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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tallybhoy
21:06 on
13 September, 2012
Well done, that mhan…….BRILLIANT……!!!!
Blantyretim.
I decided to open a bottle of wine Gran Reserva 2004 Rioja.quite nice,Re the whisky evaporating,that’s happened to me a few times,But it wasn’t evaporation,just a fly few sups,when you go back to the bottle it seems to have evaporated.
Tallybhoy
good man
javea_bhoy
20:37 on
13 September, 2012
Can you fly from there to Lisbon? Some mates of mine are there for the Benfica game but not sure they knew where Alicante was!!
I think they failed their geography o level……….
oldtim
the bottle hasn’t been opened..
It is a Celtic directors reserve distilled in 1967…
pretty disappointed TBH but will just need to drink it now..
waiting on Mrs and mini coming in before I do as there is no way they will believe me..o))
It’s not just whisky that evaporates – seems to happen to gin, vodka, brandy, rum and wine as well!
Funny that.
HH!!
Belter from RangersMedia:
Here is a question to all the taigs out there,,
When jesus died on the cross and then was resurrected later on,should Catholics not call him newco Jesus?
Furthermore should he be stripped of all past miracles.
WATP
And they wonder why people utterly despise them.
It’s a good job the four siblings in The Lion, The Witch And The Wardrobe were not Huns – otherwise they would not have returned to reality.
Thought for the day after watching a dvd with the weans.
wonkyradar
21:12 on 13 September, 2012
Belter from RangersMedia:
Here is a question to all the taigs out there,,
When jesus died on the cross and then was resurrected later on,should Catholics not call him newco Jesus?
Furthermore should he be stripped of all past miracles.
WATP
And they wonder why people utterly despise them.
are protestants not Christians too?????
M7
that clown isn’t even human never mind christian..
exiled tim & others off to Lisbon
A beautifull city, been a few times, through footy & family, have family there. If there for a couple of days, try a night in Cascais, 20mins in taxi, fantastic square with plenty of local hostalries, port a fine treat, taxi ride takes you past casino in Estoril, you can just imagine wee jinky & co’s frolics. One of the nicest/best cities i have ever visited. Enjoy.
Jeeeeezo…..
…no anurrra wan?
twinbhoy
21:04 on 13 September, 2012
The SNP never had, and WILL never have, the bhun vote…….and they know better than to add to the already horrendous corruption …..they would be found out, BIGTIME
Celtic_First
21:07 on
13 September, 2012
wonkyradar at 20:23
Bertrand Russell self-identified as an agnostic.
“No one can sit at the bedside of a dying child and still believe in God.”
Russell determined man to be “the product of causes … his origin, his growth, his hopes and fears, his loves and his beliefs, are but the outcome of accidental collocations of atoms, that no fire, no heroism, no intensity of thought and feeling, can preserve an individual life beyond the grave; that all the labors of the ages, all the inspiration, all the noonday brightness of human genius are destined to extinction in the vast death of the solar system, that the whole temple of man’s achievement must inevitably be buried beneath the debris of a universe in ruins—all these things, if not quite beyond dispute, are so nearly certain, that no philosophy which rejects them can hope to stand.
I would call that Atheism.
blantyretim
21:17 on 13 September, 2012
M7
that clown isn’t even human never mind christian..
well that’s true, IQ about 9, definately not double figures, probably a few points behind Lassie
Magnificentseven 21:14 on 13 September, 2012
“are protestants not Christians too?”
They are. But you don’t want to confuse them any more than they already are.
Tears before bedtime and all that…
Tallybhoy
21:06 on 13 September, 2012
Grazie mille.
I’m heading in to CP in the morning to sign up before I head off.
@67Heaven … I am Neil Lennon..!!.. Ibrox belongs to the creditors
hopefully.. they have a lot of corporate money!
Newco Jesus???
I find that quite funny actually.
SPF
its Sevco anyway….
Magnificentseven
21:14 on
13 September, 2012
wonkyradar
are protestants not Christians too?????
Scary stuff indeed. To be fair on one page of RM I did read the replies and they were more or less unanimous in their criticism of said cretin.
A buffoon of the lowest order.
midfield maestro
Thanks for the info.
Am going to make a few days out of it, will give it a go, always good to go somewhere recomended.
HH
wonkyradar
They truly are despicable. Honestly don’t now how you can stomach their madness.
Are any of the Barcelona based Bhoys on tonight ?
Magnificent seven
What they fail to understand is that all horror movies get sequels because it is a franchise to make money and a public demand to see such vile acts of depravity will never end. Sevco The Rangers Franchise is no different.
Jesus on the other hand was eternal from the beginning.
Crucifixion I think is different from liquidation.
Tallybhoy
Great stuff. Well done. You should be proud of yourself !
Auldheid
Prego!
Hope to have it all sorted out by next week.
