GovanAllan 0 Posted November 24, 2012 Share Posted November 24, 2012 The general consensus I got from Cosgrove & Jum, was it was still our fault for not tackling it earlier a pair of bigoted bastards. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,387 Posted November 24, 2012 Share Posted November 24, 2012 The general consensus I got from Cosgrove & Jum, was it was still our fault for not tackling it earlier a pair of bigoted bastards. tackling what earlier? 0 Quote Link to post Share on other sites More sharing options...
bluebear54 0 Posted November 24, 2012 Share Posted November 24, 2012 To be fair, Jimbo did point out that we had offered HMRC a £10m settlement. Did we? Or did MIH? A lot of things tend to get muddied. What is clear to me is that HMRC should never have been in a situation to oppose the CVA. I could have come forward with an airy-fairy concept that Rangers owed me £150m. No more far fetched than HMRC. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,387 Posted November 24, 2012 Share Posted November 24, 2012 To be fair, Jimbo did point out that we had offered HMRC a £10m settlement. Did we? Or did MIH? A lot of things tend to get muddied.What is clear to me is that HMRC should never have been in a situation to oppose the CVA. I could have come forward with an airy-fairy concept that Rangers owed me £150m. No more far fetched than HMRC. I read a quote from an insolvency expert who said the BTC should have been valued at £1 by D&P in administration because its outcome wasn't known. Certainly not £75m or whatever. This would have meant, of course, that HMRC couldn't have blocked CVA as they weren't main creditor. That would have been ticketus who accepted CVA 0 Quote Link to post Share on other sites More sharing options...
Scott7 5,531 Posted November 24, 2012 Share Posted November 24, 2012 If I said I knew next to nothing about tax law i would be over-rating myself. But is an assessment not a debt due but suspended pending the outcome of an appeal? If D&P had put the Revenue down for £1 provisional they would have given a false figure as a potential surplus for creditors. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,083 Posted November 24, 2012 Share Posted November 24, 2012 If I said I knew next to nothing about tax law i would be over-rating myself. But is an assessment not a debt due but suspended pending the outcome of an appeal? If D&P had put the Revenue down for £1 provisional they would have given a false figure as a potential surplus for creditors. They used "TBC" (to be confirmed) often enough in their report perhaps they should have used that in relation to the EBT claim. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted November 24, 2012 Share Posted November 24, 2012 tackling what earlier? The tax case, they claim if we had made more of an effort to meet HMRC in the middle we wouldn't be in this. The silence when Traynor pointed out we had offered 10mill to the taxman 3 years ago was deafening. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,387 Posted November 24, 2012 Share Posted November 24, 2012 (edited) The tax case, they claim if we had made more of an effort to meet HMRC in the middle we wouldn't be in this. The silence when Traynor pointed out we had offered 10mill to the taxman 3 years ago was deafening. whether people like it or not EBT's were perfectly legal if done properly. Last tuesday's verdict seems to suggest ours was in general OK. Over 5,000 UK companies had EBT's before they were abolished late 2010(or should I say the tax loophole was closed). They were legal tax avoidance schemes to put it bluntly. Some companies agreed to pay HMRC sums to compensate for the tax they had avoided. Others chose not to. I believe we offered HMRC a sum ( you say £10m) which HMRC rejected. Now they've got nothing except a large legal bill ( ha! ha !) I actually enjoyed winning the taxcase last tuesday almost as much as beating the dhims..........there you go !! Edited November 24, 2012 by RANGERRAB 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,578 Posted November 24, 2012 Author Share Posted November 24, 2012 David Murray Interview about EBT's, HMRC and Rangers. 19 March 2012 0 Quote Link to post Share on other sites More sharing options...
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