Comment deleted by Site Moderator
It is ok to 'avoid' tax, but the EBT scheme was illegal. According to HMRC anyway. Hence the wait on the tribunal.
---------
Actually it wasn't illegal when we used it. It's only now that HMRC have decided its illegal and now they want to retrospectively punish us.
As Sir David Murray and a gaggle of his former directors will tell you, there is nothing illegal in EBTs, it’s the undeclared second contracts the football authorities have a problem with. Juninho’s EBT was not subject to any contract or side letter whatsoever. Moreover, our then chairman, Brian Quinn, regarded EBTs with suspicion and instructed the club to declare Juninho’s to the Revenue. Celtic even paid tax on money paid to the EBT.
+++
Zombies Inc. are dead men stalking
Comment deleted by Site Moderator
comment by Partick Bateman (U14112)
posted 11 hours, 26 minutes ago
It is ok to 'avoid' tax, but the EBT scheme was illegal. According to HMRC anyway. Hence the wait on the tribunal.
---------
Actually it wasn't illegal when we used it. It's only now that HMRC have decided its illegal and now they want to retrospectively punish us.
---oo---
More revisionist nonsense.
There is nothing retrospective about it. Rangers were administering their EBTs wrong and got found out when Ibrox got raided as part of an investigation into dealings at an English club. Some, let's call it, 'interesting' paperwork was uncovered. As a result, HMRC raised an assessment against Rangers who appealed to the FTTT. We are currently awaiting the result of that appeal. I wouldn't hold your breath though.
I forgot to add, 'allegedly'.
"In December 2010, as a result of legislation changes introduced by HMRC, EBTs were rendered tax inefficient. Thereafter the Club made no further contributions to EBTs"
Murrays statement today...
Ask yourself why he used them in the first place and why they were kept secretive until Rangers were raided because of the Boumsong swindle
If he says there was no cheating, then why all the worry all of a sudden?
Why, in Murray's statement, is he calling for no further actions against the club...could he be hiding something?
Bateman,
Nobody is arguing that EBTs per se were illegal during the period in question. It's the specific manner in which they were administered by Rangers that has been considered illegal by HMRC. i.e. they were used to make contractual payments rather than to advance discretionery loans, and that Rangers had final say over the payment of amounts rather than the EBT trustees.
Comment deleted by Site Moderator
comment by curly - Sporting Integrity my erse! Cash cow n... (U1103)
posted 11 hours, 3 minutes ago
Prove it
---oo---
Prove it?
Have you been living on Mars until yesterday?
Comment deleted by Site Moderator
Nobody is arguing that EBTs per se were illegal during the period in question. It's the specific manner in which they were administered by Rangers that has been considered illegal by HMRC
+++
Read, think...reply
What this club did was morally wrong, EBTs aRe now illegal, why? As an ordinary working man I had to pay my tax and Ni. It was deducted by my employer. To say these where loans and then say they do not have to be repaid is stupid if you get a loan you have to repay it, it was a tax scam. A 2 1 verdict, you only have to read the text of the case then ask yourself how could two of the three people on the case come to their conclusion, I think one should look at their background then ask yourself the question
you only have to read the text of the case then ask yourself how could two of the three people on the case come to their conclusion, I think one should look at their background then ask yourself the question
---
Im sure the lawyers wish they had ,looked at the text of the case/
why on earth did they not think to do that.
Lucky for Rangers they never phweee
What this club did was morally wrong, EBTs aRe now illegal, why? As an ordinary working man I had to pay my tax and Ni.
===
Great point
I will cancel my ISA first thing in the morning in support.
it's funny reading old threads eh?
Comment deleted by Site Moderator
Not seen Tim o'Tay for a while
Comment deleted by Site Moderator
Not seen nightmail on in a while either
maybe one of them is the Rangers Tax Case buffoon?
For whatever reason they're not on, I'm sure it's not because of a tax case appeal
Probably feel pity on you.
Sign in if you want to comment
Do EBTS equate to an unfair advantage!
Page 3 of 5
posted on 6/8/12
Comment deleted by Site Moderator
posted on 6/8/12
It is ok to 'avoid' tax, but the EBT scheme was illegal. According to HMRC anyway. Hence the wait on the tribunal.
