Court of Session rules in favour of HMRC + Rangers Issue Statement

[der Berliner 3,808]

Maybe we should appeal to the staff members who received the EBTs to pay these "loans" back from now on. At a rate of say 20 quid a month ... might blow up HMRCs argument.

Edited November 5, 2015 by der Berliner

[forlanssister 3,114]

Listen from about 1.35.00 in, lasts approx 4 minutes.

 

http://www.bbc.co.uk/programmes/b06kq42k

 

It seems to be the consensus among the legal/tax avoidance sector that the judgement is wrong and should be appealed, I suppose that needs the caveat that it's in their interests to do so.

[calscot 0]

Maybe we should appeal to the staff members who received the EBTs to pay these "loans" back from now on. At a rate of say 20 quid a month ... might blow up HMRCs argument.

 

I thought about than and even extended to to paying back the whole amount - except that would 47.65m. However, even starting to pay back some of it, would surely mess up any calculations of tax due... Or would they charge the full amount and then give rebates for the amounts repaid?

 

But, the point would be that they are loans and not a benefit in kind.

[ian1964 10,761]

#ebtmemories on twitter is superb

 

https://twitter.com/hashtag/EBTMemories?src=hash

 

[ian1964 10,761]

Tax case seems lost, but what exactly was the sporting advantage?

 

by James Black | Guest Contributor

 

The taxman finally won.

 

After years of going to and fro with investigations and appeals HMRC finally received a judgement in their favour at the Court of Session yesterday.

 

The masses were right. Rangers had cheated the public purse. Sir David Murray, who the claim was ultimately against, and BDO could still appeal the decision to the Supreme Court however either party are yet to comment on their next move.

 

Unsurprisingly, Twitter went into meltdown. Rangers fans discussed what this meant for the club going forward and the implications for the liquidators of the Oldco whilst fans of every other club sniffed blood. It felt like the summer of 2012 all over again with some fans demanding "justice" and others hatching plots to see Rangers stripped of any and all trophies won in the spell that EBT's were used.

 

Read more: http://www.thecoplandroad.org/2015/11/tax-case-seems-lost-but-what-exactly.html

[craig 5,199]

You have to laugh at the mantra "the taxman finally won".... they have won one instance in 3 of appeals. I would be interested to see if the previous two determinations were met with "Rangers have finally won" - I highly doubt it. More likely the headlines were "HMRC set to appeal".

 

Until SDM/MIH and BDO confirm they will not launch an appeal this one could still be far from over. Yet the headlines make it seem as if this is concluded.

 

I wouldn't be too surprised if other companies who are in the process of dispute with HMRC over EBT's are speaking to SDM/MIH and offering not only moral support but financial too - it would also be in their best interests to have us appeal the decision.

[Bearman 9]

#ebtmemories on twitter is superb

 

https://twitter.com/hashtag/EBTMemories?src=hash

 

 

Some really clever stuff in there mate

 

 

 

[RANGERRAB 3,741]

You have to laugh at the mantra "the taxman finally won".... they have won one instance in 3 of appeals. I would be interested to see if the previous two determinations were met with "Rangers have finally won" - I highly doubt it. More likely the headlines were "HMRC set to appeal".

 

Until SDM/MIH and BDO confirm they will not launch an appeal this one could still be far from over. Yet the headlines make it seem as if this is concluded.

 

I wouldn't be too surprised if other companies who are in the process of dispute with HMRC over EBT's are speaking to SDM/MIH and offering not only moral support but financial too - it would also be in their best interests to have us appeal the decision.

 

And no one knows exactly how much HMRC would settle for in lieu of tax on the EBT scheme owed do they? If you read the likes of the Daily Rebel all sorts of eye-watering figures were quoted. But did anyone in an official capacity confirm them? I think not & remember too Arsenal settled for something like £11m for theirs

 

It needs to be remembered too that BDO successfully got 20 odd million from CB and you'd assume they'd get something similar from D&P if Clark & Whitehouse get convicted.

 

That would leave a fairly decent creditor's pot with HMRC getting by far the lion's share. If it meant HMRC reached a settlement with BDO for the oldco's tax liabilities(both EBT & Whyte's non payment of PAYE/NI) how then would the frothing-at-the mouth,Rangers-hating social underclass in this country go about title-stripping agenda then? Tax would have been paid but perhaps not the amounts they'd been led to believe.

 

This assumes though yesterday's verdict isn't challenged. FWIW I think it will be as you suggest Craig. I believe it'll go to the Supreme Court and will be overturned.

Edited November 5, 2015 by RANGERRAB

[calscot 0]

It all seemed a bit quieter when we won two rounds.

[True_Ger_1872 2]

http://waitingfortax.com/2015/11/06/on-ebts-and-rangers-fc-part-1/

 

Worth a read - from the chap who was on BBC Radio Scotland stating the decision was wrong....