Sevco Thread

[stand_free]

Rangers Tax Result Para 161 p38:

 

Side-letters, of course, had not been registered with the football authorities, the SFA and SPL. The spirit of their rules was that the whole contract terms should be registered. Suspiciously, no evidence was led as to who decided that the benefits in terms of the side-letters should not be registered. Non-registration of side-letters was incompatible with both authorities

[ridaligo]

Rangers Tax Result Para 161 p38:

 

Side-letters, of course, had not been registered with the football authorities, the SFA and SPL. The spirit of their rules was that the whole contract terms should be registered. Suspiciously, no evidence was led as to who decided that the benefits in terms of the side-letters should not be registered. Non-registration of side-letters was incompatible with both authorities

[stand_free]

EBT Beneficiaries

 

According to this Gavin Rae received

[tommo1903]

Yes .. Rangers FC's ENTIRE use of the EBT scheme has been deemed to be ILLEGAL, Only just announced ..

 

[Mikeyboy1903]

 

 

Yeah I hold my hand up to that one ...

[Tommy]

Yeah I hold my hand up to that one ...

 

 

I'm sure if you had 2 you'd have held both of them up.

[tommo1903]

I'll never trust you again.

 

Sack Mikeyboy1903

[barassie_afc]

Not an expert on this by any means, but doubt it will be as clear cut as a win and zero liability, however look for a tsunami of utter drivel from the usual suspects and flute blowers starting with radio scotland tonight....

[Old Wing Stand]

HMRC considering an appeal

[muttonhumper]

my understanding at the moment is that they didn't cheat with the use of EBT's but they might get fucked for the dual contracts still.

 

If it is the case that they did not cheat then it makes it even fucking funnier that they were flushed away

They absolutely did. Unless you mean in a tax sense rather than football sense.

Though they still did multiple tax screwing outwith.

Like has been known all along, there are legal EBTs, and they were in the form of loans.

 

The findings actually confirms dead Rangers fucked in terms of cheating the rules of the competitions they were playing in by these loans being contractual.

 

Contractual and undisclosed to the SPL. Hidden payments.

 

This confirms their cheating and that every player being paid this way and fielded in games were indeed ineligible according to the rules of the governing body.

[robbojunior]

They absolutely did. Unless you mean in a tax sense rather than football sense.

Though they still did multiple tax screwing outwith.

Like has been known all along, there are legal EBTs, and they were in the form of loans.

 

The findings actually confirms dead Rangers fucked in terms of cheating the rules of the competitions they were playing in by these loans being contractual.

 

Contractual and undisclosed to the SPL. Hidden payments.

 

This confirms their cheating and that every player being paid this way and fielded in games were indeed ineligible according to the rules of the governing body.

 

Hi Muttonhumper, Neil Doncaster here. I take on board what you are saying but its all water under the bridge now. Lets all enjoy the new SPL2.

[muttonhumper]

Hi Muttonhumper, Neil Doncaster here. I take on board what you are saying but its all water under the bridge now. Lets all enjoy the new SPL2.

 

I see they are saying that deadhunFC were due tax on some of the payments and they will still (well, would have...had they still existed) face a bill.

Though how much they mean by "substantially" I don't ken.

 

It found most of the trusts were "valid" and loans are "recoverable" by the trust, although it conceded some advances to players were taxable and any bill is likely to be "substantially reduced" from the initial

[Poodler]

wel thats my fun for the day reading that forum.. I'll leav you with this classic

 

"Fantastic being a Bear not every football supporter is as lucky as us, some have to support teams with no honour or history, we have so much to be thankfull for. "

 

 

http://forum.rangersmedia.co.uk/index.php?showtopic=241856

 

 

:hysterical: :lolrangers:

 

 

Nearly every post there mentions Celtic. And they say Celtic are obsessed by them?

[dervish]

Love this. Imagine Oldco lives does that mean Newco still has the "history"? This is the best thing that could have happened by far.

 

http://forum.rangersmedia.co.uk/index.php?showtopic=242290

 

[Karl Fletcher]

Went into liquidation for nothing

 

Division 3

[ninja-lewis]

EBT Beneficiaries

 

According to this Gavin Rae received

[super_al]

I am confussed, what on earth does this all mean?

[V for Vendetta]

MIH and there lackeys in the press will hail this as a victory and allow no dissent or discussion of otherwise.

 

It seems the main finding of the FTTT:

- Many but not all of the EBT payments have been deemed to be within the rules. ie they successfully made use of the loopholes at the time and cannot be pursued for the Tax.

- Some of the payments failed to do that and will be subject to tax (but it seems these are in the minority)

 

However when they glibly tell us all they were victims of a campaign and did nothing wrong remember this:

- They avoided tax to gain an unfair advantage in sporting terms.

- They are shown to have wilfully misled the SPL and SFA

- They are shown to have deliberately obstructed the investigation

- They are shown to have tried to destroy evidence (IMO this may be one of the reasons so many of the payments are deemed not to be due tax)

- They still cheated SPL competitors wilfully for 10 years

- Rangers still got in to deep and had to be liquidated - a direct result of their own financial mismanagement and arrogance

- Sevco is not Rangers, Rangers history remains with the club beibg liquidated.

