phart Posted March 31, 2016 Share Posted March 31, 2016 (edited) 5 minutes ago, RenfrewBlue said: Where are you seeing this? I'd be surprised as the government seem utterly inept when it comes to collecting tax. The Budget had provisions for reclaiming billions in lost tax. EDIT: Specifically for EBT's. Edited March 31, 2016 by phart Quote Link to comment Share on other sites More sharing options...
RenfrewBlue Posted March 31, 2016 Share Posted March 31, 2016 4 minutes ago, phart said: The Budget had provisions for reclaiming billions in lost tax. Fair enough. It'll be interesting to see how that pans out, especially with the folk who benefitted from ones like Arsenal's where deals have been cut. Must be quite a few squeaky bums around just now then. Quote Link to comment Share on other sites More sharing options...
phart Posted March 31, 2016 Share Posted March 31, 2016 4 minutes ago, RenfrewBlue said: Fair enough. It'll be interesting to see how that pans out, especially with the folk who benefitted from ones like Arsenal's where deals have been cut. Must be quite a few squeaky bums around just now then. According to someone a paper consulted, HMRC with this new legislation have stopped making deals they want full payments now. Ranger's could win the final tax tribunal and players still liable. Loads of action in courts from players ,agents and employers expected. Quote Link to comment Share on other sites More sharing options...
ShedTA Posted March 31, 2016 Share Posted March 31, 2016 9 minutes ago, RenfrewBlue said: Where are you seeing this? I'd be surprised as the government seem utterly inept when it comes to collecting tax. Yeh - all over twitter. In the record this morning apparently but I don't read that rag. Quote Link to comment Share on other sites More sharing options...
ShedTA Posted March 31, 2016 Share Posted March 31, 2016 12 minutes ago, phart said: http://www.bbc.co.uk/news/uk-scotland-glasgow-west-34118126 Heavy stuff, especially for footballers who didn't action it themselves just found out against bad business practices. It is harsh particularly as it was sold to the players as just a part of their remuneration with the side letters, and amazingly tax free. Well, apparently not. Someone tweeted that super Barry will face a tax bill of £1.3m. Wow. Quote Link to comment Share on other sites More sharing options...
phart Posted March 31, 2016 Share Posted March 31, 2016 20 minutes ago, ShedTA said: It is harsh particularly as it was sold to the players as just a part of their remuneration with the side letters, and amazingly tax free. Well, apparently not. Someone tweeted that super Barry will face a tax bill of £1.3m. Wow. Yeah it's not like Barry went and did a Gary Barlow, willfully going out his way, just seems to have been part of the culture of the club with regards payments. Quote Link to comment Share on other sites More sharing options...
Stu101 Posted March 31, 2016 Share Posted March 31, 2016 51 minutes ago, ShedTA said: And repayment of all tax on ebt's to be demanded in 3 years time. Some fairly high profile bankruptcies on the way. Super Barry might have an mbe but unfortunately he also had a hefty ebt. Shame for the footballers who didn't understand what rangers were up to, or karma for the tax cheating f@ckers ? May have claims against their advisors/agents depending on the advice given at the time. But probably not. Quote Link to comment Share on other sites More sharing options...
Stu101 Posted March 31, 2016 Share Posted March 31, 2016 41 minutes ago, phart said: According to someone a paper consulted, HMRC with this new legislation have stopped making deals they want full payments now. Ranger's could win the final tax tribunal and players still liable. Loads of action in courts from players ,agents and employers expected. Interestingly I now think we will lose the tax tribunal- just have a feeling based on reading the Supreme Court judgements in the DB/AG cases earlier this month. Obviously a different set of circumstance, but relevant comments there on treatments of tax. Anyone remember the figures from (i think) HMRC about how many clubs operated these schemes? 30-40 sticks in my mind, pretty much all down south. Pretty good pay day for HMRC anyway- especially if you consider their use outside football. Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted March 31, 2016 Share Posted March 31, 2016 2 hours ago, RenfrewBlue said: Fair enough. It'll be interesting to see how that pans out, especially with the folk who benefitted from ones like Arsenal's where deals have been cut. Must be quite a few squeaky bums around just now then. This isn't a surprise given what's been happening in England with footballers, their reluctance to pay their fair share of tax and their rank stupidity in choice of both advisors and tax avoidance vehicles. http://www.thesundaytimes.co.uk/sto/news/uk_news/National/article1630337.ece?shareToken=f3758d82d4fb9b1d193de03032254c90 Quote Link to comment Share on other sites More sharing options...