Buon viaggio!
HH!!
oldtim67
What’s the wine called ?
From Twitter:
Newsnight Scotland@NewsnightScot
Tonight we’ll discuss the future of two endangered Scottish beasts – the press and the wildcat. BBC2 at 11pm
Snake Plissken
21:25 on 13 September, 2012
Crucifixion I think is different from liquidation.
aye at least with crucifixion http://www.youtube.com/watch?v=SJUhlRoBL8M
Been abroad on business for a couple of days and just catching up on the blog.
Don’t people realize that W H Smith stands for Walter “Hide they books for f***s sake” Smith.
I thought everybody knew that…
prestonpans bhoys
I don’t think there is a direct flight from Alicante,it goes via Madrid.
Direct your mates to http://www.vueling.com/en/
The uber-member of the in-house RangersMedia intelligentsia OlegKuznetsov posts the following:
Without EBTs, Murray would just have built a larger debt. “Players we couldn’t otherwise have afforded” is just propaganda.
He cannot rationally counter the argument he denigrates- why then make a post of it? All he serves to do is prove the veracity of the argument.
What a dobber.
Stoneface an’ McCrummoch………..
*night-night*
wonkyradar
21:19 on 13 September, 2012
I read his stuff but decided to call it despair and decided to hope instead.
Does love consist of atoms? Does trust, care, fortitude etc? There is so much of the essence of life that is not material in terms of being a crowd of atoms held together by magnetism that it should not be dismissed lightly.
Does it mean BR is wrong? Havent a clue but it enables me to give life some meaning even after witnessing two painful deaths of my father in law and brother in law from cancer in the past year. That challenges yer beliefs ok, but I would rather hope that the spirit will endure.
Wonky
Tell the hun Jesus never ripped off half of Jerusalem and tried to get away with it,his past miracles were also his own in the first place.
Good Evening,
I think tonight of an image and an emotion that has stayed with me for over 21 years.
I make no apology for being what is often described as a ” people person”. I like people. I find different individuals interesting and am often left in awe at what some “ordinary” and “unknown” people do with their time. I like meeting new people and hearing of their experiences and talents.
I love to hear of people doing well, achieving things and generally making a right good fist of life and family.
The flip side of that is that I can’t help feel a sympathy and an empathy with people who are going through a hard time for whatever reason, especially when their troubles are the kind of troubles that I cannot come close to imagining.
So back to the image in my head. It is February 1991 and my television is filled with the drawn, gaunt and haunted face of Kenneth Mathieson Dalglish, who is explaining why he has decided to resign as manager of Liverpool Football Club.
His team are top of the league and it is only two days after the famous 4-4 draw with neighbours Everton in the FA cup. Liverpool are chasing their 4th title in 6 years. In Football terms, Dalglish is a Merseyside God. In personal terms, he is burnt out and a mere shadow of the man that so often boasted a huge wide smile when scoring a goal.
Kenny explains that for the first time, he has had to make a decision which puts Kenny Dalglish and the Dalglish family before club…. and before football. He is clearly in trouble.
To this day, the overwhelming emotion that runs through me when I think of that image is…. Pride.
I was SO proud of Kenny Dalglish that night. He bared his soul, spoke with honesty and honour, revealed his pain, his failings and his difficulties… and made it obvious to all that his anguish and stress had had a knock on effect on his wife and family that he “didn’y like”… and so it was time to walk away from a club and a game that he loved dearly.
It was a dignified, honourable and brave decision and performance.
The reason for Dalglish’s dramatic and unexpected action can be summed up in one word.
Hillsborough.
Kenny Dalglish was the manager of the Liverpool team that tragic day– but he was the leader of a community- possibly a whole city and beyond in the days after.
A motion was placed before Parliament suggesting that he be knighted for his services to football way back then– and the services concerned were his playing skills, his management, and his immense presence off the field in those dark days. Had he and the club really lobbied to have the motion passed then I have no doubt that the king would have become a knight.
He went to funeral after funeral– famously going to 4 services in the one day– and took on an emotional routine and committment that could not have failed to have a long lasting effect on the most hardened of men.
It is for that reason– as well as his playing skills– that Kenny Dalglish will always be ” King Kenny” on Mersyside– and no football results or unsuccessful transfers will ever chnge that.
Yet Dalglish’s anguish and stress compares as nothing to what was suffered by the families and friends of the dead, and the survivors who managed to scramble out only to leave friends and relatives behind. That anguish was made all the greater when both the dead and the living were publicly demonised and unjustly damned for being the drunken and unruly cause of so many deaths.
Now, 23 years on we discover that not only was that demonisation unjust, but that there was a considered, deliberate, and specific plan on the part of officers of the South Yorkshire Police force to falsify evidence, doctor documents, alter statements and commit perjury– all in an attempt to villify the dead and the innocent— for their own self interest.
