling opens the door for a question to be asked by BDO, Liquidators of Rangers PLC.
That question is this:
Q. What is the legal status of the money paid by Rangers PLC into each and every off shore trust?
If the answer to that question is that these payments were recorded as, or have been declared to be, loans paid to trusts to facilitate an unlawful tax scheme, then would the Liquidators of Rangers PLC be entitled to seek repayment of these loans to satisfy the bona fides claims of creditors?
Now, imagine BDO send out demand letters by the bucket to Jersey. The trustees would have to say “sorry we are skint” and/or write to whoever those trusts gave loans to and demand repayment failing which they will sue.
Imagine all sorts of ex players and directors having to repay loans to the trusts who in turn repay BDO.
BDO then repay the creditors in so far as they can — let’s say 60p in the pound.
George Osborne then changes the law.
Up walks Hector to various houses and knocks on the door and says:
“Oi – You! Alex McLeish or whoever you are. You owe me money for back taxes on an illegal tax scheme!”
” No I don’t” says Alex McLeish ” I repaid the trust and they paid BDO”
” So they did” says Hector ” But there was only so much money to go around and I only got sixty pence in the pound, so there is a shortfall of 40p in the pound plus interest and penalties — and Gideon says I have to collect it from you Eck!”
“Feck Me!” says Eck
Meanwhile, BDO have closed off their books. They recoverd £25 Million from Collier Bristow, a pile of money from the trusts and paid the creditors what they could.
They have a legal opinion that now says that Sevco Scotland Ltd deliberately made false representations to Duff and Phelps about their right to take title to the assets sold by the former Administrators.
The Administrators deny any part in this calumny, and when they pass a claim from BDO to their insurers for negligence and all that malarkey, the insurers start to calculate the litigation risk and make some kind of settlement with them.
So now BDO have even more money to pay out to creditors, but they also have a situation where the sale of the assets of Rangers PLC is voidable as the assets were transferred to the wrong party as the original sale agreement that title was to be taken by Sevco 5088 Ltd.
BDO then receive a letter from HMP Prison Lowmoss, where one of their residents — a Mr C Whyte — claims that he is the true owner of Sevco 5088 Ltd and he demands that BDO rescind the sale to Sevco Scotland ltd on the basis that they have no proper title to the assets concerned.
” Ah but Whyte is a shyster with no real claim” say BDO ” but there is something to this claim and if we are not seen to be doing something we will receive a claim and end up passing it to our insurers.”
So BDO serve a notice on Sevco Scotland ltd and their successors etc and put them on notice that they, BDO Liquidators of Rangers PLC, are going to seek to rescind the contract of sale between Duff and Phelps and Sevco 5088 Ltd/ Sevco Scotland ltd.
There is apoplexy among the people who have invested in The Rangers International Football Club ltd and its subsidiaries. They write for guidance to Charles Green at his home in HMP Peterhead.
BDO set aside £5.5 Million to repay the purchase price received ( as they must ) and the whole transaction is rescinded.
BDO now has the assets of a SPFL club to sell — because the assets, the holding company and the club are different aren’t they?
They are looking to sell the assets to someone who would want to buy them and run a football club.
Up step prospective buyers, but BDO are looking for someone with impeccable qualifications as a pucrhaser so they can put all this Rangers speculation behind them.
As long as they get anything upwards of £5.5 Million they will have been seen to have benefited the creditors.
Up steps any old Tom dick and Harry with say £x Million who buys the assets.
BDO have now recovered more than all of the money owed by Rangers PLC.
They have a surplus.
BDO write a letter, to Mr Craig Whyte c/o HMP Lowmoss.
” Dear Mr Whyte, we have recently concluded all legal matters concerning the Liquidation of Rangers PLC.
After taking into account our reasonable fees and expenses and having paid all the companies creditors, we are sitting in a surplus of £1967.00. As you are the rightful owner of the share capital of Rangers PLC we write to advise that we have resigned as liquidators, brought the liquidation to a conclusion and accordingly are writing to seek your instructions as to whether or not you would wish the company dissolved or whether you wish to resume control of the company. Please also advise where you wish us to send the aforementioned sum of £1967.00
Yours Faithfully
BDO”
Pastry
Peter Lawwell continually states “I will do whats in the best interests of “The Celtic………Shareholders.
