Redstarrob
Player Valuation: £2.5m
Rangers formed a new company called sevco and celtic done the same a few years ago called pacific shelf
RANGERS
- Thread starter larbert toffee
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Redstarrob
Player Valuation: £2.5m
Will do mate, friday night should be good too
davek
Player Valuation: £150m
No compassion and not answering questions as usual quite pathetic response to a serious plight , I just hope all of those concerned with the small businesses still owed money by Rangers have had a decent Christmas
Was that before or after you searched for 'face painter made homeless by Rangers'
Cork Evertonian
Player Valuation: £50m
Oh yes the face painter and the 40 pounds they were owed.Well they must have been in dire straights indeed, if being 40 pounds out of pocket, was enough to put them out on the street.lol But yes there was money owed, and it wasn't paid.I see that they owed 70 pounds to a florist as well.
Cork Evertonian
Player Valuation: £50m
66 Absent friends never forgotten.Lest we forget.
New Year Bells had been ringing, All of Scotland was singing, The old year had died, And the new had been born. As the news of disaster From Ibrox came spreading, The news that would cause A whole nation to mourn Two great goals had been scored, In the last dying moments. Jimmy Johnstone for Celtic, For Rangers’ young Stein.
Their supporters all cheered them, With voices of thunder, Unknowing what waited on staircase 13 66 people died Some in flower of their manhood, When the fences gave way And the barriers bent, Seasoned Glasgow policemen their faces all tear stained, With brave efforts, endeavoured far worse to prevent. All of Glasgow enjoined, For the first time in history. In the Glasgow cathedral no Billys, no Dans But the Old Firm united to pray for their victims, Of a tragedy set in the memory of man.
New Year Bells had been ringing, All of Scotland was singing, The old year had died, And the new had been born. As the news of disaster From Ibrox came spreading, The news that would cause A whole nation to mourn.
New Year Bells had been ringing, All of Scotland was singing, The old year had died, And the new had been born. As the news of disaster From Ibrox came spreading, The news that would cause A whole nation to mourn Two great goals had been scored, In the last dying moments. Jimmy Johnstone for Celtic, For Rangers’ young Stein.
Their supporters all cheered them, With voices of thunder, Unknowing what waited on staircase 13 66 people died Some in flower of their manhood, When the fences gave way And the barriers bent, Seasoned Glasgow policemen their faces all tear stained, With brave efforts, endeavoured far worse to prevent. All of Glasgow enjoined, For the first time in history. In the Glasgow cathedral no Billys, no Dans But the Old Firm united to pray for their victims, Of a tragedy set in the memory of man.
New Year Bells had been ringing, All of Scotland was singing, The old year had died, And the new had been born. As the news of disaster From Ibrox came spreading, The news that would cause A whole nation to mourn.
Exactly what we've come to expect from Corky, a laughing emoji when we are talking about people left in debt by the club you support, instead of being embarrassed he wears it like a badge. It doesn't matter whether it's a pound or a million pound owing money is immoral and newco Rangers thoroughly deserved to start from Scotland's bottom rung.
Cork Evertonian
Player Valuation: £50m
I felt it wasn't fitting to reply to this yesterday.With it being a day of remembrance.But it's an unjust world isn't it?All the billions that were spent bailing out the banks, with people starving to death in third world countries.
You haven't replied to it though, that is just an absolute load of tosh you're spouting. Remembrance? your crocodile tears fool nobody.
Bluerover
Player Valuation: £60m
A bit more than £40......
http://www.heraldscotland.com/news/...__72m_owed_in_Rangers_tax_case_has_been_paid/
Not a penny of £72m owed in Rangers tax case has been paid
THE taxman has not received a single penny of the £72 million in unpaid tax and interest believed to be owed by the liquidated company that owned Rangers FC.
While payments are being made to creditors, no money has yet been paid into the bank accounts of HMRC – six months on from a landmark legal victory over the Ibrox club’s use of loans to pay staff in a tax avoidance scheme.