Stu101 Posted March 31, 2016 Share Posted March 31, 2016 10 minutes ago, Larky Masher said: This isn't a surprise given what's been happening in England with footballers, their reluctance to pay their fair share of tax and their rank stupidity in choice of both advisors and tax avoidance vehicles. http://www.thesundaytimes.co.uk/sto/news/uk_news/National/article1630337.ece?shareToken=f3758d82d4fb9b1d193de03032254c90 Not just England http://citywire.co.uk/wealth-manager/news/former-celtic-boss-lennon-faces-big-bill-over-tax-scheme/a795765 "Lennon..... alongside Aberdeen chairman Stewart Milne..... Gary Teale and former Scotland captain Gary McAllister." "Stephen Glass and Eion Jess, ex-Rangers striker Billy Dodds and former Scotland internationals Colin Hendry and Dominic Matteo also invested in the scheme". Quote Link to comment Share on other sites More sharing options...
Stu101 Posted March 31, 2016 Share Posted March 31, 2016 17 minutes ago, Stu101 said: 17 minutes ago, Stu101 said: Not just England http://citywire.co.uk/wealth-manager/news/former-celtic-boss-lennon-faces-big-bill-over-tax-scheme/a795765 "Lennon..... alongside Aberdeen chairman Stewart Milne..... Gary Teale and former Scotland captain Gary McAllister." "Stephen Glass and Eion Jess, ex-Rangers striker Billy Dodds and former Scotland internationals Colin Hendry and Dominic Matteo also invested in the scheme". Not just England http://citywire.co.uk/wealth-manager/news/former-celtic-boss-lennon-faces-big-bill-over-tax-scheme/a795765 "Lennon..... alongside Aberdeen chairman Stewart Milne..... Gary Teale and former Scotland captain Gary McAllister." "Stephen Glass and Eion Jess, ex-Rangers striker Billy Dodds and former Scotland internationals Colin Hendry and Dominic Matteo also invested in the scheme". And some of the members of Inside Track 3 LLP (deemed as a tax avoidance scheme) will be familiar to watchers of Scottish Football - http://www.cdrex.com/inside-track-3-llp/board-2388241.html Quote Link to comment Share on other sites More sharing options...
theweestevie Posted April 1, 2016 Share Posted April 1, 2016 13 hours ago, Parklife said: RFC development team humped at home by the mighty AFC today. The end is nigh. Not really surprised by that. Our development team is filled with very young players as we have 8 or 9 fringe players out on loan. I'd say that it was more worrying for you guys if your brightest prospects for the future can only beat a team of 15 year olds 1-0 Quote Link to comment Share on other sites More sharing options...
theweestevie Posted April 1, 2016 Share Posted April 1, 2016 12 hours ago, phart said: The Budget had provisions for reclaiming billions in lost tax. EDIT: Specifically for EBT's. And rightly so, but in my opinion they should fix the current problems first. The should make sure people like Google, Apple, Starbucks etc. pay the tax that they are supposed to now and going forward then go after historical cases. If they keep going with the way it is they will always be chasing people up. Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted April 1, 2016 Share Posted April 1, 2016 4 hours ago, theweestevie said: And rightly so, but in my opinion they should fix the current problems first. The should make sure people like Google, Apple, Starbucks etc. pay the tax that they are supposed to now and going forward then go after historical cases. If they keep going with the way it is they will always be chasing people up. You're right but I think the EBT cases are easier wins and should have a deterrent effect (at least until the next loophole is found). Quote Link to comment Share on other sites More sharing options...
Mitre Posted April 1, 2016 Share Posted April 1, 2016 20 hours ago, Parklife said: RFC development team humped at home by the mighty AFC today. The end is nigh. Shame it wasn't at Ibrox eh Quote Link to comment Share on other sites More sharing options...
