thplinth Posted November 4, 2015 Share Posted November 4, 2015 (edited) Are you sure this news is correct? It's just that BBC Radio Scotland has just had its sports news on and focused on Hibs v Utd with not a mention of the tax case finding. Boom Delivering the opinion of the court, Lord Drummond Young said: "That accords with common sense. "If the law were otherwise, an employee could readily avoid tax by redirecting income to members of his family to meet outgoings that he would normally pay: for example to a trust for his wife... or to trustees to pay for his children's education or the outgoings on the family home. "The funds are ultimately derived as consideration for the employee's services, and on that basis they are properly to be considered emoluments or earnings. "We are of opinion that the sums received by the trustee of the Principal Trust, and in due course by the trustees of the sub-trusts, amounted to a mere redirection of income and thus constituted emoluments or earnings of the employees in question." Finally some common sense. Who on here Rangers fan or otherwise would argue that this EBT bollocks was not an utter piss take scheme as operated by RFC 1899? I don't think anyone would. You will lose if you appeal. This ruling was badly overdue. Edited November 4, 2015 by thplinth Quote Link to comment Share on other sites More sharing options...
TartanJon Posted November 4, 2015 Share Posted November 4, 2015 Love to see HMRC chase the individuals for back tax Quote Link to comment Share on other sites More sharing options...
TartanJon Posted November 4, 2015 Share Posted November 4, 2015 Apparently none of Murrays four companies opposed today's verdict ,only BDO on behalf of Oldco Rangers did. Quote Link to comment Share on other sites More sharing options...
Squirrelhumper Posted November 4, 2015 Share Posted November 4, 2015 Dead yet? Build those Gallows high..... Quote Link to comment Share on other sites More sharing options...
bruce778 Posted November 4, 2015 Share Posted November 4, 2015 Apparently none of Murrays four companies opposed today's verdict ,only BDO on behalf of Oldco Rangers did.That's because the companies are in liquidation and presumably there is no benefit to them in opposing the case or incurring the costs of doing so (particularly when the liquidators were doing so anyway). Quote Link to comment Share on other sites More sharing options...
sbcmfc Posted November 4, 2015 Share Posted November 4, 2015 http://www.bbc.co.uk/news/uk-scotland-glasgow-west-34118126 Did anybody ever look into the bung to Sounness? Quote Link to comment Share on other sites More sharing options...
ShedTA Posted November 4, 2015 Share Posted November 4, 2015 Common sense appears finally to have prevailed. Quote Link to comment Share on other sites More sharing options...
TartanJon Posted November 4, 2015 Share Posted November 4, 2015 Did anybody ever look into the bung to Sounness? They were all in on it mate.It's one big proddy conspiracy. Quote Link to comment Share on other sites More sharing options...
DoonTheSlope Posted November 4, 2015 Share Posted November 4, 2015 Without going through umpteen pages and all the deep business language etc. what is all this latest stuff about Are they ####ed? Yes or no? Thanks muchly in advance Quote Link to comment Share on other sites More sharing options...
TartanJon Posted November 4, 2015 Share Posted November 4, 2015 Did anybody ever look into the bung to Sounness? They were all in on it mate.It's one big proddy conspiracy. Quote Link to comment Share on other sites More sharing options...
wembley67lisbon Posted November 4, 2015 Share Posted November 4, 2015 I'm fuming il need to buy an extra couple of sets of hands as I won't be able to do "here we go 10 in a row" as its already done and dusted. Here we go 20 in a row. Quote Link to comment Share on other sites More sharing options...
ShedTA Posted November 4, 2015 Share Posted November 4, 2015 so will all the rangers fans who claimed earlier court rulings exonerated the club from any blame or wrong doing now accept they cheated for years? Quote Link to comment Share on other sites More sharing options...