According to the latest liquidation update, law firms acting for various parties in the tax dispute have been paid around £9.2million, while the rolling bill for BDO, the liquidators, stands at £3.4million.
It has also emerged that BDO has set aside nearly £3 million in case they lose an on-off claim over the shrinking insolvency funds of the former Rangers company, now known RFC 2012 plc and commonly dubbed ‘Oldco’.
BDO have agreed to pay an interim dividend of nearly 4p in the pound to unsecured creditors, distributing more than £1.3 million, but it has emerged that has not included any payment to cover the amount owed to the taxman after HMRC's winning the so-called Big Tax Case over the club’s use of Employee Benefit Trusts (EBT) to pay players and staff.
More than £47 million was paid to Rangers players, managers and directors in the EBT scheme between 2001 and 2010 in tax-free loans.
Two tribunals in 2012 and 2014 had previously supported the Rangers argument that the EBT payments were loans and therefore not taxable, but the Court of Session found in favour of HMRC after an appeal in 2015.
Liquidators BDO were then allowed to appeal to the Supreme Court in London and in July, HMRC successfully argued that the payments were earnings and should be taxable.
Liquidators had previously indicated that £72m of the £94.4m owed to HRMC relied on the taxman’s claim that Rangers Oldco was liable for its use of EBTs.
But it is understood that BDO has noted nearly half of the HMRC claim relates to interest and penalties accrued over the years.
BDO is now to enter into discussions with the taxman over the amount of the claim being made, it is understood, with a view to having it reduced.
Meanwhile, it is understood that Rangers FC Group – the company formerly known as Wavetower that was founded by former owner Craig Whyte – which aimed to secure a £14 million liquidation pot has decided to make a £2.8 million claim.
On December 15, the latest stage of the claim emerged. It is understood BDO successfully moved to get litigants to have to post £25,000 to cover any costs that might go against them.
It is understood the amount of the claim now relates to the difference between the amount raised by Mr Whyte’s deal to sell off rights to three years of future season tickets to investment firm Ticketus to help buy the club and the sum used to repay the club’s debt with Lloyds.
The collapse of the Rangers business left thousands of unsecured creditors out of pocket including more than 6000 loyal fans who bought £7.7m worth of debenture seats at Ibrox.
Creditors ranged from giants such as Coca-Cola to a picture framer in Bearsdenand a lady called Susan Thomson who runs a face-painting business and was owed £40.
If BDO lose the case, the Rangers FC Group claim would rank ahead of unsecured creditors and reduce the amount they get back.
One small creditor said: “I am amazed it has taken this long to get to the point where some money is being received but it sounds like with other issues with HMRC and the legal claim that we might have a longer wait for anything else.”
A judgement by Lord Doherty last year put off any decision on the rights and wrongs of the Rangers FC Group claim until after the fraud trial.
He said: “I am satisfied that (i) whether there was a fraudulent scheme involving [Wavetower], and (ii) whether [Wavetower] was the recipient of unlawful financial assistance.. are both issues which arise in the proceedings. In those circumstances hearing the appeal before the criminal proceedings have been concluded would trespass upon matters at issue before the High Court of Justiciary, with the risk of prejudice to the administration of justice in those proceedings.”
HMRC declined to comment.
http://www.heraldscotland.com/news/...__72m_owed_in_Rangers_tax_case_has_been_paid/
Not a penny of £72m owed in Rangers tax case has been paid
THE taxman has not received a single penny of the £72 million in unpaid tax and interest believed to be owed by the liquidated company that owned Rangers FC.
While payments are being made to creditors, no money has yet been paid into the bank accounts of HMRC – six months on from a landmark legal victory over the Ibrox club’s use of loans to pay staff in a tax avoidance scheme.
According to the latest liquidation update, law firms acting for various parties in the tax dispute have been paid around £9.2million, while the rolling bill for BDO, the liquidators, stands at £3.4million.
It has also emerged that BDO has set aside nearly £3 million in case they lose an on-off claim over the shrinking insolvency funds of the former Rangers company, now known RFC 2012 plc and commonly dubbed ‘Oldco’.
