Rangers tax case - Scottish football to self-harm again?

[colinstein 294]

there's no question as to what's best for us.

Appeal first.....then decide on a course of action after the result is known

[Crimson Dynamo 128]

Apologies this is off topic.

 

But it has already been mentioned here so quick question regarding the Celtic players investing in movies.

 

If Celtic were paying the tax etc of their players, why would the staff have to then invest in a separate scheme to avoid paying tax?

 

Is it an interest thing? I'm just curious and not a tax expert by any means and once again apologies that it is off topic. I agree with the sentiments off the original post, it's time we moved on from this and Scottish Football as a whole.

[craig 5,199]

The only noise BDO can hear are tills ringing.same as 99% of the vultures.

Nobody is on our side except US.

Some will be happy to be paid to take sides.Such is life.

 

That is their job, to get the best possible dividend for the creditors. It is also a reason why BDO have one of the best reputations in the country for insolvency and liquidation.

[craig 5,199]

Apologies this is off topic.

 

But it has already been mentioned here so quick question regarding the Celtic players investing in movies.

 

If Celtic were paying the tax etc of their players, why would the staff have to then invest in a separate scheme to avoid paying tax?

 

Is it an interest thing? I'm just curious and not a tax expert by any means and once again apologies that it is off topic. I agree with the sentiments off the original post, it's time we moved on from this and Scottish Football as a whole.

 

I cant say for sure but I do know I read something a couple of years ago about how some players (I believe Rooney was the example I read about) are considered self-employed (for lack of better words) - reason being that although they were employed by the club they also have image rights, royalties, sponsorships etc - so those earnings would be considered self-employed earnings. Thus, they could invest in these movie investment schemes and have their tax liability reduced from the tax break from the movie scheme.

 

That said, even if they were employed by Celtic and had their tax deducted at source, I believe that the movie investment schemes operate(d) similar to pension schemes in that they allowed you a deduction from tax - this deduction would normally be applied through your Tax Code - it would increase your tax-free salary, which in turn increases your PAYE tax code, which in turn gives you a bigger deduction against tax.

 

So even though Celtic are paying their salaries, each person could have a differing tax code which provides higher or lower tax deductions.

[limeburner 0]

That is their job, to get the best possible dividend for the creditors. It is also a reason why BDO have one of the best reputations in the country for insolvency and liquidation.

Err,i was meaning cash for themselves. They are in a no loose situation,short of setting up their own printing press,they have it made.

Cashing in on misery,Vultures.Sorry,thats my take.

[forlanssister 3,114]

Err,i was meaning cash for themselves. They are in a no loose situation,short of setting up their own printing press,they have it made.

Cashing in on misery,Vultures.Sorry,thats my take.

 

BDO are a world away from D&P, whist we couldn't have had worse administrators we couldn't have gotten much better people to handle the liquidation.

[limeburner 0]

BDO are a world away from D&P, whist we couldn't have had worse administrators we couldn't have gotten much better people to handle the liquidation.

Fair enough,i was talking in more general terms.It doesnt matter what the outcome is,the longer this runs the more cash they will make.

Not exactly incentive based employment is it.Quite the opposite i would suggest.

[forlanssister 3,114]

Fair enough,i was talking in more general terms.It doesnt matter what the outcome is,the longer this runs the more cash they will make.

Not exactly incentive based employment is it.Quite the opposite i would suggest.

 

This is without doubt the most complex liquidation Scotland has ever seen.

 

It took liquidators over 9 years to conclude the liquidation of Whyte's Vital UK and this is many times the scale of that.

[aweebluesoandso 290]

Anyone got any idea what it would cost going to appeal at the Supreme Court? i read figures of £250k to £350k, i could afford the first figure but the second would mean me approaching Wonga. However the RFFF could pay it no bother, especially if they open the fund and call for donations again

[craig 5,199]

BDO are a world away from D&P, whist we couldn't have had worse administrators we couldn't have gotten much better people to handle the liquidation.

 

Sadly some people have pre-conceived ideas of the sharks that circle our Club. BDO are NOT that type of organization. D&P, quite a different proposition, and most probably the reason that many are cynical over BDO.