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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The problems being encountered by the above poster re. emails must be maddening.
Is it possible to get in touch with Microsoft via a different i.p?
They must surely resolve it as they will definitely have all emails from clients accounts.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS-I had same problem with a hotmail account mate,same routine,customer support a joke as kept directing me to web details .Gave up on it eventually.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
18:49 on 13 September, 2012
Found this on the Microsoft website, hope it helps (can’t do the link, but you should be able to C&P)
http://windows.microsoft.com/en-US/hotmail/account-temporarily-blocked-faq
Looks like I can do the linky thing!
Is this site of any use?
http://en.kioskea.net/forum/affich-649856-blocked-hotmail-account
Any CQN’rs looking for a ticket for the Benfica game next week? I have one for sale. I bought my 3 match package but find myself unable to go to the first match.
I am looking for £25 for ticket, anybody interested please get in touch.
Wonky radar
Even my wife loved that!
http://autodiscover.wordpress.com/2012/01/07/the-definite-solution-for-hotmail-error-your-account-has-been-blocked-hotmail-microsoft-msn/
paul 67, best piece i have read about eBT’s and especially the wee mecurial brazillian who had a 7 month sabbatical in paradise.
Should be printed in every newspaper and football website and read out on every phonein.
when will the stupid stupid huns get it that the sfa are not punishing hem for the improper use of the ebts, that punishment will come straight from hector in october, but thy are being punished by the sfa for playig inelgible players due to fact that they did not register them properly as they had illegal side contracts.
One properly administered player at celtic does not equate to 50 odd orcs over 10-20 yrs.
What do they not get about this.
etims article said that do feel sorry for “ordinary” huns, but if they give one penny to greene in way of season tickets, merchandise but especially shares then all sympathy gone as clearly they have it coming to them.
Gringo gives a getting-to-know-the-orcs interview for FF:
Mr Green how do we, the The Rangers fans, know we can trust you?
Un ‘undred percent Yorkshaman! twoa type o’ fowk i’ dis world fowk fra Yorksha ‘n fowk ‘a’ want ta be fra Yorksha! God’s back patio! If honesty wir money then Yorkshur wid be London me lad. Where men smell like men- stale beer and pigeons. I’m jist a down ta Earth ard workin roast beef and two veg plain and simple Yorkshur man. Me old nanna used to stand oer me cot wae flatcap on playin er ukulele n singing “Ilkley Moor bah tat” when a wiz nought bitta bairn. We Greens av bin ere since Yorkshire wo crammed wa Plesiosaurs! Tha can’t git more yorkshire can thy lads en lasses. We love ur graaaaveyyyy! Puddin in the morning, puddin at lunch, puddin at supper and all served wi gravy! Even had gravy on me sticky parkin! Gravy n drippin. None o’ that arsey farty European muck.
Can you tell us how you met your wife?
So there a wa’ sat in t’pub, rub a dub dub with me great big tub,saw this bird, went an ad a word, wanted to pull her like nowt absurd!!!…I said eyup lad yes am a mucker a think of me sen great good lookerim a barnsley man,im a stereotypical lad a go on t’tarn got as much manners as chubby brown oh aye. We wiz married n t’Saturday, by t’Sunday we had tit honeymoon downt pit, and by t’Monday the kids wir tit school.
Can we really trust you Mr Green?
I used to live with a southern fairy who used to think i was speaking a foreign language when i said ‘im goin ova Ilkley moor ba’tat’ Im a nothern monkey and proud to be from YORKSHIRE. It was ok for him (norfolk lad may i add)to say ‘ride yee steedy boi’ what ever next. Ali asked me for some money for t’players and I told him: “A Yorkshurman gives yae nought fir nought! If yae want thee skids from thee y-fronts then it will be a fight till death!” Me old father was a champion ferret legger. God rest his soul. He could keep a ferret downt trousers longer than’t any man int Barnsley. True story that. Before he jumped off Bempton Cliffs he said: “A well fed ferret will never chew on thee tadger.” That advice has served thee well throughout much crisis in thou’t life.
Sevco Media would not be so confused over these issues if they understood the meaning of liquidation.
They have no excuse for being so stupid. But it is no surprise that they are. Remember these clowns met Craig Whyte at least three times and their only reaction was to call for a boycott of the BBC.
Hopeless.
Microsoft are migrating hotmail accounts to outlook. I only know this coz my mrs. has a hotmail account and has asked me of all people to make sure the transition goes smoothly.
I feel for anyone having computer problems. Maddening occurrences.
Hope you get it resolved, bmcuw.
John Anthony.
I’ll take it.
Get my email from Paul.
EC67
What’s the story with Stephen Fry anyone??
I just got hundreds of abusive messages on Twitter for daring to call him out on a post making fun of child abuse and the Pope.
People seemed to assume I was some kind of Christian fundamentalist and or catholic supporter of the Popes stance on these issues plus the usual rag tag bunch of Sevconians using Mr Fry’s hugely over-inflated intellect to abuse me..
Is he at the forefront of the Atheist movement or just unfunny he immediately started given it to me tight about being a Christian??
Confused of the Valley!!
U20 Celtic v Dundee Utd. Thu 13th Sep 7.00p KO. FREE ENTRY.