Not the Club; Not the fans.
BMCUWP@4:21 – and you express faux outrage at other peoples’ post – youngsters do read this blog – you should measure you language and innuendo.
THEGREENMAN@4:24 – no decernable imput – just name-calling as usual – you and the above are deflectors of the first order – “sticks and stones” – please act your age.
You like reading rule books, dontcha Neil?
http://www.f9consulting.co.uk/wp-content/uploads/2015/11/long-tax-code.jpg
kill ultra on 31st March 2016 3:51 pm
Kill Ultra
I am sorry but there is very little in that post that is accurate.
Canamalar has his own way of setting you straight on the facts.
I will only say that your version of events does not accurately portray what happened.
You are very far from being close.
Canamalar it looks like OCD obsession on 31st March 2016 3:34 pm
Oh and big nan is full of shit,
He decided to tell me how to conduct our meetings, demanding I take minutes, accusing me of having preferred supporters, when the bottom line is and was, not everyone gave an email as contact.
Those, including him who wrote to me asking for an update, got an update, they were asked to be careful about who they relate the info to as we had been asked to honour confidentiality of our meetings.
Everyone to a man with the exception of one man kept that confidence, Big Nan published my response on his blog, so he got both barrels, and I’d do the same again to anyone who betrays my request for confidence. Vitriol, he doesn’t know the meaning of the word, arsehole.
– See more at: http://www.celticquicknews.co.uk/tax-man-cometh-scottish-gov-front-after-oba-protests/comment-page-3/#comments
…………………………………………………
I think that you are being a bit selective with the truth there Canamalar aren’t you?
Not to say abusive.
Poor piece of revisionism I think.
ET
As a rule, You only pay tax on the benefit received. In that case, the balance of the loan drawn down.
Mr Pastry
Lighten up there.
You will persist in your attempt to stifle grievance.
Although, it will not succeed.
Why so serious?
HH
Big Nan,
Did I ask you to keep the confidence ?
What did you do with my email ?
Sling yer hook bawbag
I see the ‘Truss’ are again doing what the ‘Truss’ always does – opposing Celtic FC and taking the SNP side in the ‘fan ownership’ debate – why? – because it suits their political agenda.
This cabal is a malignancy that uses Celtic FC as a platform to satisfy their selfish and self-serving mantra.
With almost every utterance they reinforce their raison d’etre – i.e. To further there own narrow causes and ambitions, even if it could do damage to Celtic FC.
Let’s hope that the VAST majority of our support can find their voice and tell these ‘jumped-up’ leaches, where to go.
BROGAN ROGAN TREVINO AND HOGAN SUPPORTS OSCAR KNOX, MACKENZIE FURNISS AND ANYONE ELSE WHO FIGHTS NEUROBLASTOMA on 31ST MARCH 2016 4:37 PM
kill ultra on 31st March 2016 3:51 pm
“Kill Ultra
I am sorry but there is very little in that post that is accurate.
Canamalar has his own way of setting you straight on the facts.
I will only say that your version of events does not accurately portray what happened.
You are very far from being close.”
Okay. Two simple questions.
Why wasn’t Canamalar, one of the initiators of RES 12, not a party to the decision-making process to adjourn.
Why wasn’t Auldheid involved in the decision making to adjourn?
Meanwhile in another world, ‘ the flying , black arm band wearing , pig’ is pushing ‘ John Terry for Sevco’
Hunbelievable
The Resolute Mr Pastry on 31st March 2016 4:46 pm
The Celtic Trust are all SNP followers………………………………..lunacy
Canamalar personal abuse is totally out of order
Blew on res12, make it politics eh
So The Celtic Trust are now all cosy with the SNP?!
I must have missed that meeting :-)
Hink the loyalist goalie has been on the swally wae Gazza :)
Lionroars67,
Don’t care, fire with fire, not one of those I abused deserve any less, couldn’t give a monkeys if you want to sit in parliament and pretend people being called corrupt is ok, copulate you.
Question my or my associated integrity and you get what s coming.
It’s to be hoped your meetings with the board are conducted in a more civilised manner.
