The SPL yesterday released a statement concerning the Employee Benefit Trust payment Celtic made in 2005 to Juninho, in response to what sounded like unfounded allegations made earlier this week.
The league noted, “we have seen reports regarding an EBT in relation to a former player of Celtic FC. The SPL has investigated the arrangements and documentation in that case and has determined that there is no evidence of any breach of SPL Rules”.
Many good employers have understood the benefit of assisting individual members of staff during times of crisis or personal hardship. One very practical way of doing this is to lend them money, which happens in businesses up and down the country every day. When the nature of these transactions involve either a company of sufficient size, a lengthy repayment period, or a high value loan, a formal structure is needed to establish the terms of the transaction, not only for the benefit of employer and employee, but also for the tax authorities – who authorise tax-free payments of this kind.
These tax rules were not established to allow wealthy individuals to escape their social duty.
Not long after Rangers first operated an Employee Benefit Trust Celtic were approached and offered consultancy to establish a similar scheme. The promised benefits were huge, vast quantities of cash would no longer go to HMRC and would be freed up to spend on new players.
Celtic were not convinced.
Loans would need to be repaid and if not, contractually binding transactions would need to be documented in accordance with SPL and SFA rules, and this very documentation would make them liable for tax. For Celtic, EBTs could only be used in limited circumstances, would be unable to deliver a significant impact on the business, and would introduce a further layer of professional costs.
“How can these work?” That was the question. How on earth can a club pay millions of pounds into a Trust none of which is contractual? Players, and their agents, like to have things written down. If you write it down and inform the authorities, you’re taxed on it. Celtic were not prepared to enter any written agreement and not declare it to their auditors, HMRC or the football authorities.
What was the cost of this principled stance?
In season 2004-05 former World Cup winner, Juninho, arrived at Celtic from Middlesbrough on a straightforward contract, his only contract with the club, which was correctly registered with the football authorities. He only lasted eight months before agreeing to terminate his deal. Celtic made a payment of around £750k into an EBT the player had from before his time at the club.
Celtic informed HMRC of the details of their EBT transaction with Juninho and were told this was regarded as income, not a loan, and that they would need to pay tax. Celtic then paid tax due on top of the £750k which went to Juninho. It was a pointless and expensive exercise for Celtic, but they dealt with it honestly and openly.
The club’s understandings of EBTs from five years earlier were confirmed, this was not a way to avoid taxation by filtering part of a player’s income away from PAYE. Board members of any other club which understood how to make this work were clearly a lot smarter than our guys. They were also able to buy players and win leagues while our board were hammered daily for their prudent values.
I bet directors at that other club are sounding pretty contrite now, humbled by the emerging news. There will be no self-serving vainglorious rabble rousing.
Far from Celtic being subject to criticism on this matter, scrutiny of their actions will only reveal the stark cost of following the rules when others don’t.
Congratulations to the campaigners who for 23 years sought Justice for the 96. We all watch the game in a safer environment because of the loss endured by the families bereaved at Hillsborough. Yesterday’s report condemns the actions of many: some senior police officers, sections of the media, one or two of who should never work in the industry again, and a former MP, whose actions were truly appalling, and who remains a knight of the realm, but those running the game, those responsible for Health and Safety standards, and various governments have a responsibility to bear.
Dangerous crushing inside and outside football grounds was a fact of life in the 1980s, including at the Janefield St entrance to Celtic Park.
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starry plough
19:34 on 13 September, 2012
Having looked at his twitter feed I agree with you that he’s misjudged this one.
Second goal (penalty) for Atajic.
TootingTim
He’s a narcissistic thug is wot he is!!
Mirrors on the ceiling for sure..
starry plough:
I think Fry might be in the same Atheistic-Humanist set as Dawkins and Jonathan Meades ( who I like a lot and is at least an truly intelligent atheist).
People who have a stereotyped idea of what a clever person is believe that to be an intellectual you have to be an atheist. Of course there are many people who are stupid who don’t believe in God and many clever folk who do. Those who believe in such 19th Century stereotypes also assume that the more aggressive your atheism the more intellectual you appear. Intellectual chauvinism?
Fry and Dawkins should be forced into a small room to read Kant’s “Critique of Pure Reason”- then if they are still rabid militant atheists we would know once and for all that they are just educated fools with a personal axe to grind.
Personally Fry makes me think of this Tolstoy quote:
He never chooses an opinion; he just wears whatever happens to be in style.
Wonder if he got it from a certain ex-head of refereeing at the SFA…
Starry Plough
It alters nothing.
Stephen Fry is a Fud.
A pathetic cry baby fud.
If you’ve had a go at him, he’s probably run off to Paris without telling anyone, crying all the way.
Well that’s what he usually does.
