Now official: HMRC appeal dismissed

[Zappa 0]

Yet another major embarrassment for HMRC.

 

You really have to wonder how much money they've wasted on their case against Rangers and whether those who instigated it think it's been worth it.

[colinstein 294]

Yet another major embarrassment for HMRC.

 

You really have to wonder how much money they've wasted on their case against Rangers and whether those who instigated it think it's been worth it.

 

not only the costs of these tribunal cases but they knocked back an offer of £10 million from Murray

[ian1964 10,724]

Yet another major embarrassment for HMRC.

 

You really have to wonder how much money they've wasted on their case against Rangers and whether those who instigated it think it's been worth it.

 

Sue them I say!

[ian1964 10,724]

Lifted from FF:

 

In response to the release of the judgement of the Upper Tier Tax Tribunal (“UTT”) on HMRC’s appeal against the original decision of the First Tier Tax Tribunal (“FTT”) on the operation of the Employee Benefit Trust (“EBT”), a spokesperson said: “We are satisfied that the UTT has now published its widely awaited decision and note the contents thereof. We are pleased with the judgement which again leaves negligible tax liability and overwhelmingly supports the views collectively and consistently held by our advisers, legal counsel and MIH itself.

 

"We will therefore review the detailed content of the decision with our legal counsel and advisers to ascertain what action, if any, is now required by MIH.

 

"The decision substantially reduces HMRC’s claim in the liquidation of the old Rangers Football Club.

 

"While we have been successful in both the FTT and UTT, there are, as we have stated previously, no victors. This has been an exceptionally long, difficult and expensive process involving not just the FTT and UTT but also several approaches to resolve the matter with senior HMRC officials on a commercially sensible basis for all parties which were rejected.

 

"MIH has, at all times, recognised that the tax tribunal proceedings stemmed from arrangements put in place during its ownership. They were introduced before legislative changes removed the tax efficiency of such arrangements from the end of 2010.

 

"However, it is obvious that the much publicised existence of these proceedings over-shadowed Rangers Football Club for many years and tarnished the external perception of its value. There can be little doubt that despite favourable legal opinion, potential acquirers were therefore dissuaded from pursuing their interest during a period in which we were marketing the sale of MIH’s shareholding.

 

"The case has also stimulated extensive press and social media comment, discussion and speculation, a significant quantity of which has been ill informed. During proceedings, it would have been entirely inappropriate for us to highlight fundamental misunderstandings or contribute to this public debate.

 

"Notwithstanding all of this, it is abundantly clear that Rangers Football Club would not have gone into administration or liquidation had the purchaser fulfilled its contractual obligations and responsibilities. Similar to the resolution of the UTT appeal, we hope that that the relevant authorities conclude their investigations and commence proceedings at the earliest opportunity.”

 

Sir David Murray

[Darthter 542]

Sue them I say!

 

I think Oldco could have a pretty strong case if they can show that due to the BTC/FTT hanging over their heads, it resulted in the liquidation etc.

[barca72 440]

When we look at SDM's statement, it looks like he is urging the authorities to bring the hammer down on Whyte and his sordid area; on the RTC blogger, Daly and the HMRC leaker etc. and just about anyone else who was invoved in besmirching the oldco Rangers.

Now as a result of the Collyer Bristow determination, the oldco may end up with more money in assets than it owes as has been speculated by some, then it may prove to be that HMRC forced liquidation for the paltry sum of less than £ 10M ( £14M to PAYE less cash in hand ).

With the preponderance of evidence coming to bear and showing Rangers were the victims of foul play, rather than the perpetrators of wrongful deeds - it may be shown that HMRC acted too swiftly here.

That is something the shareholders of the oldco, or BDO, must chase if they are so inclined.

That leaves us with one area that will not be investigated by the authorities - the five-way-agreement.

