Rangers' financial blues

[GovanAllan 0]

Regarding the big HMRC case again ... (why was the other thread closed?)

 

Methinks this was a tax loophole, until HMRC closed it a wee while back. Now they possibly want some of that money back, by pre-dating the law's viability or the like. What is of greater concern is that press and media make it look that if the case goes against us, we will be in oblivion the day after. Which is rubbish, since we will most likely appeal it - or they will, if it goes against them. Thus, either way, it will not be settled for months, if not years, unless Whyte manages to pay them off with a smaller sum, or we go into administration and the taxman gets next to nothing. Thus, the scaremongering these days is utterly ridiculous, but it does have serious effects on other stuff, such as dealing with the court of Bain, dealing with new customers and whatnot. Implying that there's a concerted campaign to harm us and our good name is probably not that far fetched.

 

Tax man challenging the last in line for money in London in November, rumour has it because of the state of the country it will be changed so he gets first pick of the assets after administration.

[pete 2,499]

Tax man challenging the last in line for money in London in November, rumour has it because of the state of the country it will be changed so he gets first pick of the assets after administration.

 

That could only happen I would imagine if everything was sold off and it is in nobodies interest that Rangers go out of business totally. I hope!

[GovanAllan 0]

That could only happen I would imagine if everything was sold off and it is in nobodies interest that Rangers go out of business totally. I hope!

 

Used to think that too Pete but over the last few months I don't see anybody but us shouting we will always be here, without us the Scottish game is dead but most of the people in charge of the game in this country can't see pass the end of their noses probably think they will get a bigger cut of the tv money only thing is without us there is no TV money or anything else.

[GovanAllan 0]

That could only happen I would imagine if everything was sold off and it is in nobodies interest that Rangers go out of business totally. I hope!

 

Would it not also mean that they would be the biggest creditor and not Wyhte who holds the debt so we would still have to pay the tax bill after taking a dip Therefore we can't dodge it.

[der Berliner 3,568]

The plot thickens! Although it would be good if Whyte and King could start working together.

 

As I said over at FF, he might just jet in for the Old Firm game ...

[Frankie 8,372]

The problem I have is that if Whyte can suddenly change his intentions of investing £5million per annum transfer funds into £7million budget decreases, then where does that leave his promise of waiving said debt if we win the larger tax case?

[Zappa 0]

The problem I have is that if Whyte can suddenly change his intentions of investing £5million per annum transfer funds into £7million budget decreases, then where does that leave his promise of waiving said debt if we win the larger tax case?

 

You also have to consider what a drastic effect £7m in cuts would have on the playing squad because selling one single player on £20k p/w is only going to cut about a million off the wage bill. It's making me question the reason for new contracts and wage increases being given to McGregor, Davis, Whittaker etc. It makes total sense to secure our players on long-term contracts, but not much sense to give a bunch of them bumper pay rises then turn round a few weeks later and say we need to cut the wage bill.

[GovanAllan 0]

Is it only me or is everybodys head bursting to with all this well he might but then he may not, don't suppose we could ban all tax talk for a week.

[chilledbear 16]

You also have to consider what a drastic effect £7m in cuts would have on the playing squad because selling one single player on £20k p/w is only going to cut about a million off the wage bill. It's making me question the reason for new contracts and wage increases being given to McGregor, Davis, Whittaker etc. It makes total sense to secure our players on long-term contracts, but not much sense to give a bunch of them bumper pay rises then turn round a few weeks later and say we need to cut the wage bill.

 

It could be, we would be able to sell them for the maximum, instead of players being on the last year of their contract.

[der Berliner 3,568]

Is it only me or is everybodys head bursting to with all this well he might but then he may not, don't suppose we could ban all tax talk for a week.

 

Well, much like with a football game - of which you hardly know the outcame ahead of kick-off - you can essentially just take on what you get, try to stay objective and assume that the new Rangers management is not lying about what they do.