pete 2,499 Posted February 23, 2017 Share Posted February 23, 2017 Rangers tax case to be heard by UK Supreme Court next month as liquidators battle with HMRC over 'Oldco' cash potFive judges will hear arguments in the case on March 15 and 16 before deciding if the cash handed out by the Ibrox club was taxable earnings or loans. The liquidators of “oldco” Rangers are set to take on the taxman over a multi-million pound pot of money they have recovered for the oldco’s creditors since its collapse in 2012. It’s understood that accountants BDO have banked around £24million so far. But they fear HMRC will take every penny unless the Supreme Court overturns a previous ruling that the oldco owed around £49million in tax from controversial “EBT” payments to players and staff. Five supreme court justices will decide whether the Employee Benefit Trust cash should be classed as earnings – as the taxman claims – or loans, which is how Rangers described it. Former Rangers chairman Sir David Murray bagged £6.3million in EBT payments (Photo: PA) Court president Lord Neuberger will be joined by Lady Hale, Lord Carnwath and the court’s two Scottish justices, Lord Reed and Lord Hodge. Bosses at HMRC are determined to win the case, to set a valuable legal precedent and discourage other companies from using such tax avoidance schemes. Two tax tribunals, in 2012 and 2014, ruled in favour of Rangers over the club’s use of EBTs. But those decisions were overturned by the Court of Session in 2015 in a major victory for HMRC. Lord Drummond Young, Lord Carloway and Lord Menzies ruled it was “common sense” that the EBT payments, made between 2001 and 2009, were earnings. BDO are now challenging that verdict in the UK’s highest court. They have informed the oldco’s creditors of the move. Alex McLeish got £1.7m while Dick Advocaat, right, was handed £1.5m in EBT payments Rangers pay off £250,000 EBT fine after failing to overturn controversial SPFL decision BDO’s legal team are expected to suggest that the Court of Session judges erred in law when they threw out the tax tribunal rulings. Arguments are also expected over the legal definition of taxable earnings and the EBT trust structure used at Rangers. Two days, March 15 and 16, have been set aside for the Supreme Court to hear the arguments. “Newco” Rangers have no involvement in the case and will not be affected by the judgment. And whatever the Supreme Court decides, it’s possible there could be a further appeal to the European Court of Justice. Barry Ferguson and Ronald De Boer, right, both received EBTs Read More Law Lord who gave Rangers defeat over EBTs wants to continue hammering high earners who avoid tax A long list of Rangers players and coaching staff benefited from EBT payments, and chairman Sir David Murray received £6.3million. Players who got EBT cash included captain Barry Ferguson, who received £2.5m. Other players to benefit included Christian Nerlinger (£1.8m), Ronald De Boer (£1.2m), Craig Moore (£1.1m) and Claudio Caniggia (£1m). A portion of the cash recovered by BDO for the creditors is believed to have come from a settlement with London law firm Collyer Bristow, who were involved in Craig Whyte’s takeover of Rangers. BDO’s fees for their Rangers work are expected to run to almost £5million Very interesting times ahead off the field. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,562 Posted February 23, 2017 Share Posted February 23, 2017 And our friends at the DR can't help it ... Rangers tax case to be heard by UK Supreme Court next month as liquidators battle with HMRC over 'Oldco' cash pot The Daily Record can reveal five judges will hear arguments in the case on March 15 and 16 before deciding if the cash handed out by the Ibrox club was taxable earnings or loans. ByKeith McLeod 06:00, 23 FEB 2017 ... http://www.dailyrecord.co.uk/news/scottish-news/rangers-tax-case-heard-uk-9899937 0 Quote Link to post Share on other sites More sharing options...