Starting XI …Thomson; Fisher, Fraser, Irvine, Chalmers; Kidd, Lindsay, McGregor; Slane, Atajic, P. Twardzik
subs…Daniels, Herron, Johnstone, Kirwan, Eadie, McNally
MTH
wonkyradar has now melded with the Yorkshire vulture mind!
Any moment now, this will cross the event horizon of Chunky’s sleekit mind :
“Hear all, see all, say nowt, tak’ all, keep all, gie nowt, and if tha ever does owt for nowt do it for
thysen.”
What are all these deranged 2012 fc fans worried about ,nothing will happen to their club now ,2012 fc have done nothing to be kicked for .
There is however an old football club that has ceased to be a football club that has been deemed to have not behaved according to the rules .If found guilty the history of that old football club may have to be re written to show that titles that were given ,were actually won through CHEATING .
Now I am a football fan and I cannot see why any football fan would want to acknowledge or demand to keep any title/cup proved to be won by CHEATING .
When are we going to hear from a 2012 fc fan that has enough DIGNITY to stand up and distance themselves from any CHEATED title .I have yet to hear a single one
Dignity my erse
hail hail
istanbulcelt
18:42 on
13 September, 2012
I have read some of that Kuznetsov characters tripe over at the asylum either wise known as RangersMedia- he thinks he is some sort of intellectual type orc.
They are the really despicable ones- at least the thick ones are just mired in ignorance.
john antony
email me at username@aol.co.uk
I’ll say one thing for Leggo, he agrees with us- he knows Green is a snake oil salesman out to make a fast buck but unfortunately he is not in tune with ra peepul and is keeping his views quiet, easier to point his pea shooter at easier targets, Lawwell, Regan etc.
Good bhoy on Snyde there,telling it as it is re EBTs.
The elite pseudo intellectual chattering class deem funny anything they are told is funny from the idiot wind of their idols, such as Fry, a puffed up poor excuse for a luvvie, enamoured by his own ‘wit’. There is zero that is funny about maltreatment of children. Zero. Some people think amorality can be ‘fashionable’. Not on. With freedom of speech comes accountability and responsibility. Say what you like, but be prepared to justify it. I’m no fan of the current Pope, but I wouldn’t disgrace myself by linking him to child abuse. That is plain lowlife thinking. Of course, Fry and his followers are above such gutter thinking….obviously not.
You can take that and stick it in his Twitter.
HH. starry plough!
goldstar10
19:20 on
13 September, 2012
I’ll say one thing for Leggo, he agrees with us- he knows Green is a snake oil salesman…
In orc company Leggo is a clear minded genius with a razor sharp intellect!
goldstar10- I think when Green does a runner,it might be too much for some of thems mate.I can’t wait for that day.
greendaycsc.
starry plough
19:09 on 13 September, 2012
Fry is pretty consistent in his anti-religion stance on the likes of QI. Also a bit of a hypocrite in my opinion as he hosts an annual Christmas special of the show!
He also has a couple of million followers on twitter, which is probably why you got so much attention!
BMCUW
Hi mate got in a similar fankle with a hotmail account a while back.
Was at the despondent stage as well – process didn’t seem to follow logic, had just about given up…etc
Don’t remember the outs’n’ins except that I persevered, um came back to it the next day maybe etc. And all of a sudden I was back in the account….
Keep trying!
miki67
I’m gobsmacked by the level of abuse I’m taking!!
Lots of really anti Christian and anti Catholic stuff of which I am neither!
I called him a dreadful little man and lonely nights must be his not exactly abusive and his defenders want to string me up!
Oh dear seems I have upset the chitterati!
Thanks for the info Miki67
Hail Hail
Is Leggo legless yet?
P*sh-stained suit in full view.
HH!!
Celtic Football Club @celticfc
25. GOAL FOR CELTIC! Atajic finally finds the net! 1-0
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Looking forward to seeing Atajic, seems a real prospect.
wonkyradar 19:12 on 13 September, 2012
istanbulcelt18:42 on 13 September, 2012
It’s an all too common mistake – the assumption that if someone places an article on the internet they must have a certain level of intelligence.
But more often than not these people are simply as thick as sh1t, and there for our amusement.
Can someone tell me if Celtic have a Champions League group game at Celtic park next week and if so point me in the direction of a website where it’s possible to discuss same
Starry
I think he is one of the very earliest high-profile adopters of twitter and I would guess he has followers in the 100s of 1,000s.
mickbhoy
im talking to oldtim on the phone re football
goldstar10 19:20 on 13 September, 2012
“I’ll say one thing for Leggo, he agrees with us- he knows Green is a snake oil salesman out to make a fast buck but unfortunately he is not in tune with ra peepul and is keeping his views quiet, easier to point his pea shooter at easier targets, Lawwell, Regan etc.”
Legless has started to soften his stance on Green of late. Having been bowel-deep with Murray and Whyte, looks like he is eyeing another spell in a dark passage.
He’s Probably waiting on Jabba shifting up a bit to make some room.
The Prince of Goalkeepers
Don’t know much about him to be honest and by the sounds of his Follow Followers I don’t want to!
There’s a level of cynicism that exists in Britain that I’m just not used to anymore having been away so long, in fact it was part of the reason I left London….
Hx2
mickbhoy1888
Why don’t you start the discussion then instead of bumping your gums :>)
TET
He was also talking about you too