Anyway, it could have been worse……..he could’ve been a muslim!
BT
Only following the thread of the blog
Like when the live updates are on, only ever talk about the game.
I couldn’t give a jot anyways :>)
TeT
No, I meant oldtim was talking about you and the trip to Barca..
ha ha…
Auld “p**h stained alky” (google it) has done that many 3 point turns on Murray/Whyte/Green he doesn’t need the swally to make himself doolally.
BT
You might have said that then :>)
CrystalballCSC
wonkyradar 19:39
Nice to see mention of the Königsberger on CQN :-)
GermanPhilosophyCSC
Keevins says he is talking ethics but the caller is entitled to his opinion.
What a cheek !
As far as I can tell from traipsing around on here for most of my lazy worthless day, we are going to win 3-1 next week v Benfica. I doubt that assertion, but not having a clue as to what kind of lineup NL will put out next week it’s hard to know what to say. I imagine we’ll get a better picture when the squad is announced for the St. J. match at the weekend and we see who is fit enough to at least be on the subs. bench.
Our squad seems to be strong, but I am unsure of what injuries various crucial personalities are carrying. And I’ve rarely understood a football mgr’s thinking.
I believe we will win. The margin? No idea.
Thanks Bhoys for the Fry-up, I’ll know better the next time than to dig up an intellectual…
Holy Moly Social Networking phew!!
Mon the Young Hoops..
TKF Predictor – Champions League!!
Evening Bhoys’n’Ghirls!
Just a wee note to let you all know that as with Euro 2012, The Kano Foundation are “running” a Champions League Predictor.
Its free to enter, is just for a bit of fun, allows us to have a Celtic interest and also gives you the chance to get tore into your fellow CQNers (and any others who want to join in of course) for their lack of footie knowledge, whilst proclaiming your brilliance :-)
To join just click on the following link:
http://www.superbru.com/championsleague/pool.asp?p=11023977
Pool name: TKF – Champs League Predictor
Pool code: wifepush
Ask to join and once approved (you will be…honest!) away you go!
Hope to see a good response for this.
BTW for those already registered with the EPL predictor, your points from the CL predictor will be added to your EPL total at the end of the season to determine the winners, so mind and get your predictions in for both comps!
Cheers and Good Luck
HAIL! HAIL!
Token
PS – The Pool Code was randomly generated, probably by some Sevco fan ;-)
I tried to read Kant…..couldne cope. Not clever enough. By the time I abandoned the effort I felt like a proper…..
Sartre’s easier on the brain, but his rep. has taken such a battering….
I like philosophy when it’s digested via fiction, such as Hermann Hesse.
But then again…..there is a lot to be said for football as philosophy in action.
HH!
PseudsCorner CSC
miki67:
I think Miku will either start on Sat, although I doubt it, or see a whole lot of action, just to get him ready for the Benfica game- I think its just too early for Nouioui. By all accounts he is nowhere near match fitness. We still have Watt and Hooper- they will start against St Johnstone I think. Sammi is a big blow. Especially in Europe.
Dawkins is brilliant!
cyclists
Road To Glory now on Atlantic
The role of the domestique….water carriers
handy info for the Paddy’s Day 2013 charity rode for wee Oscar
HH
Miki67, by coincidence, I’m just reading Hesse’s Narciss and Goldmund (a bit late, I know). Pretty raunchy stuff :-)
Any info on the Welsh bhoys, also Charlie ?
TET @ 19:35
Okay dokay……….was in the ticket office yesterday picking up my St Johnstone ticket
Guy behind me was enquiring if any CL tickets left And was told only Jock Stein lounge at £300 for 3 match package So I imagine the rest of the ground is a sellout
BTW ……will you make it down to Barcelona or will the Bears be hibernating in their caves by then
just went into celtic page, only £300.00 packages left…
TeT
think Lenny said only big sammi injured from international break
Daily Mail:
St Johnstone manager Steve Lomas faces an anxious wait to see what sort of team he can field for the visit of Celtic in the Clydesdale Bank Premier League on Saturday after seven players were hit by a virus.
Saints were due to train at Stirling University on Thursday morning but after fielding calls from ill players at the campus the Northern Irishman called off the session.
Lomas will have a roll call in the morning but any withdrawals at all is bound to have an effect on a side struggling at the bottom of the SPL table with two points from five games.
‘We’ve had to cancel training this morning because there are six or seven players down with a bug,’ he said.
‘There’s not much we can do about it, we will see how things are on Friday.’
*********continues…..
mickbhoy1888
That’s good news.
Aye, will make it Up to Barca, all booked up, will make Lisbon as well, have to take the wife to Lisbon though.