StuGers 477 Posted February 23, 2017 Share Posted February 23, 2017 Surely there is no point in this as we all know that we are guilty no matter what anyone says. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,622 Posted February 23, 2017 Share Posted February 23, 2017 Surely there is no point in this as we all know that we are guilty no matter what anyone says. There is no guilty in this, there is tax due or there is not, however it doesn't matter in the eyes of Rangers haters win or lose this as you refer 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,471 Posted February 23, 2017 Share Posted February 23, 2017 And our friends at the DR can't help it ... What's so bad about what the DR wrote? Just wondering if I've missed something. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,562 Posted February 23, 2017 Share Posted February 23, 2017 What's so bad about what the DR wrote? Just wondering if I've missed something. Maybe I put that picture used by the DR right at the top of the article in on purpose? A comment from FF ... by sensiblesteve The sad thing about this is every journo and internet blogger will have something to say on this and it will get maximum exposure Meanwhile the ongoing child abuse case that could have serious implications for Cover up FC , ( what punishments could Celtic face ) the fact the SFA have appointed a Roman Catholic patsy to head their procedure review and the fact that Celtic are considering building a hotel on apiece of land they were gifted for 675k but is now mysteriously valued at 11million from their land standing supporters at Glasgow Corrupt Council None of these stories merit a peep from the Scottish press ...... Sinister agenda ? A blind man can see through them it's so blatent Journalistic integrity isn't worth more than a parkhead press pass it appears BTW, I wonder what would happen if all those who partook in this scheme and received money simply start paying their loans back now, even at a rate of pound 50 a year. Would that not blow it all out of the water? 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,471 Posted February 23, 2017 Share Posted February 23, 2017 Maybe I put that picture used by the DR right at the top of the article in on purpose? Still don't get what the issue is. A comment from FF ... by sensiblesteve Yes, the whole thing stinks, but that in itself shouldn't mean that the tax case shouldn't be reported on. BTW, I wonder what would happen if all those who partook in this scheme and received money simply start paying their loans back now, even at a rate of pound 50 a year.Would that not blow it all out of the water? It would help. It would give support to the argument that it's a loan. I doubt they would make payments though as HMRC are interested in getting the cash from oldco and not the players. 0 Quote Link to post Share on other sites More sharing options...
cooponthewing 1,139 Posted February 23, 2017 Share Posted February 23, 2017 Surely there is no point in this as we all know that we are guilty no matter what anyone says. What??? What sort of statement is that? "We all know we are guilty". Why bother with a justice system then. Those pesky romans and their legal system! What you or I think is right or wrong morally is not an issue. Morals are for those who believe in fairy tales. Fairy tales were constructed for children. The legal system is there to separate what is "legal" and what "is not legal. In this case "taxable" or "non taxable"(as Ian points out). In our case, the judges who are sitting are without question there as they are the most experienced and educated for that position. Should it be the case that they stick to legalities and facts they should rule in out favour. If however they decide "common sense" is now the rule of law, then clearly those pesky romans didn't know what they were doing.... Sanitation...Roads......Look on the bright side shall we???? Do do do do dooooo... 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,471 Posted February 23, 2017 Share Posted February 23, 2017 What??? What sort of statement is that? "We all know we are guilty". Why bother with a justice system then. Those pesky romans and their legal system! What you or I think is right or wrong morally is not an issue. Morals are for those who believe in fairy tales. Fairy tales were constructed for children. I think he was being sarcastic. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,471 Posted February 23, 2017 Share Posted February 23, 2017 The legal system is there to separate what is "legal" and what "is not legal. In this case "taxable" or "non taxable"(as Ian points out).In our case, the judges who are sitting are without question there as they are the most experienced and educated for that position. Should it be the case that they stick to legalities and facts they should rule in out favour. If however they decide "common sense" is now the rule of law, then clearly those pesky romans didn't know what they were doing.... There seemed to be a move from the Scottish judiciary to move to a "common sense" approach a couple of years ago but that seems now to be reversing shown in part by oldco winning their appeal. I've been involved in a totally unrelated case and we won with a common sense kind of argument, but lost on appeal as the judges set out to reverse the decision, even to the extent that the supposedly impartial judge started testifying herself when she felt that the opposing QC had missed something. As this is going to the supreme court, there may not be the same attitude and there may be more chance for English judges to adopt a slightly different approach. There's more chance in my relatively inexperienced view that the supreme court could find in HMRC's favour than had the case stayed in Scotland. 0 Quote Link to post Share on other sites More sharing options...
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