With the execution of this contract they, the negotiators and low-level paper pushers of the Scottish football authorities, kept monies owed to the oldco and forced the newco to pay footballing debts owed by the oldco, at the same time they kept money back from the newco (transfer money from Stoke City ).

They forced us to accept unlawful sanctions ( under undue influence ), and probably committed other offences against us (if it can be shown that liquidation should never have taken place then the causal link to the SPL removing us from their league should never have happened, ergo we should never have suffered loss of prestige and loss of European income etc. ).

With us now having the high ground, would this not now surely be the time to seek legal redress? Mather said that we should not forget and should properly time when to enter the fray.

If the RFFF is good for anything now would be the time to use it.

If we can't get our money back, then let us negotiate for a cleaner Scottish game by removing the the toxic head of the bheast ( paper pushers and all) {one can always dream}.

[Blue Moon 1,293]

I am absolutely over the moon with this decision.

 

Next.......justice.

[Ser Barristan Selmy 222]

I feel many things. Over the moon is not one of them.

[BrahimHemdani 1]

When we look at SDM's statement, it looks like he is urging the authorities to bring the hammer down on Whyte and his sordid area; on the RTC blogger, Daly and the HMRC leaker etc. and just about anyone else who was invoved in besmirching the oldco Rangers.

Now as a result of the Collyer Bristow determination, the oldco may end up with more money in assets than it owes as has been speculated by some, then it may prove to be that HMRC forced liquidation for the paltry sum of less than £ 10M ( £14M to PAYE less cash in hand ).

With the preponderance of evidence coming to bear and showing Rangers were the victims of foul play, rather than the perpetrators of wrongful deeds - it may be shown that HMRC acted too swiftly here.

That is something the shareholders of the oldco, or BDO, must chase if they are so inclined.

That leaves us with one area that will not be investigated by the authorities - the five-way-agreement.

With the execution of this contract they, the negotiators and low-level paper pushers of the Scottish football authorities, kept monies owed to the oldco and forced the newco to pay footballing debts owed by the oldco, at the same time they kept money back from the newco (transfer money from Stoke City ).

They forced us to accept unlawful sanctions ( under undue influence ), and probably committed other offences against us (if it can be shown that liquidation should never have taken place then the causal link to the SPL removing us from their league should never have happened, ergo we should never have suffered loss of prestige and loss of European income etc. ).

With us now having the high ground, would this not now surely be the time to seek legal redress? Mather said that we should not forget and should properly time when to enter the fray.

If the RFFF is good for anything now would be the time to use it.

If we can't get our money back, then let us negotiate for a cleaner Scottish game by removing the the toxic head of the bheast ( paper pushers and all) {one can always dream}.

 

I have a great deal of sympathy with this view, the only question being is it worth pursuing?

 

Whilsts Whyte's lawyers now stand effectively convicted of "Breach of undertaking, breach of trust, deceit/conspiracy" this was in connection with the takeover; whereas if I understand it correctly, it was the failure to pay over PAYE/NIC that led directly to the administration.

 

HMRC will have well documented opinion to show that they were right to pursue the BTC and equally that they were right not to accept the settlement offer per se, as well as the case had wide ranging implications; and there can be no argument that they were right to pursue the PAYE/NIC.

 

The SFA for their part will say that they dealt with the situation as it was presented to them at the time.

 

We may possibly have a case for recovering the money newco paid on behalf of oldco but if oldco aren't able to recover the money themselves then the creditors are hardly going to hand the money back.

 

Sadly the loss of prestige and income at home and in Europe also is irrecoverable.

 

We most certainly do now have the moral high ground (except for non payment of PAYE/NIC); but whether it is anything more than a pyhrric victory remains to be seen.

[Blue Moon 1,293]

I feel many things. Over the moon is not one of them.

 

I am very happy with this decision.

 

I am very bitter about everything that has happened to our club but can take a great deal of pleasure from this decision. Had it gone the other way we would never have heard the end of it.

 

Allow me my little scrap of enjoyment