No bears tho, still warm enough here in november, now january :>)
BT
Charlie and Joe were injured before, they weren’t away on int duty
TootingTim
20:10 on
13 September, 2012
yep St Johnstone fan at work thinks the game will be cancelled. Booked a B&B so going up anyway:-)
TeT
think Charlie will be ok,
not sure how bad Joe Ledley was..
Might be a bit paranoid but I can see St Johnstone seeking a cancellation of Saturdays game
Thus depriving Celtic of any match practice before the European tie
Blantyrekev.
Saw your post earlier,re benfiica tickets.
I informed my mate who put in a bid.
He received an e-mail from the bloke selling them.It appears that celtic had asked e-bay to pull it from their site and as being the highest bidder he’s was offered first option.
You’ve made a good celtic man and his son very happy.cheers for the info bk.hh
miki67
19:56 on
13 September, 2012
I tried to read Kant…..couldne cope
To be fair Kant was very academic-technical in his philosophical language. If you want to get through the door, so to speak, your better doing it via an invitation of someone else’s interpretation of his thought- an introduction as it were. Most of the great philosophers of the 18-early19thC were very technical writers, a bit turgid at times, reaching a peak in someone like Locke ( that’s not to dis the guys ideas). Kierkegaard probably changed a lot of that with his more ‘informal’ style and his denigration of ‘systems’, mainly Hegels. Kierkegaard more than anyone led the way for modern ‘aphoristic’ writers, like Nietzsche, who had no real interest in building a superstructure of ideas. Heidegger in the modern era is another great thinker who was overly technical in his language, say compare to someone like Wittgenstein, who proves that you can be an innovative thinker and yet use a very clear simplicity in his expressions and in my opinion is a joy to read- Wittgenstein’s “Philosophical Investigations” is the greatest philosophical masterpiece of the 20thC and is a mine of inspiration. It is compulsory reading. Everyone should own a copy.
Received my copy of DOWNFALL ( Phils book ) today from Amazon , despite receiving an email from them 2 days ago saying I wouldn’t get it until October – ya beauty.
Might just take it into work tomorrow :-))))
Hat-trick for Atajic
BT
With a bit of luck Joe might be ok for wed, I also forgot about Beram !!!
……………………….
mickbhoy1888
I think they will probably ask, but I don’t think there is any chance of a cancellation, but you never know, it’s Celtic and scotland after all.
THE EXILED TIM.
When BT said I was talking about you,it wasn’t about you,it was where are we going to meet up for a drink in Barcelona,is Auldheid coming over,I don’t think I’ve met him yet ,that will be good to meet someone from the blog.
I was making plans for when we go to have a look at the church Familia Sagada (sp),he can go in ,there’s plenty watering hole next to it for me.Our hotel is about 3/4 mile from Las Ramblas so will be easy to meet you there,your staying about 200 yds from the bottom of Las Ramblas,good eating place around there,eat all you want for 8 euros the last time I was there.
We’re arriving there on the Sunday,so plenty time to do some exploring before the big game.
TET
Booked up with Thomas Cook for both Lisbon and Barca however they can’t confirm the booking until after the Spartak away game……..
From:
Date: 7 September 2012 13:42:21 GMT+01:00
Subject: ***Thomas Cook Sport – FC Barcelona v Celtic FC – Important Information***
FC Barcelona v Celtic FC
Thank you for applying to travel with Celtic FC and Thomas Cook Sport.
We would like to take this opportunity to update you about some details of your trip.
Selling Criteria and Confirmation Dates
Trips will be confirmed in line with the club’s selling criteria. The selling criteria has not yet been announced by Celtic FC and we cannot start to confirm applications until we have received this information from the club. It is possible that this may not happen until after the Spartak Moscow v Celtic fixture which takes place before the FC Barcelona fixture.
We will endeavour to keep you updated with any information in this regard as and when we receive it.
skyisalandfill
20:00 on
13 September, 2012
Dawkins is brilliant!
Why? He ain’t no Bertrand Russell- at least he was a truly formidable atheist with redoubtable rational rigour- can’t say I’ve seen the same in Dawkins to be honest.
Being unaware of the details of the Juninho debate I posted here a while ago, in reply to a comment by Paul67 which stated that he was sure Celtic were in the clear on Juninho. This was at a time when the Juninho question would be a standard response you would get to any mention of dual contracts to an ex-Rangers/Sevco fan.
What I like even more than the unequivocal statement from the authorities is the timing of it. Don’t response to the rabble. Respond to the rabble rouser at the correct time. A well timed slap down.
A quote from Paul about not interuptting when people are making mistakes comes to mind.
Sorry I ever doubted you Paul.
QB
P.S. wonkyradar @ 12.50 – thanks for the mention of / link to Desiderata. I used to have an untitled print of that which I lost some time ago and I never could find it.