Darrell King Exclusive on RFC Tax Issues

[rbr 1,266]

You cannot blame Daryl King for printing stories , when the information he is recieving comes directly from inside the club , dont shoot the messenger if you dont like the story .

 

What is very apparent is this is just the start of what will undoubtably be a long press campaign over hearts and minds (ours ) by factions within the club , this will cover everything from budgets , to players contracts , to who eventually owns us , I was near hysterical yesterday , however after a few valium and many phone calls I am a lot calmer and prepared to basically treat each story with a pinch of salt , however as I already stated dont shoot the messenger .

[Bluedell 5,679]

You cannot blame Daryl King for printing stories , when the information he is recieving comes directly from inside the club , dont shoot the messenger if you dont like the story .

 

 

When he spouts crap such as we were one vote away from administration and he is not printing the facts in an objective manner then he is open to be shot down.

[Frankie 8,665]

With the coverage over the last few days, you'd think we 'd just lost the league and the associated monies with our CL qualification.

 

FFS, Hugh MacDonald even suggests Bougherra will be sold for �£3million! :D

[ian1964 10,761]

With the coverage over the last few days, you'd think we 'd just lost the league and the associated monies with our CL qualification.

 

FFS, Hugh MacDonald even suggests Bougherra will be sold for �£3million! :D

 

Aye,spot on mate,.......................WE ARE THE CHAMPIONS :spl: :robbo:, the BHEASTS are hurting big time

[rbr 1,266]

When he spouts crap such as we were one vote away from administration and he is not printing the facts in an objective manner then he is open to be shot down.

 

What would have happened if AJ did not vote to accept the banks business plan . He is reporting what he was told , if someone inside ibrox who was involved in the vote believes that we were one vote from Administration then that's his belief , I am not agreeing or disagreeing as I wasn't there .

 

Just what is Objective anyway Bluedell it's Rangers we are talking about, emotions come into play , and there is a high stakes game being played out through the press , we may not agree with this , we may find it a bit cheap and nasty even , but this is obviously the way it's going to be played out , and if Directors and managers are giving briefings to journalists then they will print what they are given , in fact they will lap it up and we just have to deal with it .

 

That's why it's good to have people such as your good self who can calm the situation down by reasoned debate .

 

 

It's going to be a very long summer

[Danny 0]

He's trying very hard to keep a well paid job right now and will print whatever he thinks will be seen by his bosses as likely to stimulate better sales. Rangers, celtic, who cares - when car, mortgage, holiday and kids schooling need paid, football doesn't even get thought about. And the truth is we'd all do the same.

 

Erm, trying very hard to keep a well paid job? He's been a Times hack for at least a decade, but only in the last half year has he started doing this kind of thing.

 

Stop defending him - or do you think Spiers is fine too and is just trying to 'make money'?

[maineflyer 0]

Erm, trying very hard to keep a well paid job? He's been a Times hack for at least a decade, but only in the last half year has he started doing this kind of thing.

 

Stop defending him - or do you think Spiers is fine too and is just trying to 'make money'?

 

While you might not like what I posted, at least try to deal with it rationally.

 

First, I defended no one, least of all King, nor did I give any indication I thought he was "fine" - I don't. Second, I made no reference to Spiers at all, only you brought him into this. Third, King does have a well paid job and I'm sure he badly wants to keep it. So, where exactly did I go wrong?

 

You shouldn't just lash out every time someone tries to introduce a different perspective.

[wabashcannonball 0]

Feel free to browse further revelations about the validity of the non HMRC story fabricated by ragtops...i.e. Evening Times...

 

http://forum.rangersmedia.co.uk/index.php?showtopic=150361

[stewarty 2,060]

Feel free to browse further revelations about the validity of the non HMRC story fabricated by ragtops...i.e. Evening Times...

 

http://forum.rangersmedia.co.uk/index.php?showtopic=150361

 

Perhaps you could summarise for those who do not frequent other fora?

[Bluedell 5,679]

For those who don't go onto RM.

 

I received an email this morning from a tax specialist regards Rangers "Employee Trust" tax investigation. Some of our clients run their companies through these EBT's hence the clarifying email from today.......

 

 

 

I am writing to everyone in Scotland collectively as it is more likely that you will be contacted by clients or other business contacts given the high profile nature of the business above

 

You'll see an example of the reporting in the attached link

 

http://www.eveningtimes.co.uk/news/editor-s-picks-ignore/taxman-targets-rangers-1.1023503

 

A few people have already written to me regarding this regarding the background and also to ascertain any implications for our clients.

 

First and foremost, that is a splendid example of classic misreporting in the press. In fairness, I think that Rangers have actually handled this quite well. As I understand it, there are no court proceedings at this stage and the circumstances are quite different to that of Portsmouth and other clubs where HMRC has taken action to recover unpaid debts.

 

Rangers have undertaken remuneration trusts through Baxendale Walker (the Rangers chairman David Murray apparently is a client). Obviously, we have views regarding Baxendale Walker which are best not published.

 

Nonetheless, I think that the issue has been blown out of all proportion. HMRC will have enquired regarding the structure. In all probability it is not an Investigation - in all probability, Rangers will have remitted the tax and national insurance on normal salary payments and arrears will be minimal, if any.

 

In relation to the remuneration trusts, I would guess that HMRC will have issued protective regulation 80 assessment (before the expiry of six years). As you know, this was done on all Premier EBT at December 2009. This is merely a protective measure by HMRC.

 

In all probability, Rangers will have undertaken the Baxendale Walker equivalent of the miniEBT. No Corporation tax deduction will have been claimed for obvious reasons.

 

Therefore, it is absolutely preposterous for the press to speculate that millions will be payable in terms of tax. Whilst we would not necessarily support Baxendale Walker or their approach, I would be astonished if HMRC was successful. To do so, they basically have to undo Dextra and Sempra. Clearly, we do not have access to the structure or the implementation process applied. If there is any weakness, that's where it will lie. However, the public pronouncements by Rangers have been firm - in fact, you could say that their approach is one of "no surrender!"

 

However, informed legal opinion is that any HMRC challenge to undo the above cases, is likely to be unsuccessful.

 

Another practical issue which arises from this is that David Murray is in the throes of selling the interest in the club. Any purchaser would reasonably expect the vendor to indemnify them for any future liabilities. We have had quite a few examples of this and the vendor agrees to indemnify the purchaser should any liabilities arise.

 

I hope that this is helpful to you.

 

Best wishes