Twas the night before Christmas, when all thro’ the house
Not a creature was stirring, not even a mouse;…..
The children were nestled all snug in their beds,
While visions of sugar plums danced in their heads
Tomorrow we will learn if the Supreme Court decide in favour of HMRC or Rangers’ liquidator, BDO, on the Big Tax Case, which saw the former club pay dozens of players, managers, other clubs’ managers, and executives, millions of pounds through Employee Benefit Trusts (EBTs) without paying Income Tax.
EBTs were designed to allow employers to assist staff with crisis loans. Most organisations do this at some point. If the sum is small enough (“Here’s £20 from petty cash to put fuel in the car”), the payback period brief enough (“Here’s £500 until payday”), or the organisational oversight not too onerous (“The boss says you can have this, pay it back when you get the insurance money through”), such agreements are often informal.
If the above conditions do not apply, the employer would need to setup a Trust, whereby it could pay the loan, which would then be repaid.
Employee Benefit Trusts were not introduced as a way to allow millionaires to avoid paying the Income Tax and National Insurance but they were exploited in exactly this manner by Rangers, whose liquidators continue to spend creditors’ money to in the hope of avoiding tax which will never fully be paid from the limited Rangers’ creditors’ pot.
If BDO are successful, tomorrow you will see many poor and disadvantaged celebrate the triumph of the rich, who have reduced money available for public services, welfare payments, health, education and even defence. The pitiful will toast the pitiless. You may despair at their lack of awareness.
I hope this doesn’t happen. I hope Income Tax hasn’t been optional for the rich all these years.
If HMRC are successful, those millionaires may find themselves with demands for the payment of Income Tax. The public purse may be in line for a small windfall.
It will not have escaped your attention that, in this circumstance, Rangers used unlawful tax arrangements for many years. Arrangements that were not legally available to other clubs. We will explore this in another blog later today.
But let’s not get ahead of ourselves. Christmas doesn’t always come; you might be onto (sugar) plumbs. Tax may be optional.
NEW CQN PODCAST WITH SFA PRESIDENT ALAN RAE OUT NOW!
Episode 2 of ‘A Celtic State of Mind’ finds Paul John Dykes and Kevin Graham discussing a variety of topical subjects concerning Celtic Football Club, including:
* Callum McGregor: The Youth of Today;
* Death of the Cult Hero;
* Norwegian Wood – Ronnie Deila’s Exit Interview;
* Farewell to The Stone Roses;
* Hillsborough: The Truth.
Paul John Dykes also chats to SFA President, Alan McRae, to challenge him over recent comments made about Celtic’s domination of Scottish football.
Connect with A Celtic State of Mind @PaulDykes and @CQNMagazine or just listen using the link below…
293 Comments- Pages:
- «
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- »
EMBRAMIKE SUPPORTING RES 12 on 4TH JULY 2017 3:47 PM
Celtic team v Slavia Prague
CELTIC Gordon; Lustig, Simunonvic, Boyata, Tierney; Brown, Rogic, McGregor; Forrest, Griffiths, Sinclair.
Armstrong and Dembele dropped as they head towards the exit door…….Record headline tomorrow
Theres no need to drive him to the airport, GMS will anyway
Brosbeforehoes CSC (apologies if thats chauvanistic or offensive)
whatevervthe putcome of tomorrow I will b listening closely to Hun responses…. This will out a few old club new club same club opinions.. They may want to distance themselves if it doesn’t come out good for them.
Sevco will be untouched regardless of tomorrows announcement, its all about Holding companies dont you know
I was obviously joking re. Armstrong and Dembele but unbelievably the Herald online headline highlighting their absense!!
What time is our kick off today
No effect on Sevco but it could have on Rangers deceased.
What strikes me as folly is that when the SMSM try and punt our whole team year on year they fail to grasp that this time we’ll be handsomely rewarded for our significant departures, which means we can sign every other mexican that SEvco couldnt fit on their bus
SMSM giving a rest to Simunovic and Tierney
BSR
If the appeal is thrown out, watch out for the instant SFA statement about there being no title stripping and we should all move on for the good of the game
In case anyone is interested. 9:45AM tomorrow, here is the link.
https://www.supremecourt.uk/news/future-judgments.html
normally, what day is our full year financial results announced ?
5pm ko this evening
This train better not be delayed….
Looks like SMSM linked the wrong Chelsea player with us.
Plus ca change CSC
GTTS
‘No appetite’ for title stripping in the land of the Sevc.
Full steam ahead no green boots onwards to the 55.
10 mill for Stuart Armstrong?
I’ll drive him to the airport myself, but only to the Premier/Holiday Inn – I’m not paying their drop-off charge…
BSRsTransfertropessatisfiedCSC
If they persist with the mythical same club mantra then Sevco are doomed by the sins of their alleged former self.
A guilty verdict is utterly crucial for the history and future of Scottish football.
Cowiebhoy – Sorry to read about the loss of you’re oul fella mo chara.
Thoughts and prayers from Beal Feirste.
KTF.
Sandman
Stuart Armstrong could be a case of hair today gone tomorrow.
SMSM mythological Celtic transfers CSC
Be genuinely hilarious if they are found guilty and claim it is the sins of the old club and they can’t be held accountable…
My son has cultivated a Stuart Armstrong hairdo…he also tries to model his game on his hero. This could be a potentially devastating blow…
cults
New club when it suits them.
Brantyre
Thanks for that
I believe Stuart will sign on to the BR Happy Bus for four more years – that seems to be the standard contract length we are currently working to (coincidentally!) – I’ll be delighted with that.
He is a cracking player – he was before he came to us, had a dip when played inconsistently and out of position, and showed great development last year under a better manager. And he looks like a Celtic player too. What’s not to like?
Many ‘i’s to be dotted and ‘t’s to be crossed in a big money contract.
BT
nip into mine for the game if your running late
Now now the Silly Billy’s will tell you (and they do genuinely believe it) Different company same club.
What happened to the Barry MacKay Leipzig money?
Made it home
WDH
K told me about your email, good news
Meet a Hun on holiday. He worked believe or not in the tax office. He seemed a well educated man. I asked him what he thought about the tax dodge. His answer, it was all down to the board mainly Murray but not the team. They are ALL so in denial.
TImjim
Shallow response from the guy, the team benefitted, none other that Murray admitted so when he said it allowed them to attract players they could not otherwise afford at the first tax hearing.
A Hun working in the tax office?
There are so many gags In that one
We seem reluctant to go forward, when we do we look dangerous
Impressive first 20 minutes or so.
Ref a wee bit too tolerant to late tackles on our players.
We need to consider taking the players off the pitch, this mob are doing at hatchet job on us, they should have 2 reds at least.
Some good stuff here from the bhoys!
Great run from JF, cut back to Tom good save from the keeper
This mob are at it with their tackles
Anyone having problems viewing?