BDO lose BTC appeal

[craig 5,199]

As far as the rules of football are concerned it was "illegal" - against the rules and laws of the SFA/SPL.

 

Got ya. So not illegal in a legal sense. Only insofar as they didn't follow SPL/SFA rules - strangely enough..... we actually followed those rules appropriately whilst they didn't. Yet they try to hammer us whilst giving them free reign again.

[craig 5,199]

Poll: Should Rangers be stripped of their ‘EBT’ titles?

 

Read more at: http://www.scotsman.com/sport/football/teams/rangers/poll-should-rangers-be-stripped-of-their-ebt-titles-1-4496550

 

FFS!, running a poll!,this paper should be brought to task by the club!, ridiculous!

 

Clickbait - don't give them the pleasure. It is the only way they continue to operate.

 

It is easy money for them - they get the moonhowlers from all over on their site - and Bears come in to defend the titles. Easiest money they will see this month.

[cooponthewing 1,139]

Don't see why not?, if you can watch live games in the pub, obviously only the televised games!

 

Completely agree. I suspect under the circumstances ALL Bears will adhere to the boycott. They are at it again. Ffs dont give these bastards any of our money.

 

The games can be beamed to Ibrox or we can watch in pub or house. This is war now. We all know what's going on.

 

Let's be clear in this, they can't financially starve us out. Our support is magical and magnificent. We will rally round Ibrox and our team. We can sure as heck make them suffer financially by not attending there shiteholes. We done it for four years we can do it again. Give them no more of our hard earned cash to keep them going, Cut allocation for away fans to the bare minimum. If the scot squad don't like it then plod can ban them all together!!

 

Fuck the lot of them. No more blue pound and cut ties with every one of them that is complicit in attacking us.

[boabie 230]

Completely agree. I suspect under the circumstances ALL Bears will adhere to the boycott. They are at it again. Ffs dont give these bastards any of our money.

 

The games can be beamed to Ibrox or we can watch in pub or house. This is war now. We all know what's going on.

 

Let's be clear in this, they can't financially starve us out. Our support is magical and magnificent. We will rally round Ibrox and our team. We can sure as heck make them suffer financially by not attending there shiteholes. We done it for four years we can do it again. Give them no more of our hard earned cash to keep them going, Cut allocation for away fans to the bare minimum. If the scot squad don't like it then plod can ban them all together!!

 

Fuck the lot of them. No more blue pound and cut ties with every one of them that is complicit in attacking us.

 

Coop - I saw this day coming and swore when we went down that I'd never give any of those a clubs another ha'penny.

The bottom division wasn't enough for them. Stripping titles and the eventual disappearance of Rangers is what they want.

Any Rangers fan funding any of those clubs is .................. well rather than look for a ban I'll leave it at that.

[der Berliner 3,809]

On a sidenote, BDO wrote in a report from November 2014, that ...

 

The Big Tax case represents c£72m of the £94m claim submitted by HMRC in the Liquidation proceedings, and may therefore have a material impact on the dividend payble to unsecured creditors.

 

BDO reports here - https://www.bdo.co.uk/en-gb/rfc-2012-plc

 

A wee while back I collected all the EBT people's stuff from DR et al ...

 

THE LIST OF RANGERS EBT PAYMENTS

 

Staff

Alex McLeish, £1.7million: Managed Rangers from 2001-06

Andrew Dickson, £33,000: Head of football administration since 2003. Previously financial controller at Ibrox.

Bert Van Lingen, £65,000: Assistant manager under Dick Advocaat from 1998 to 2002.

Sir David Murray, £6.3million: Owned club from 1988-2011, during which Rangers lifted 15 titles and 26 cups. Sold shares to Craig Whyte for £1.

Dick Advocaat, £1.5million: Rangers manager from 1998-2002. Spent almost £74million to win five trophies, including two titles.

Douglas Odam, £119,000: Finance director for 15 years. Left in 2003 to take up a role within 
Sir David Murray’s business empire.