Think on this for a moment.
31 of those who ultimately died could in fact have been saved… and could be alive today. In each and every one of those cases the coroners report was hopelessly and factually wrong.
Virtually all of the evidence given by the police to– and therefore many of the conclusions made by—- the Taylor enquiry– lacks accuracy and foundation and so cannot be relied upon.
The Police force deliberately and calculatedly fed false evidence and downright lies to the Sun Newspaper.. and so used that newspaper for the purpose of propogating not just a spin on events, but a wholly false story designed to cover up their own failings and misdemeanors, and to wholly mislead the public at large.
Further, the Football authorities, swallowed those lies line hook line and sinker with the result that the then supremo ( Graham Taylor ) amplified and broadcast the same story– and others like Boris Johnson- as editor of the spectator– were able to repeat the calimony as if it were absolute fact several years later.
ALL SHOULD APOLOGISE WHOLEHEARTEDLY FOR GETTING THINGS SO WRONG.
The lies and the cover up engineered by the police that day changed football forever. I am not saying that grounds did not need improving and refurbishment- but remember that the same testimony that is now being demolished in this latest report, played a large part in Lord Justice Taylor recommending that grounds become all seated– causing clubs to spend fortunes in refurbishment, health and safety, risk assessment and so on.
Capacities were reduced, income was reduced, expenditure was increased, bank loans were undertaken, interest incurred and costs rocketed. In some cases, hitherto successful clubs had to sacrifice on field success to finance the steps necessay for compliance. Some have never recovered in the footballing sense.
Now of course all of that pales into insignificance against the loss of 96 lives and the grief that has endured ever since that fateful day. Further, many of the stadia that have now been upgraded were in dire need of demolition or refurbishment, and there can be no doubt that the modern stadia that we have today offer far greater safety and improved facilities for the spectator.
However, the fact remains that the report that brought all of that about was based on lies, damned lies and yes false statistics and reports prepared by South Yorkshire Police Force.
The point here is that lies have consequences– consequences which go way beyond the purposes envisaged by those who do the lying.
Now that the truth is out, there are calls for prosecutions, there are calls for justice, there are calls for retribution– all of which will make some people sleep very uneasy in their beds tonight. Yet the truth is that no one can undo the consequences of the lies and the cover up, because there is no system in place to take back time and undo what flowed naturally and consequentially from those untruths.
And there is the point– truth. Truth is not a negotiable instrument. It can’t be cashed in for a few bits of truth, a lie or two and a compromise. No Truth is absolute.
Whatsmore, when the police or some other colective body of individuals seek to suppress the truth– by way of cover up, lies, obfuscation and deception– someone, somewhere will smell it and recognise it for what it is… eventually.
Those who have control or in authority are entrusted with those positions and that power, on the basis that they will act with honour. That word, honour, is a kind of old fashioned word and is perhaps a bit out of use. That is to be regretted, because without honour– a police force, a football club, an official body, an individual– has lost its way in society and serves no purpose whatsoever unless it can regain that honour– and the honour concerned cannot be awarded by any third party– it has to come from within.
According to many- including a former home secretary and a former Chief Constable– the only way that the “system” under which we live can regain its honour with regard to Hillsborough is to seek out, discipline and prosecute the wrongdoers who were responsible for the lies and the cover up. They are calling for the application of society’s rules without fear or favour- without deviation or compromise– that is how you act— and are seen to act honourably.
That principle applies to any situation where there has been wrongdoing and an attempt to cover it up.
Further, hopefully the newspaper industry will take a good look at itself and consider how one of the most popular publications in the land was deliberately and cynically used to peddle what turned out to be innacurate, self serving criminal propaganda, and how it did so in an attempt at sensationalism and ever larger copy sales.
Kenny Dalglish might no longer be employed in football or by Liverpool FC, but amidst the family that he holds so dear, and among the people of Liverpool ( both Red and Blue ) he will always be King Kenny purely because he acted with honour— even when it was very very tough to do so!
Great stuff on TSFM today highlighting Green’s various fiascos down through the years.
Anything that guy touches fails and it’s not hard to find.
Read Paul McC’s blog for detail.
kdc
13:31 on
13 September, 2012
I was under the understanding that verbal agreements were contractually binding in Scots law (I seem to recall a court case that hinged on this recently but I may well have this completely about face). Can someone set me straight on this?
————————————————————————————————
you get in a taxi, you establish a contract; you sit down in a restaurant, you have a contract; as soon as you order something, destination or food, there’s a contract. If you leave the taxi or restaurant without paying, you will be charged with Fraud, no theft, fraud. Fraud is seen as a far more serious crime. If you sign a declaration that you’re looking for work but are currently unemployed, and it’s not true then that’s fraud. Verbal agreements aren’t necessarily binding, it’s your actions that bind you.