Afternoon all... Posted this on the Celtic board but ment to post it on this board too, looking for some input from Gers fans to see what they actully think will happen?
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Is there any actual possibility of Rangers FC going into liquidation etc like alot of Celtic fans seem to be suggesting?
Im not too clued up on the whole HMRC situation, and iv been trying hard not to listen / read about it because i was assuming it was all propoganda (for want of a better word).
However, recently theres been more and more talk about what "will" happen and what "wont" happen. Im just wondering if there is any truth in what some people are suggesting, and that is that Rangers FC could, infact, find itself being wound up at the end of the year etc?
Not a wind up, genuinly interested and curious.
Cheers
Looking for some honest info..
posted on 12/9/11
Westendger:
One thing i'd like to point out. Rangers are arguing over HMRC attempting to retrospectively claim back taxes that at the time we did not have to pay..
Sorry im not very good at this tax stuff, can you explain how anyone (football club or not) at anytime, do not have to pay taxes? And for which reasons?
I have to pay my taxes, you im assuming have to pay yours, why club pays theirs etc etc.. so why during that time didnt rangers fc have to pay taxes?
Again, im not good at these things sorry! lol
posted on 12/9/11
*my club pays theres
posted on 12/9/11
Cheers for explaining. As I said other clubs have used this far more than us. I know that Arsenal did and they settled early to avoid court, but other's in the EPL have done too.
The only way I can see us being liquidated is if Craig Whyte chooses to do so. If we get put into administration HMRC would only get a percentage of any debt they claim (as they did with Portsmouth). The only debts we'd have to fully pay would be the football ones, i.e. wages and transfer fees.
This is a mess, however it's Whyte's mess now and we have to trust him to sort it. He has sanctioned signings and contract extensions so until the worst happens i'll give him the benefit of the doubt.
I find Bain to be a duplicitous egotist. 6 months the club was fine, now he thinks we're doomed. If we are it happened on your watch Martin. You have some cheek demanding money from the club that paid for your house and Tommy Sheridan tan, you were a failing model before Rangers.
posted on 12/9/11
Bhoy-My understanding was that the rules were changed. For example if you pay 20% tax and they then increase it to 25% you'd pay 25% from then on. You wouldn't pay the difference before though.
Davie has pointed that he believs it's an EBT and this is different. I know nothing about tax laws so cannot argue.
Good enough for you?
posted on 12/9/11
westendger -
HMRC would also fine Rangers upto and including £15million if found guilty.
You are correct about administration repayment percentages and so on, but the fine imposed by HMRC would be paid in full.
posted on 12/9/11
so rangers were infact liable to pay tax then?
and hmrc are just disputing the amount they paid? From my understanding after a few hours reading up on this, rangers paid very little tax, if any, and done the whole EBT thing with their players, with money going offshore to avoid paying tax.
therfore, from my understanding (which as we have gathered is very little lol) rangers should have paid tax, but didnt. no "loophole" involved, they just didnt pay taxes that they were due to pay?
posted on 12/9/11
Bhoy_Wonda -
It looks like Rangers FC have tried to use what they though was a loophole and have been caught with their hand in the cookie jar.
I don't know if it's true though, thats what is being reported.
If the reports are true Rangers are in a lot of trouble. HMRC will not be like another creditor. They will take what is owed, aswell as whatever fine is imposed.
The resulting administration (if there is a club left) would mean that any debtors would only receive a fraction of what is owed.
This is all hearsay though, nobody on here knows the facts.
posted on 12/9/11
i guess time will tell then! lol
posted on 12/9/11
If you are looking for some honest informed information on the reality behind Rangers tax situation then I would suggest you are in the wrong place.
posted on 12/9/11
comment by CoachTaylor (U5534)
posted 1 hour, 44 minutes ago
If you are looking for some honest informed information on the reality behind Rangers tax situation then I would suggest you are in the wrong place.
---oo---
Would this be a better place?
http://rangerstaxcase.com/