“full of shit” “arsehole” “bawbag” is not the sort of language that I would use but then again I wouldn’t describe your tirade against me as being a report back and yes vitriolic would describe it accurately I think, but then again I am subjective on the matter, though I do try to be fair.
CQN Daily magical songs of enchantment
THE RESOLUTE MR PASTRY on 31ST MARCH 2016 4:46 PM
I see the ‘Truss’ are again doing what the ‘Truss’ always does – opposing Celtic FC and taking the SNP side in the ‘fan ownership’ debate – why? – because it suits their political agenda.
This cabal is a malignancy that uses Celtic FC as a platform to satisfy their selfish and self-serving mantra.
With almost every utterance they reinforce their raison d’etre – i.e. To further there own narrow causes and ambitions, even if it could do damage to Celtic FC.
Let’s hope that the VAST majority of our support can find their voice and tell these ‘jumped-up’ leaches, where to go.
And our Board would never, never, do anything to further its own selfish interests.
– See more at: http://www.celticquicknews.co.uk/tax-man-cometh-scottish-gov-front-after-oba-protests/comment-page-4/#comments
Canamalar it looks like OCD obsession on 31st March 2016 4:58 pm –
Justify it to yourself all you want
Its macho garbage as far as i am concerned and advances RES12 not a jot
Take it offline and have a reasonable exchange with Big Nan explaining the position and leave it at that
THE BATTERED BUNNET on 31ST MARCH 2016 1:30 PM
Jobo
J. Titor borrowed your Teleporter next week. Don’t you remember?
——
Now that’s funny!
HH jamesgang
Big Nan,
My report back to you was courteous and requested confidence, you unilaterally decided our methodology was wrong and decided you would expose us as being secretive, regardless of the fact I advised you it was a direct request from the Plc.
You unilaterally decided you would make public information I requested be measured. You decided to break the confidence, I could not give Finley’s muck what you think after you did that, get it ?
MR PASTRY
I don’t do faux outrage. And it wasn’t innuendo. The only reason I didn’t spell it out was from respect for PAUL67,and because,as you rightly say,kids read this.
Clear enough?
Lionroars67,
Go fourth and multiply, big nan yer pal brought it on here and called us out as corrupt, fuck you
Pops in for updates, sees “updates”, pops out.
Love it when Simon Mayo on 5 Live would host some uber clever clogs scientist who would explain quantum physics in the 8 minutes before the news on the half hour.
First 3 mins I’d be hanging on in there as best my wee brain could manage.
Next couple of mins I’d start to lose my grip, like a climber on a rock face.
Then whoosh, boom, crumple….id plummet and hit the ground I’d strayed too far above.
Then wake up dazed asking – is it jelly n ice cream time again yet???
BRTH – that’s what you do to this simple soul ya big clever so and so that you are!!!!
DumboNotColumboCSC
HH jamesgang
Good morning from a bright , mild, and warmish central California.
Some good reading on the blog today, long may it continue.
As an aside listening to the latest homebhoys podcast was blown away that the lads were told to stop singing rebel songs in the Dublin pub were Joyce wrote ulyesses,,no rebel songs on uprising anniversary weekend!
No wonder they are called West coast Brits.
I know what I’d have said, and it wouldn’t have been pleasant! Certainly would have been my last pint there, ever.
Scunnered at that.
Anyways Hail Hail
MTM
CANAMALAR
Mailed you,big fella!
Been a long long time since I’ve issued a profanity on here, blood boiling
Apologies in advance to all decent dubs who embrace and are proud of their history.
My last post was not meant to offend anyone. I know some cracking dubs,,my best mate here in the States is from tallaght. I know there are some good dubs on the blog and they did themselves proud over the weekend.
Not talking about you bhoys!
Hail Hail
MAHE THE MADMAN
We certainly had a good wee time of it,bud!
Canamalar you are making assertions that won’t stand up.
I will have to respond, in a measured manner of course.
But at the moment the 20 20 match between India and the West Indies takes priority, even over Res 12
Canamalar
You’re really cute when you’re angry….
Runs4CoverCSC!
HH jamesgang
Canamalar it looks like OCD obsession on 31st March 2016 5:07 pm –
Deary me, away and have a lie down and get a grip of yourself