George Adams, £30,000: Head of youth development between 2003-05.

Graeme Souness, £30,000: Player-manager from 1986-91.

Ian McGuinness, £25,400: Club doctor sacked after Paul Le Guen left.

Jan Wouters, £285,000: Former Dutch midfielder joined as a coach under Dick Advocaat, then Alex McLeish. Left in 2006.

Joel Le Hir, £28,275: Paul Le Guen-appointed physiotherapist from 2006 to 2007.

John Greig £40,000: Played for club from 1961-78. Managed Rangers from 1978 to 1983. Later became a director.

John McClelland, £225,000: Appointed a director in 2000. Chairman from 2002 to 2004. Resigned last year.

Martin Bain, £249,000: Chief executive of Rangers from 2005 to 2011. Resigned after Murray sold club to Whyte.

Paul Le Guen, £201,250: French manager replaced Alex McLeish in 2006. Left in January 2007 after a string of poor results.

Yves Colleau, £106,200: Former French midfielder served as assistant to Le Guen at Rennes, Lyon and Rangers from 2006 to 2007.

Stephane Wiertelak, £28,275: French fitness-physiotherapy coach joined Rangers in 2006 under Le Guen.

 

10,672,125

 

High Profile Players

+ Alan Hutton, £364,000: Made debut in 2002 and played 94 games, before £9million move to Spurs.

+ Andrei Kanchelskis, £145,000: Russian winger arrived from Fiorentina in 1998 for £5.5million.

+ Arthur Numan, £510,000: Dutch full-back arrived at Rangers from PSV Eindhoven in 1998 for £4.5million. Played 118 times.

+ Barry Ferguson, £2.5million: Former youth player who became Rangers captain. Played at Ibrox from 1996-2003 and 2005-09.

+ Bert Konterman, £300,000: Dutch defender signed by Dick Advocaat for £4.5million in 2000.

+ Billy Dodds, £190,000: Arrived in a £1.5million deal from Dundee United in 1999.

+ Carlos Cuellar, £448,255: Spanish centre-half arrived from Osasuna in £2.37million deal in 2007. Moved to Aston Villa in 2008.

+ Christian Nerlinger, £1.8million: German midfielder signed from Borrusia Dortmund in 2001 and left in 2004.

+ Claudio Caniggia, £1million: Argentinian signed from Dundee for £1million in 2001.

+ Craig Moore, £1.1million: Australian centre-half played more than 90 games from 1994-98. Returned in 1999 and stayed until 2005.

+ Dado Prso, £1.9million: Croatian striker was free transfer in 2004. Left for Dinamo Zagreb in 2007.

+ Fernando Ricksen, £684,225: Dutch right-back signed in 2000 from AZ Alkmaar for £3.75million.

+ Gregory Vignal, £173,000: French defender joined on loan from Liverpool in 2004. Moved to Portsmouth in 2005.

+ Jean-Alain Boumsong, £630,000: French centre-half joined in 2004 on free transfer. Moved to for Newcastle for £8million.

+ Julien Rodriguez, £638,000: French centre-half signed from Monaco in 2005 for £1million. Left for Marseille in 2007.

+ Kris Boyd, £215,000: Signed from Kilmarnock in 2006 for £500,000. Left in 2010.

+ Lorenzo Amoruso, £639,000: Italian defender signed from Fiorentina for £4million in 1997. Moved to Blackburn Rovers for £1.4million in 2003.

+ Marvin Andrews, £316,025: Centre-half from Trinidad and Tobago joined from Livingston in 2004.

+ Michael Ball, £1.4million: Left-back signed from Everton in 2001 for £6.5million. Moved to PSV Eindhoven in 2005.

+ Michael Mols, £260,000: Dutch striker joined Rangers under Dick Advocaat. He arrived in 1999 and spent five years at Ibrox.

+ Mikel Arteta, £674,603: Spanish midfielder joined in 2002 and played 50 matches, scoring 12 goals. Moved to Everton.

