Rangers oldco liquidators set to take 'Big Tax Case' to a Supreme Court appeal

[Frankie 8,663]

Apparently BDO are now denying they've made a decision on any appeal.

[JTP 0]

I read that HMRC had lost the latest case before it was announced so until I see it official, I'll be taking any "leaks" as nonsense right now.

[Frankie 8,663]

I read that HMRC had lost the latest case before it was announced so until I see it official, I'll be taking any "leaks" as nonsense right now.

 

To be fair, the alleged leaks came from badly informed fans it seems - there was nothing in the media until the morning of the result.

Edited November 20, 2015 by Frankie

[compo 7,216]

How many more appeals are left I am fed up with this waste of money and time

[BEARGER 1,830]

To be fair, the alleged leaks came from badly informed fans it seems - there was nothing in the media until the morning of the result.

 

Craig from SOS and the editor of Copland Road Org.

[the gunslinger 3,366]

Sure fire win.

[ian1964 10,761]

Rangers’ administrators to take HMRC all the way to the Supreme Court

 

HMRC scored a victory this month when judges ruled that the tax avoidance plans could be judged as disguised remuneration, but Rangers will fight back

 

By Roddy Forsyth

 

7:47PM GMT 20 Nov 2015

 

Rangers’ administrators will take HMRC all the way to the Supreme Court over the vexed issue of the use of EBT schemes at Ibrox between 2001 and 2011, Telegraph Sport understands. The move expected to be announced next week and predicted by Telegraph Sport would constitute the final attempt to keep the taxman from taking the lion’s share of the money available to creditors from the 2012 meltdown of the Ibrox oldco under former owner Craig Whyte.

 

After failing to persuade two lower tier tribunals that the EBT (Employement Benefit Trust) schemes were administered incorrectly, HMRC scored a victory in the Court of Session in Edinburgh earlier this month, when three judges ruled that the tax avoidance plans could be judged as disguised remuneration. The Court of Session judgement triggered a clamour amongst fans of rival clubs to have Rangers stripped of the honours acquired while the scheme was in use.

 

Rangers won five Scottish championships and achieved four successes in the Scottish Cup and six in the Scottish League Cup during that period. However, an appeal to the Supreme Court would shelve the issue for at least a year and quite probably longer. The Telegraph can disclose that both the Scottish Football Association and the Scottish Professional Football League were made aware earlier this week of the likelihood of an appeal.

 

Aside from securing a favourable ruling to use as a precedent for cases involving EBT use by UK businesses – which are believed to run to thousands – HMRC also wants to be in a position to acquire the bulk of the revenue remaining in the control of BDO, liquidators of the oldco. The cash pot includes £24 million obtained in a settlement with Collyer Bristow, the London legal firm, over the issue of the advance sale of three years worth of season tickets which helped fund Whyte’s original takeover of the club.

 

If HMRC succeed, the other creditors can expect a maximum return of £1 for every £12 owed to them. If BDO prevails, the return would double.

 

The question of Rangers’ use of EBTs was raised again at Celtic’s annual general meeting today (Fri) by a representative of the Resolution 12 group of supporters who want the Parkhead club to pursue the issue with the SFA. Peter Lawwell, the Celtic chief executive, said: "When hugely sensitive issues come up we don't always go public but I can assure everyone that everything we do is for the benefit of Celtic Football Club.

 

"The Resolution 12 people are satisfied with what the club are doing."

 

Hugh Clark, one of the Resolution 12 group, said: "We are happy with way club is working with them and they are awaiting SFA response."

 

The SFA, however, will make no moves over the issue while an appeal remains possible or is actively under way. It is understood that the prevailing view within the SPFL is that no statute of theirs or their predecessor body, the Scottish Premier League, has been breached and that the most likely route for retrospective action against Rangers, if any, would have to be applied through the SFA regulations covering behaviour which brings the game into disrepute.

 

In 2012 Telegraph Sport revealed that several Premier League clubs in England, including Arsenal, had agreed settlements with HMRC, in respect of EBT and other tax avoidance schemes. In Scotland, Celtic are the only club apart from Rangers who are known to have used an EBT contract, in the single case of Juninho, who played for the Hoops in 2004-05, and who received his cash after he left the club, unlike those at Ibrox who were beneficiaries while still playing there.

 

http://www.telegraph.co.uk/sport/football/teams/rangers/12008956/Rangers-administrators-to-take-HMRC-all-the-way-to-the-Supreme-Court.html

[chilledbear 16]

If Roddy Forsyth is saying it, I would say it will happen.

[ian1964 10,761]

I've always thought I would be amazed if this was never appealed!

[RANGERRAB 3,741]

As well as a duty to creditors BDO also have a duty to reduce the debt wherever possible.

Going to the Supreme Court & overturning the ridiculous judgement two weeks ago by the three stooges who didn't seem to know what they were supposed to be doing will reduce that debt liability.