when he paid off the debt to Lloyds using future potential income?
If he bought rangers for £1 from Murray and then became the legal owner of the club, then used the ticketus money to pay off the debt, did he do anything different from people who take on a loan or a mortgage based on future potential earnings, something we all do. All he did was consolodate a loan and as such this is something which is done thousands of times daily. Johnston claims that he used assets and had promised not to do so, but is future earning an asset. Certainly, the stadium, Murray Park and the players are assets.............but future potential earnings????
We do not know what exactly he showed David Murray to purchase the club and we may never find out with claim and counter claim.
Did Whyte do anything so wrong?
posted on 23/2/12
Avenger,
Apparently witholding the Tax and NI is not illegal, even though it is PAYE. I am not an expert on this, but have read and heard that this is the case. Amazes me that someone or an organisation can do this, but some people in authority are claiming that it is not illegal, all that happens is that penalties and fines are accrued for late payment.
It will all come out in the wash. Murray I suspect just wanted rid of the club and furthermore was told by Lloyds to sell, sell, sell.
posted on 23/2/12
I'm sure you can withhold tax and NI for a period of time but not very long.
posted on 23/2/12
Allegedly, Whyte has broken a court freezing order by using the money ring fenced for the wee tax bill to pay the VAT on the Ticketus money.
SO not only did he do a dirty deal with items he did not won, and took the proceeds out the club, he then used court ordered ring fenced cash to pay the VAT on it.
This guy is unbelievable.
posted on 23/2/12
Harvey,
It may well be that the tax is only payable at the end of the tax year, but I owuld think with holding PAYE tax and NI would attract fines and penalties. Problem for HMRC is that rfc are now in admin and that may well affect the potential pay back if any.
posted on 23/2/12
It must be very embarrassing for Rangers fans, everwhere they go people are laughing at them.
posted on 23/2/12
Not embarrassed by this at all, thanks.
Will be glad to get the shyster Whyte locked up for a long time, and any assets he has seized pronto / debt piled onto him.
posted on 23/2/12
Whyte certainly wouldn't worry about that since he has obviously has no intention of paying any of those fines so you could be right.
posted on 23/2/12
Not even a wee touch of embarrassment from the supporters of the establishment club.
posted on 23/2/12
Blacksod - nope. I could not have influenced anything that happened, as I do not own the majority of the shares in Rangers, nor am I on the Board of Directors of the club.
I am very unhappy with what is happening and my feelings about Mr Whyte probably would not get passed the auto censors on here, but embarrassment - no.
posted on 23/2/12
some guy just stole your thunder on ssb