---------
Actually it wasn't illegal when we used it. It's only now that HMRC have decided its illegal and now they want to retrospectively punish us.
posted on 6/8/12
As Sir David Murray and a gaggle of his former directors will tell you, there is nothing illegal in EBTs, it’s the undeclared second contracts the football authorities have a problem with. Juninho’s EBT was not subject to any contract or side letter whatsoever. Moreover, our then chairman, Brian Quinn, regarded EBTs with suspicion and instructed the club to declare Juninho’s to the Revenue. Celtic even paid tax on money paid to the EBT.
+++
Zombies Inc. are dead men stalking
posted on 6/8/12
Comment deleted by Site Moderator
posted on 6/8/12
comment by Partick Bateman (U14112)
posted 11 hours, 26 minutes ago
It is ok to 'avoid' tax, but the EBT scheme was illegal. According to HMRC anyway. Hence the wait on the tribunal.
---------
Actually it wasn't illegal when we used it. It's only now that HMRC have decided its illegal and now they want to retrospectively punish us.
---oo---
More revisionist nonsense.
There is nothing retrospective about it. Rangers were administering their EBTs wrong and got found out when Ibrox got raided as part of an investigation into dealings at an English club. Some, let's call it, 'interesting' paperwork was uncovered. As a result, HMRC raised an assessment against Rangers who appealed to the FTTT. We are currently awaiting the result of that appeal. I wouldn't hold your breath though.
posted on 6/8/12
I forgot to add, 'allegedly'.
posted on 6/8/12
"In December 2010, as a result of legislation changes introduced by HMRC, EBTs were rendered tax inefficient. Thereafter the Club made no further contributions to EBTs"
Murrays statement today...
posted on 6/8/12
Ask yourself why he used them in the first place and why they were kept secretive until Rangers were raided because of the Boumsong swindle
If he says there was no cheating, then why all the worry all of a sudden?
Why, in Murray's statement, is he calling for no further actions against the club...could he be hiding something?
posted on 6/8/12
Bateman,
Nobody is arguing that EBTs per se were illegal during the period in question. It's the specific manner in which they were administered by Rangers that has been considered illegal by HMRC. i.e. they were used to make contractual payments rather than to advance discretionery loans, and that Rangers had final say over the payment of amounts rather than the EBT trustees.
posted on 7/8/12
Comment deleted by Site Moderator
posted on 7/8/12
comment by curly - Sporting Integrity my erse! Cash cow n... (U1103)
posted 11 hours, 3 minutes ago
Prove it
---oo---
Prove it?
Have you been living on Mars until yesterday?
posted on 7/8/12
Comment deleted by Site Moderator
posted on 7/8/12
Nobody is arguing that EBTs per se were illegal during the period in question. It's the specific manner in which they were administered by Rangers that has been considered illegal by HMRC
+++
Read, think...reply
posted on 25/11/12
What this club did was morally wrong, EBTs aRe now illegal, why? As an ordinary working man I had to pay my tax and Ni. It was deducted by my employer. To say these where loans and then say they do not have to be repaid is stupid if you get a loan you have to repay it, it was a tax scam. A 2 1 verdict, you only have to read the text of the case then ask yourself how could two of the three people on the case come to their conclusion, I think one should look at their background then ask yourself the question
posted on 25/11/12
you only have to read the text of the case then ask yourself how could two of the three people on the case come to their conclusion, I think one should look at their background then ask yourself the question
---
Im sure the lawyers wish they had ,looked at the text of the case/
why on earth did they not think to do that.
Lucky for Rangers they never phweee
posted on 25/11/12
What this club did was morally wrong, EBTs aRe now illegal, why? As an ordinary working man I had to pay my tax and Ni.
===
Great point
I will cancel my ISA first thing in the morning in support.
posted on 25/11/12
it's funny reading old threads eh?
posted on 25/11/12
Comment deleted by Site Moderator
posted on 25/11/12
FTBTC,ya bams.
WATP
posted on 11/12/12
Not seen Tim o'Tay for a while
posted on 11/12/12
posted on 11/12/12
Comment deleted by Site Moderator
posted on 11/12/12
Not seen nightmail on in a while either
posted on 11/12/12
maybe one of them is the Rangers Tax Case buffoon?
posted on 11/12/12
For whatever reason they're not on, I'm sure it's not because of a tax case appeal
Probably feel pity on you.
Page 3 of 5