+ Nacho Novo, £1.2million: Spanish striker joined in 2004 from Dundee for £450,000.

+ Neil McCann, £500,000: Winger joined from Hearts in 1998 for £2million.

Maurice Ross, £120,000: Played 78 games for Rangers from 2000 to 2005, before moving to Sheffield Wednesday.

+ Pedro Mendes, £1million: Portuguese midfielder joined in 2008 for £3million. Joined Vituria Guimares in 2010.

+ Peter Lovenkrands, £902,000: Danish winger arrived in 2000 from Akademisk Boldklub for £1.3million.

+ Ronald De Boer, £1.2million: Dutch midfielder joined in 2000 under Advocaat.

+ Sasa Papac, £319,000: Bosnian left-back arrived in 2006 from Austria Vienna for £450,000.

+ Sotirios Kyrgiakos £532,200: Greek centre-half signed from Panathinaikos in 2005.

+ Stefan Klos, £2million: German international keeper signed in 1999 for £800,000. Join Bayer Leverkusen in 2007.

+ Steven Davis, £600,000: Northern Ireland midfielder. Left for Southampton in the summer.

+ Steven Thompson, £485,000: Joined from Dundee United in 2003 for £200,000. Went to Cardiff City in 2006.

+ Thomas Buffel, £1.2million: Belgian midfielder joined in 2005 for £2.3million from Feyenoord.

+ Tore Andre Flo, £1.3million: Norwegian striker joined from Chelsea in 2000 for £12million. Sold for £6.75million to Sunderland in 2002.

+ Zurab Khizanishvili, £405,000: Georgian defender joined on a free transfer from Dundee in 2003. Moved to Blackburn Rovers in 2005.

 

27,650,308

 

Peripheral Players

+ Alex Rae, £569,000: Midfielder arrived at Ibrox in 2004 and spent two years there. Played 34 games.

+ Bob Malcolm, £125,000: Central defender started his career with Rangers in 1997. Played 88 games. Left for Derby County in 2006.

+ Chris Burke, £55,000: Started career at Rangers, playing 96 games from 2002 to 2009. Left for Cardiff City.

Dan Eggen, £68,000: Norwegian central defender signed in 2003 from Spanish club Alaves.

+ Egil Ostenstad, £370,000: Norwegian forward signed from Blackburn on free transfer in 2003.

+ Federico Nieto, £24,500: Argentine striker joined on loan deal in 2005 from Almagro. Scored once in three matches.

+ Gavin Rae, £376,000: Midfielder signed from Dundee in 2004 for a fee of £250,000. Moved to Cardiff in 2007.

+ Ian Murray, £95,000: Midfielder was free transfer from Hibernian in 2006. Left in 2007.

+ Jerome Bonnissel, £48,000: French left-back arrived in 2003 from Bordeaux.

+ Jesper Christiansen, £320,000: Danish goalkeeper signed in 2000 as injury cover.

+ Kevin Muscat, £1million: Australian defender joined from Wolves in 2002 on free transfer. Joined Millwall in 2003.

+ Libor Sionko, £178,000: Czech midfielder signed from Austria Vienna in 2006. Played 18 matches before signing Copenhagen in 2007.

+ Nuno Capucho, £970,000: Portuguese winger who arrived in 2003 for £700,000.

+ Olivier Bernard, £224,000: French defender arrived on a free transfer in 2005.

+ Paolo Vanoli, £592,000: Italian left-back joined from Bologna in 2003 and played in 28 matches.

Ronald Waterreus, £510,000: Dutch goalkeeper joined Rangers in 2004 from Manchester City.

+ Steven Smith, £7500: Defender came through youth ranks and made debut in 2004.

+ Tero Penttila, £140,000: Finnish defender joined in 1999 for £300,000 from Haka Valkeakoski. Left in 2002 to join HJK Helsinki.