- Sevco play in Div 3

- HMRC still have the right to appeal

- BDO still have the power to investigate all the goings on at the club over the last few years

 

Most important of all:

 

- the curtain has been draw back and we have all seen the favouratism we suspected actually extended to full blown, systemic corruption of the footballing authorities. There is no turning back for them now - the fans will never forget and hang on as they will eventually these organisations will cleansed of these individuals.

[muttondressedaslamb]

Good bit on Reporting Scotland tonight when they asked the fans about the judgement. A fat mong cunt and a junkie spoke. Their fan base summed up perfectly.

[boboisared]

Surely there will be an appeal to come?

[strachanmcgheegoal]

EBT Beneficiaries

 

According to this Gavin Rae received £376,000 through EBTs... Nae sure what that'll be in tax.

 

Very very roch but I'll give it a go.

 

HMRC knew that Gavin Rae got 376k through an EBT. HMRC argued that there should have been £150,400 (40%) paid in tax on top of this which would pretty much cover Nat Ins as well. Rangers argued that the tax liability was nil (but ironically also argued that if it had been chargeable that it would only apply to give a gross total of £376,000 or in other words £268,500 pay plus £107,500. That's right Hunbo, players agents always negotiate for gross pay and then forget to mention tax you deceitful cnnts, but that's by the by.)

 

Two things are important now from a tax point of view. What is chargeable is the tax (still at 40% for simplicity) on the difference between the interest that (say) Gavin would have paid had he got a £376,000 loan from a bank and the interest that he has actually paid which I'm taking a shot in the dark here is zero. So say 5% of £376,000 is £18,800 @ 40% is £7520. To be clear that's £7520 per year for every year he has had the loan. Secondly though, that will continue to be liable for every year that he has the loan going forward, a small point I don't need to see tomorrow's tabloids to believe they will totally ignore, and that if the loan is to continue in death (i.e. not be repaid at all) so will the annual tax charge. Hopefully this latter part might just help to 'surface' some documentation and might just explain the HMRC's odd delay in answering this repayable on death point on which the two appellant upholders seemed to jump.

 

Unless of course the trustees decide to write the loan off, but then according to the FTTT the trustees couldn't dress themselves in the morning without the impartial, untouchable and completely free of liability RFC(IL)'s say so.

[muttondressedaslamb]

Hats off once again Bebo

 

[stand_free]

Alastair Johnstone says this ruling means titles should stay where they are. He obviously forgot to read the part where the tribunal points out that football laws regarding dual contracts were broken, just that this wasn't breaking tax law

[V for Vendetta]

Surely there will be an appeal to come?

 

Hard to say. On one hand why bother appealing as Rangers are dead and HMRC can't get any money out of them anyway. On the other hand maybe they need to fight for this or risk losing future cases against similar schemes.

 

A couple of interesting things that seem to be coming out:

1. Some former employees of Rangers appear to have been receiving payments while in the employment of the SFA. You'd have to think that must be investigated? How can the SFA ignore their employees receiving payments from another company/club?? I won't mention who it was but its probably pretty obvious.

2. Some of the trusts apparently were set up for individuals before they actually became employees of Rangers. So in that case, you have to wonder at all sorts of possible implications. Why would Rangers pay money into a trust for someone who was not an employee? Were they paying people "advance signing fees"? This would be a rather extreme form of tapping up surely? Might those players have been playing for other clubs in the same competitions while receiving money from Rangers? Could the results of other matches be in doubt?

 

The only thing making me think they might get away with this is there are simply to many cans of worms to open. The corruption is so rife I'm not sure anyone has the appetite to thoroughly look into it all and get to the bottom of it.

[muttondressedaslamb]

It would be good if Tommo got his teeth into it again. But I see he is in Gaza.

I think this is all a Jewish conspiracy.

[BrianFaePerth]

Mr Pink

 

[The Boofon]

Rangers don't exist anymore so to be honest this is no skin off my nose.

 

The the rangers fan at my work was grinning like a Cheshire cat last night at tea time. I just went straight for the jugular.

 

Me:

 

"I see your old team won their tax case"

 

Him:

 

(Smile visibly draining) What do you mean my old team?

 

Me:

 

Well the BBC article I read about the news states that Charles Green formed a new club who now play in Division 3. That means his club are a NEW club which means Rangers are deid.

 

Him:

 

Fuck you.

 

 

Nothing better than taking the wind out of their sails immediately.

 

Any joy he thought he had about his old team winning the tax case taken straight away. They all know it's a new club they just cannot admit it. Long may it continue for the deluded fuckwits.

[BrianFaePerth]

Thon judgement was confusing. Was Mr Green the Mr Green who formed "The Rangers" or is that a different Mr Green

[The Boofon]

Thon judgement was confusing. Was Mr Green the Mr Green who formed "The Rangers the rangers" or is that a different Mr Green

 

FFS Brian you should know better.

 

It's like a fucking game of Cluedo.

 

Marvin Andrews can be Reverend Green.

 

My guess is it was the cunt with nae legs in the Library with a spanner (Durrant)

[BrianFaePerth]

Poor Charlie, they must have run out of colours by the time they got to him

 

 

"Mr Fat Bastard"