What phil mcgobbler was allegedly told by Bain

[ian1964 10,409]

Borrowed from another forum

 

 

 

Exclusive June 7th 2010.

A few weeks ago I spoke with Rangers chief executive Martin Bain. He kindly took my call on a Saturday morning just after his ladââ?¬â?¢s football match. I told him that I was a freelance journalist commissioned to do a story for the News of the World. After exchanging some jokes about the perils of being, as I termed it, ââ?¬Å?a maddie at your boyââ?¬â?¢s fitba matchââ?¬Â I had to tell Martin Bain some bad news.

I informed him that this journalist already knew that Rangers had received a bill from the taxman for �£24 million and that interest of �£12million had been nailed onto that amount.

Over the previous two weeks the News of the World had firstly broken the story that all SPL clubs were being investigated by Her Majesty�s Revenue and Customs (HMRC) as part of an ongoing tax probe. The real story, however, was revealed the following Sunday in that the old firm, conjoined twins in so many areas, had very different tax policies.

For the last decade, Rangers had been making a systematic use of Employee Benefit Trusts (EBTs).

Celtic looked at this method of being ââ?¬Å?tax efficientââ?¬Â in 2006, but Celtic Chairman, ex of the Bank of England, Brian Quinn thought better of it.

Initially Martin Bain said to me that, effectively, the tax issue belonged to the parent company of Rangers; Murray International Holdings (MIH).

He told me that there was no tax bill at Rangers.

After going round the houses with Martin Bain on the phone we nailed down that there had been ââ?¬Å?an assessmentââ?¬Â delivered by HMRC to Rangers FC. Most people would call that a bill.

The ââ?¬Å?assessmentââ?¬Â formally becomes a bill when the tribunal system is exhausted, the amount on the ââ?¬Å?assessmentââ?¬Â then ââ?¬Å?crystallisesââ?¬Â.

That is when the money is due to be paid.

The tax authorities have sent a bit of paper to Rangers and that piece of paper has a number on it.

That amount is �£24 million + �£12million interest.

That �£36 million is greater than the clubâ��s well publicised bank debt.

After my interview with Bain the story was out there and perhaps because of this the club Chairman Alistair Johnston went public and clarified the position on the tax probe.

The Ohio based businessman confirmed that the assessment from HMRC was indeed ââ?¬Å? a Rangers issue, but it is being masterminded by the Murray Groupââ?¬â?¢s financial and legal advisors,ââ?¬Â said Johnston.

The only question to be answered was what tax penalty would be imposed on Rangers by HMRC should they lose the case?

What has not been previously revealed is that Rangers football club have already been served with a tax penalty of Ã?£15 million by HMRC for their sustained use of ââ?¬Å?Employee Benefit Trustsââ?¬Â (EBT) to players and other senior employees.

This brings the total confirmed amount that HMRC are seeking from Rangers to �£51 million.

This Ã?£51 million bill has yet to ââ?¬Å?crystalliseââ?¬Â, i.e the tax tribunal due process has yet to reach its conclusion.

Rangers can drag out this process by using all the appeals available to them.

However this will incur huge legal bills should they decide to do this.

The figure of �£15 million for the penalty is an indication of the seriousness with which HMRC view this case and their determination to see it through to a successful conclusion.

The recent press interest investigation has clearly rattled the Scottish Premier League champions with the club�s chief executive refusing to answer whether or not Rangers had ignored expert tax advice to abandon their tax strategy?

I also put the following question to Martin Bain:

- ââ?¬Å?Did Sir David Murray or other Rangers executives benefit from this scheme?ââ?¬Â

Bain confirmed that ââ?¬Å?employees of the trustââ?¬Â were paid through the EBT.

I asked him if that included people at the club other than players.

He confirmed that it was not just players.

I then asked him if he had been paid through the EBT.

ââ?¬Å?Thatââ?¬â?¢s a matter for the tax office and my own personal contract so Iââ?¬â?¢d rather not go into that.ââ?¬Â

Of course a simple denial would have killed that particular part of the story.

When I put it to Bain that his answer was in fact a ââ?¬Å?no commentââ?¬Â he didnââ?¬â?¢t disagree with my characterisation of his answer.

Here is what has been confirmed at this time:

- Rangers have confirmed that there is a tax probe

- Rangers have used EBTs. This will have helped millionaire players pay lower tax rates than most Rangers� fans.

- Chief Executive ââ?¬Ë?Martin Bain has confirmed to this journalist that the bill for core amount has been received.

Initially Bain told this journalist that the EBT was a matter for parent company Murray International Holdings (MIH). However, after the article was published chairman Alistair Johnston confirmed that the HMRC issue was, indeed, a matter for Rangers.