 

5,672,000

 

Total: 43,994,433

 

+ Arveladze, Hemdani & Latapy

 

List

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-big-tax-case-who-6767682

 

Side letters

http://www.dailyrecord.co.uk/sport/football/football-news/rangers-ebts-players-what-secret-1736859

 

From 2001-10, Rangers put £47million in to up to 87 sub-trusts for players, coaches and staff.

Contributions were also made by Rangers’ parent company Murray International Holdings.

Rangers’ annual accounts from 2001-10 show the Glasgow club invested £47.659million in the Murray Group Remuneration Trust.

Contributions of at least £10million were made by MIH.

Funds were deposited by Rangers and MIH into the Jersey-based trust, which then divided it into sub-trusts in the form of tax-free loans.

In all 63 players, 24 staff and a further 24 Murray Group employees benefitted.

EBTs were operated by other UK companies, including English Premiership clubs.

The report stated there "was sufficient evidence" to show that all of the following were in receipt of side-letters.

 

Which leaves the question of how HMRC get to these numbers of 72m, if payments (sic!) were 47m. And I guess you don't get 100% tax on these 47m plus penalties and whatever?

[craig 5,199]

On a sidenote, BDO wrote in a report from November 2014, that ...

 

 

 

BDO reports here - https://www.bdo.co.uk/en-gb/rfc-2012-plc

 

A wee while back I collected all the EBT people's stuff from DR et al ...

 

 

 

Which leaves the question of how HMRC get to these numbers of 72m, if payments (sic!) were 47m. And I guess you don't get 100% tax on these 47m plus penalties and whatever?

 

The tax is likely to be at 40% in almost all cases. Penalties can be levied up to 100% of the tax too. You also have interest on both the tax and penalties.

 

At least that was the case when I last was working in the UK in a tax department.

[der Berliner 3,809]

The tax is likely to be at 40% in almost all cases. Penalties can be levied up to 100% of the tax too. You also have interest on both the tax and penalties.

 

At least that was the case when I last was working in the UK in a tax department.

 

So that's 18.8m (40% of the 47m) and another 18.8m (100% penalties) to a sum of 37.6m I doubt that interest on that gives you 72m, unless they charge a ridiculous rate?

[craig 5,199]

So that's 18.8m (40% of the 47m) and another 18.8m (100% penalties) to a sum of 37.6m I doubt that interest on that gives you 72m, unless they charge a ridiculous rate?

 

You would be surprised dB.

 

What you would have to remember is that they would charge interest on those liabilities from the time the payment was made into the EBT until such time as the liability is settled. Back in 2000 the interest rate was 8.5% and between 2000 and 2008 floated between 6% and 8%.

 

if there was 1 million tax due for 2000 then they would charge 8.5% on that for 2000, 2001, 2002, 2003, 2004, 2005...... 2017 - that would be 17 years worth of 8.5% which works out to be almost 150% tax - and that is non-compounded. I don't believe they compound the interest but BD would be in a better position than me to confirm - the last time I dealt with HMRC in a penalty and interest situation was back in 1999 - proud to say that I managed to get all penalties waived for my client.... sadly the liability itself meant he still went out of business.

 

And remember, that the above example would be the same for 2001 (would pay interest from 2001-2017) plus each and every other tax year - so you would be surprised just how that interest on tax liability can escalate the amount owed.

[der Berliner 3,809]

I would asume when they made their claim to BDO (72m) in 2012 (or the like), that was that? No further years added. Not that I know anything of that ...

[craig 5,199]

I would asume when they made their claim to BDO (72m) in 2012 (or the like), that was that? No further years added. Not that I know anything of that ...

 

Fair point. However, on just that one tax year you would still be looking at about 100% interest, and then looking at decreasing amounts for each of the subsequent tax years.

 

My experience of dealing with HMRC is that the tax liability isn't the killer, it is the interest and penalties that they levy on you. The tax CAN be a killer but in all honesty, if your business cant survive whilst paying the taxes legitimately due then you don't have a sound business model, or are in a business which isn't profitable.