Glasgowmancity Posted November 4, 2015 Share Posted November 4, 2015 I'm fuming il need to buy an extra couple of sets of hands as I won't be able to do "here we go 10 in a row" as its already done and dusted. Here we go 20 in a row. A sellik supporting fermer, I don't think a few extra digits will be a problem Quote Link to comment Share on other sites More sharing options...
bruce778 Posted November 4, 2015 Share Posted November 4, 2015 Having skim read the judgment (on my phone) I would be surprised if old co didn't appeal but the liquidators might not have the appetite for it. Hmrc got up on a ground that they didn't raise before the first tier and upper tier tribunals. That is why the court has reserved it's decision on costs. Considering a new ground is itself appealable. It seems like the judges have been a lot more practical than the tribunals but I am not convinced that they haven't gilded the lily a little with their interpretation of the applicable legislation. Quote Link to comment Share on other sites More sharing options...
wembley67lisbon Posted November 4, 2015 Share Posted November 4, 2015 (edited) A sellik supporting fermer, I don't think a few extra digits will be a problem Just seen this new dittyDavid Murrays Magic he wears a magic hat He could've put in place a legitimate system for employee payments, But he said no that Edited November 4, 2015 by wembley67lisbon Quote Link to comment Share on other sites More sharing options...
TartanJon Posted November 4, 2015 Share Posted November 4, 2015 If you're going to announce a £7.5m loss then I suppose today was the day to do it Quote Link to comment Share on other sites More sharing options...
Glasgowmancity Posted November 4, 2015 Share Posted November 4, 2015 Just seen this new ditty David Murrays Magic he wears a magic hat He could've put in place a legitimate system for employee payments, But he said no that :lol: Even for you that's bad Quote Link to comment Share on other sites More sharing options...
TartanJon Posted November 4, 2015 Share Posted November 4, 2015 Anybody else getting a "no tanks in Baghdad " feeling in this thread ? Quote Link to comment Share on other sites More sharing options...
TartanJon Posted November 4, 2015 Share Posted November 4, 2015 Anybody else getting a "no tanks in Baghdad " feeling in this thread ? Quote Link to comment Share on other sites More sharing options...
Langtonian Posted November 4, 2015 Share Posted November 4, 2015 £2.5 million needed to keep the lights burning,possible £400 k fine lurking also will the SFA be asking for the return of the trophies falsely held in the newco/ old co/ new company/ old company boardroom? Quote Link to comment Share on other sites More sharing options...
Fred_Zeppelin Posted November 4, 2015 Share Posted November 4, 2015 Quote Link to comment Share on other sites More sharing options...
Toepoke Posted November 4, 2015 Share Posted November 4, 2015 will the SFA be asking for the return of the trophies falsely held in the newco/ old co/ new company/ old company boardroom? I don't believe they're holding any SFA trophies at the moment. A few flags on the wall could be on shaky pegs though... Quote Link to comment Share on other sites More sharing options...
Fairbairn Posted November 4, 2015 Share Posted November 4, 2015 so will all the rangers fans who claimed earlier court rulings exonerated the club from any blame or wrong doing now accept they cheated for years? What do you think?! Although, given you don't care you probably don't have any feelings one way or the other..... Quote Link to comment Share on other sites More sharing options...
thplinth Posted November 4, 2015 Share Posted November 4, 2015 (edited) Looking at the accounts as at end of June they only had 1m in cash left. That would not have covered two months of losses so I would think someone has been lending them more money since then. But I don't recall any announcements of fresh loans. edit: in the 12 months to end of june RFC was burning over a million quid in cash every month on average. When the accounts closed they had 1m left and no way to do another share issue. It is now 4 month later. They should have run out cash 3 months ago... Edited November 4, 2015 by thplinth Quote Link to comment Share on other sites More sharing options...
RenfrewBlue Posted November 4, 2015 Share Posted November 4, 2015 Looking at the accounts as at end of June they only had 1m in cash left. That would not have covered two months of losses so I would think someone has been lending them more money since then. But I don't recall any announcements of fresh loans. edit: in the 12 months to end of june RFC was burning over a million quid in cash every month on average. When the accounts closed they had 1m left and no way to do another share issue. It is now 4 month later. They should have run out cash 3 months ago... But they patently haven't, so what do you think happened Sherlock? Quote Link to comment Share on other sites More sharing options...
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