BDO have agreed to pay an interim dividend of nearly 4p in the pound to unsecured creditors, distributing more than £1.3 million, but it has emerged that has not included any payment to cover the amount owed to the taxman after HMRC's winning the so-called Big Tax Case over the club’s use of Employee Benefit Trusts (EBT) to pay players and staff.
More than £47 million was paid to Rangers players, managers and directors in the EBT scheme between 2001 and 2010 in tax-free loans.
Two tribunals in 2012 and 2014 had previously supported the Rangers argument that the EBT payments were loans and therefore not taxable, but the Court of Session found in favour of HMRC after an appeal in 2015.
Liquidators BDO were then allowed to appeal to the Supreme Court in London and in July, HMRC successfully argued that the payments were earnings and should be taxable.
Liquidators had previously indicated that £72m of the £94.4m owed to HRMC relied on the taxman’s claim that Rangers Oldco was liable for its use of EBTs.
But it is understood that BDO has noted nearly half of the HMRC claim relates to interest and penalties accrued over the years.
BDO is now to enter into discussions with the taxman over the amount of the claim being made, it is understood, with a view to having it reduced.
Meanwhile, it is understood that Rangers FC Group – the company formerly known as Wavetower that was founded by former owner Craig Whyte – which aimed to secure a £14 million liquidation pot has decided to make a £2.8 million claim.
On December 15, the latest stage of the claim emerged. It is understood BDO successfully moved to get litigants to have to post £25,000 to cover any costs that might go against them.
It is understood the amount of the claim now relates to the difference between the amount raised by Mr Whyte’s deal to sell off rights to three years of future season tickets to investment firm Ticketus to help buy the club and the sum used to repay the club’s debt with Lloyds.
The collapse of the Rangers business left thousands of unsecured creditors out of pocket including more than 6000 loyal fans who bought £7.7m worth of debenture seats at Ibrox.
Creditors ranged from giants such as Coca-Cola to a picture framer in Bearsdenand a lady called Susan Thomson who runs a face-painting business and was owed £40.
If BDO lose the case, the Rangers FC Group claim would rank ahead of unsecured creditors and reduce the amount they get back.
One small creditor said: “I am amazed it has taken this long to get to the point where some money is being received but it sounds like with other issues with HMRC and the legal claim that we might have a longer wait for anything else.”
A judgement by Lord Doherty last year put off any decision on the rights and wrongs of the Rangers FC Group claim until after the fraud trial.
He said: “I am satisfied that (i) whether there was a fraudulent scheme involving [Wavetower], and (ii) whether [Wavetower] was the recipient of unlawful financial assistance.. are both issues which arise in the proceedings. In those circumstances hearing the appeal before the criminal proceedings have been concluded would trespass upon matters at issue before the High Court of Justiciary, with the risk of prejudice to the administration of justice in those proceedings.”
HMRC declined to comment.
Cork Evertonian
Player Valuation: £50m
Good move bringing in Jimmy Nicholl as Murtys assistant.A great footballing man is Jimmy.He won a league cup as Raith Rovers manager.He was assistant manager at Kilmarnock when they won the league cup.He was the Northern Ireland assistant manager at Euro 2016 as well.He won an FA cup medal at Man United as a player, and two league title medals with Rangers in the 80's.Hopefully Murty and Nicholl will be the dream team, that will bring the good times back to Govan.
Yes dream move for Jimmy at this time of his career,he must be really proud at 61 being plucked from Falkirk assistant manager, Rangers' must be proud of this revolutionary signing what a fantastic scoop .
Cork Evertonian
Player Valuation: £50m
Ha ha ha no sour grapes at all from Falkirks end.Jimmy dumped them like a piping hot potato.
Ha ha ha no sour grapes at all from Falkirks end.Jimmy dumped them like a piping hot potato.
I couldn't have got a bigger bite had I actually posted a hot potato on herelol you never fail me Corky , I am just amazed it took you so long but thanks you always make my day.
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