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
Johny H keeps falling over.
Wrong boot choice?
Ghuys
Spare a thought for the late L53 who passed on 5 yeasrs ago today. . Tempus Fugit
L57
Brown gets fouled. Ref gives then speaks to Brown?
Total homer
Johnny having a mare
Nir comes on for Calum.
78 minutes. 0-0
Bitton for McG
FAN-A-TIC
Looks as if he has them on the wrong feet.
Dallas still keeping his hand in…
TIMREAPER
He has fallen over or lost possession constantly
Another DOB with dirty tackle and ref lenient
Its like playing the the rangers
Looks like we signed Geoffrey Hayes
FK in 89 minute. Maybe a wee bit too far.
Nir shoots weakly at keeper
Good workout, better team by a mile, they didn’t lay a glove in 2nd half. Broonie and KT imperious. Fitness levels look good. On we go.
FT 0-0
Tousy game from Slavia.
We had most of the game but neither keeper was overworked.
Not passes long range free kick to their goalie
Weak effort
Guy booked for foul on JF
They probably had over 20 fouls
Officially 24 Slavia played like Huns with a Scots ref
Ft 0-0
Happy for final whistle due to player safety
L57
Remember his requiem mass being shown live via u tube
God bless his soul
Dire viewing even for a friendly.
Celtic and Prague happy with a draw and we didn’t bust a gut trying to score.
Looked closer to fitness but we’re missing something.
would be nice but I won’t hold my breath
https://stv.tv/news/west-central/1392797-orange-marches-could-face-ban-amid-sectarianism-probe/
Vg performance from Celtic. Each change didn’t affect the fluency of the side. The sign of a vg squad and quality manager.
Tom Rogic was immense at times.
new article posted.
BUICK MAKANE on 4TH JULY 2017 6:58 PM
would be nice but I won’t hold my breath
——-
Neither will I.
It will no doubt be a ‘tiny minority’ of an ‘otherwise trouble-free festival’.
The fact that it is a festival of hate, intimidation and intolerance along the lines of Kristallnacht – oh, why bother.
One country. Many cultures. Yeah, right.
Mastermind on the hun commentary, apparently Luxemburg is a small country geographically.
Glad to see our game eventually finish due to the referee allowing Slavia carte blanche to foul our players.
Apparently Radio Luxemburg used to broadcast from a ship. You learn something new from the huns on a daily basis.
Can’t get on site. Sevco are 2 down against the Progressive Building Society.
New season but the gift that keeps giving delivers. Well done Sevco !
Do Soft Loans Co. now proceed to the qualifying round of the Petrofac Cup?