BDO granted leave for Supreme Court appeal

[Frankie 8,367]

Has to be seen as good news for oldco creditors and hopefully we'll get this resolved in our favour asap.

[blueflag 384]

So, guessing with supreme court this is the final decision, no appeals can be made to a Supreme court decision..... or can it??

[Frankie 8,367]

So, guessing with supreme court this is the final decision, no appeals can be made to a Supreme court decision..... or can it??

 

That's correct.

[Frankie 8,367]

So, guessing with supreme court this is the final decision, no appeals can be made to a Supreme court decision..... or can it??

 

That's correct....

Edited March 8, 2016 by Frankie

[ian1964 10,613]

So!, Supreme court will give a verdict on whether oldco has a tax liability re: EBT's. Highest court in the land so verdict final.

[ian1964 10,613]

James Doleman ‏@jamesdoleman 13m13 minutes ago

Just been told by legal source that given specifics of today's CoS ruling Supreme Court will be obliged to hear "Rangers Tax Case" appeal.

[ian1964 10,613]

BBC Article

 

Rangers' liquidators have been granted leave to appeal to the UK Supreme Court over a ruling that the use of Employee Benefit Trusts (EBTs) broke tax rules.

 

Rangers used the scheme from 2001 until 2010 to give millions of pounds of tax-free loans to players and other staff.

 

HM Revenue and Customs (HMRC) lost two tribunals before judges agreed these were salary payments subject to tax.

 

The judges have now said liquidators BDO can appeal, as the ruling has implications for future cases.

 

Rangers' use of EBTs and the subsequent appeals by HMRC have become known as the "big tax case".

 

HMRC lost its initial appeal that tax was due on EBTs at a First Tier Tax Tribunal on 2012.

 

The decision was upheld at an Upper Tier Tribunal in 2014.

 

HMRC's third appeal, made last year, was upheld in a decision issued by Lord Carloway, sitting with Lord Menzies and Lord Drummond Young.

 

The judges ruled that if income was derived from an employee's services, in their capacity as an employee, it was an emolument or earnings and "thus assessable to income tax".

 

The same judges have now allowed an appeal to the UK Supreme Cout.

 

Lord Carloway said: "The court is of the of the view that there is an arguable point in law of public interest which should allow the appeal to the UK Supreme Court to proceed.

 

"There are significant issues in this case which may apply to other similar situations."

 

The decision was in relation to Murray Group companies, including the liquidated company RFC 2012 - formerly The Rangers Football Club PLC.

 

It has no impact on the current owners at Ibrox.

 

http://www.bbc.co.uk/news/uk-scotland-glasgow-west-35753304

[BrahimHemdani 1]

So the people who made the judgement now have to judge that they got it wrong. What the f is that.

 

We can forget that then.

 

I'm not so sure.

 

Whilst judges sitting in judgement on themselves appears strange to say the least it seems undeniable "that the appeal raises an arguable point of law of general public importance which ought to be considered by the Supreme Court", namely is the application of common sense more important than strict application of the law.

 

So I think the judges would look extremely foolish if they did not allow the appeal to be made in fact they might even welcome it as failure would provide justification for their decision and success would provide higher authority for future such cases.

 

Edit: posted the above before I read that leave to appeal had been granted.

Edited March 8, 2016 by BrahimHemdani

[BEARGER 1,829]

BBC Scotland news "........on the current owners of Rangers Football Club". Could be we are forcing a change in reporting? In the past its been club liquidated.

[Scott7 5,662]

"Whilst judges sitting in judgement on themselves appears strange to say the least" - BH

 

Happens Very often in lower courts as I tried to explain to BD above.