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…
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Gene/WeeBobbyCollins
I pray you Bhoys are wrong but unfortunately you are probably right!
We live in hope
HH
Burghbhoy
I hope I am too
Why are we playing without sponsors logos on the jerseys?
Not that I’m complaining, lovely to see the virgin Hoops, just intrigued.
Thanks for the updates BTW ghents and lhadies. Have just taken out subscription to CTV but there are teething troubles.
Can you say ‘virgin’ on CQN?
Slavia intellectuals are their Green Brigade
Bloody lefty university types ☘️☘️
Hun scum on tour…..
https://twitter.com/bheanyarla/status/882279330935603200
THETIMREAPER on 4TH JULY 2017 6:02 PM
JUDE2005 IS NEIL LENNON \O/ on 4TH JULY 2017 6:00 PM
WHATS THIS NONSENSE ABOUT ARMSTRONG???
—-
Offered new deal but rejected it. Talks have broken down.
—
Hi mate
Reliable source or made up pish?
HH
BGFC
Blinking flip Sinky
GREENINBINGLEYINOSLO
Can you say virgin on cqn
Only if it is preceded by ‘the’ and followed by ‘ Mary’
Sinclair continues his missed sitters sequence
Miss kick by Scot Sinclair
Eric and Armstrong due on next
Sinky should have scored there.
He is off the pace a little
Is Sinky wearing green boots?
They are dirty.
Lots of late tackles
TheTimReaper
There have been a lot of words coined to describe them over my years on the planet.
I am comfortable with one of the first I came across in the 60s.
Animals.
Superb pass by Rogic Leigh offside
BIG GEORGES FAN CLUB – HAIL, HAIL, WEE OSCAR on 4TH JULY 2017 6:12 PM
THETIMREAPER on 4TH JULY 2017 6:02 PM
JUDE2005 IS NEIL LENNON \O/ on 4TH JULY 2017 6:00 PM
WHATS THIS NONSENSE ABOUT ARMSTRONG???
—-
Offered new deal but rejected it. Talks have broken down.
—
Hi mate
Reliable source or made up pish?
HH
—–
Common knowledge. He rejected first round of negotiations. Talks were put on hold till seasons end and hadn’t restarted as of last week.
Nice control and through pass from Tom. LG just offside
Mcgergor takes for ever then misses
After wasting 3 opportunities to shoot
Great skill CMcG but shoots wide
CM dillies, dallies, shoots wide
Rogic looking superb , slack pass from LG comes to nothing
Great skill Tom.
No9 finally booked
INVINCIBLE ‘GG on 4TH JULY 2017 6:20 PM
just in whats score
#9 finally gets yellow after numerous fouls
Forrest chopped down
LG free kick over bar
Armstrong Moussa and Eric on for LG
Jozo and Scott Sinclair
Leigh hooked for Moussa
LG FK over.
61 minutes 0-0
MD replaces Leigh
ES replace Jozo
Teasy Weasy on for Sinclair.
The Prague David Weir booked at last
BTW.
New strip sans sponsors looks pretty bonnie
All together now, “In the heat of Lisbon……”
That’s the way to do it :-)
TIMREAPER
Cheers – thought there had been something new today the way people were speaking.
Brendan seems relaxed – I will remain chilled too.
HH
BGFC
Wee Jamesy one on one v fullback there could’ve done a lot better
Broonie puts a marker down, booked.
Yellow for Brown. Fed up with the number of fouls against us.
Brown booked
CM indecisive in counter. Shut down as we got players forward.