ShedTA Posted April 1, 2016 Share Posted April 1, 2016 2 hours ago, Larky Masher said: You're right but I think the EBT cases are easier wins and should have a deterrent effect (at least until the next loophole is found). Larky hi, here's a question for you. Apparently the ebt side letters had a clause which stated the club would indemnify the players against any future tax liability. So what's the score? Same club? Liable for £millions? Quote Link to comment Share on other sites More sharing options...
Stu101 Posted April 1, 2016 Share Posted April 1, 2016 24 minutes ago, ShedTA said: Larky hi, here's a question for you. Apparently the ebt side letters had a clause which stated the club would indemnify the players against any future tax liability. So what's the score? Same club? Liable for £millions? To jump in - would be pretty easy to check - would need to be disclosed as a potential liability by BDO. No chance the liability would have been assigned across. Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted April 1, 2016 Share Posted April 1, 2016 1 hour ago, ShedTA said: Larky hi, here's a question for you. Apparently the ebt side letters had a clause which stated the club would indemnify the players against any future tax liability. So what's the score? Same club? Liable for £millions? Im sure that wasn't the answer he was hoping for. Quote Link to comment Share on other sites More sharing options...
ShedTA Posted April 1, 2016 Share Posted April 1, 2016 1 hour ago, Larky Masher said: Im sure that wasn't the answer he was hoping for. Not much of an answer tbh. Quote Link to comment Share on other sites More sharing options...
RenfrewBlue Posted April 1, 2016 Share Posted April 1, 2016 1 hour ago, ShedTA said: Not much of an answer tbh. It's probably as good as anyone on here can give you. You'd need to be privy to documents not in the public domain to give anymore actual facts. I'm sure this lack of facts will therefore allow you to keep your fantasies going on the future disasters you are hoping to see. ? Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted April 1, 2016 Share Posted April 1, 2016 31 minutes ago, RenfrewBlue said: It's probably as good as anyone on here can give you. You'd need to be privy to documents not in the public domain to give anymore actual facts. I'm sure this lack of facts will therefore allow you to keep your fantasies going on the future disasters you are hoping to see. ? He does like his Rangers' porn. However I'd suggest that any liability would rest with the oldco though even then I don't remember this being listed as a liability anywhere. Quote Link to comment Share on other sites More sharing options...
Stu101 Posted April 1, 2016 Share Posted April 1, 2016 49 minutes ago, Larky Masher said: He does like his Rangers' porn. However I'd suggest that any liability would rest with the oldco though even then I don't remember this being listed as a liability anywhere. Correct- it would be a claim against oldco- unless for some odd reason the liabilities were taken on by newco (Which would be pretty much insane, and defeat the main purpose of liquidation). No idea where the players would rank in terms of creditors though, if these clauses exist. Quote Link to comment Share on other sites More sharing options...
RenfrewBlue Posted April 1, 2016 Share Posted April 1, 2016 1 hour ago, Larky Masher said: He does like his Rangers' porn. However I'd suggest that any liability would rest with the oldco though even then I don't remember this being listed as a liability anywhere. It wasn't listed that I remember anyway. It would have been quite a prominent thing too I'd have thought. Quote Link to comment Share on other sites More sharing options...
ShedTA Posted April 1, 2016 Share Posted April 1, 2016 4 hours ago, Larky Masher said: Not sure what the f@ck has happened to the quoting function but I can't reply without it quoting you larky. Anyway, rangers porn? Is that like an obsessed person? Maybe a bheast? One of tbe haters. A taig, Or just a Timmy.it seems you lot always have a derogatory term for anyone who talks about your club. Childish stuff. The point I was making was slightly tongue in cheek and obtusely avoided by you all. The side letters state that "the club" will indemnify the players. So my question was will it? Quote Link to comment Share on other sites More sharing options...
Stu101 Posted April 1, 2016 Share Posted April 1, 2016 38 minutes ago, ShedTA said: No. clear enough? Quote Link to comment Share on other sites More sharing options...
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