ââ?¬Å?It is a Rangers issue, but it is being masterminded by the Murray Groupââ?¬â?¢s financial and legal advisors,ââ?¬Â revealed Johnston.

When I interviewed Martin Bain he suggested that I speak to MIH financial director Mike McGill.

I called McGill on the Monday after I had spoken to Bain. I spoke briefly with McGill. He told me that he had read the NOTW story and, subsequently, refused to speak to me.

The day after I spoke to the MIH financial director I received further news that shocked me.

What moves this story on is the following information.

I did not know at the time of my interview with Martin Bain that Rangers had already been served with the tax penalty.

The amount of that penalty is �£15 million.

Therefore the full amount that Rangers will be due, should they lose this case against HMRC, will be �£51 million.

It is clear that those in charge of Rangers did not wish this story to break.

Since I started writing on Rangers taxing problems the club�s public comments have confirmed my journalism to be accurate.

The initial stories were met with disbelief from both sides in Glasgow�s football feud thinking that this news was either too awful or too wonderful to be true.

It is true and it will not go away.

The Scottish champion�s problems with HMRC will be the dominant story out of Ibrox in the next 12 months.

The club�s bank debt is serviceable. The tax bill is not. It�s a game changer.

Martin Bain, as much as one can ascertain over a 15 minutes phone call on a Saturday morning, came across as a really really decent bloke in a difficult position.

Iââ?¬â?¢m sure he cringed when he heard the ââ?¬Å?Famine songââ?¬Â or saw Manchester policemen kicked to the ground by feral louts in Rangers shirts.

The Ranger�s Chief Executive told me that wee Bain�s team had lost 4-1.

I told Martin to tell his lad to keep his chin up, because you usually find out more about yourself when you lose than when you win.

His dad agreed with me..

Watch this space.

[maineflyer 0]

Not one word that comes out of that rhat's mouth or from his pen should be given even a shred of credibility. He will fabricate anything to bolster his hatred for Rangers and has done so on many occasions. This is NOT a journalist, this is a rabid taig, end of.

[maineflyer 0]

Does this help to put the lying little scrote's claims into perspective.............

 

 

 

Dear Mr *****

 

Thank you for taking the time and trouble to write to our Chief Executive Martin Bain who has asked me to reply on his behalf with regard to the journalist Phil Mac Giolla Bhain.

 

We are aware of this journalist and the contemptible nonsense he writes regarding Rangers Football Club and his ravings are subject to scrutiny by our legal advisors. Please also note the journalist in question is not an accredited journalist at Ibrox Stadium and any action we took would be as a consequence of legal scrutiny and advice received.

 

Thank you for your email and for your continued support of Rangers Football Club.

 

Yours sincerely

 

Carol Patton

Rangers Press Office

[Stimpy 0]

Why would Bain talk to an unknown journo?

 

How could this twat possibly obtain Bain's number?

 

Why is he the only one really 'investigating' our tax problem when major media outlets such as SSN don't report it at the present time?

 

There's no doubting we could have a tax bill to pay, and I might be burying my head in the sand, but I'll call this bullshit since the source would only ever write shit that would interest the lowest common denominator of football fan.

Edited January 25, 2011 by Stimpy

[Zappa 0]

Some people will write anything for hits on their website. This particular insect would fit perfcectly into some of our nation's press offices which are half full of liars with no journalistic integrity whatsoever. That's why you get so many articles without quotes and no writers name put to penning the nonsense.

[pete 2,499]

I am afraid I don't really believe much of what is coming out of Ibrox at the moment mainflier and there is certainly something going on with tax issue's. Rangers have admitted to that. Once the tax people get their teeth into you then they don't often let go and they normally are proven correct. (Look at Dave King) Whether the Journalist is a Rangers hater or not, it looks like a case of there being no smoke without fire. I fear for Rangers FC at this moment and not only from what is printed in this story but from what is happening in the realms of Ibrox. Too much of what is going on looks to give the story some credibility. I know we must not jump to conclusions but so much that is happening at Ibrox just does not add up.

[metlika 0]

What Mcgobble giver is writing about our club is slander and he should be pursued legally. Why would we give such information to a detestable scrote as his writings are purely hateful against us.

 

Pete how would a supposed journalist I use that term loosely, more like a angry/hateful and dare I saw bigoted man, get such figures?

[chilledbear 16]

If Rangers kept the Support informed [as much as they can]. Scum like this would have less air to fly their kites.

[maineflyer 0]

I am afraid I don't really believe much of what is coming out of Ibrox at the moment mainflier and there is certainly something going on with tax issue's. Rangers have admitted to that. Once the tax people get their teeth into you then they don't often let go and they normally are proven correct. (Look at Dave King) Whether the Journalist is a Rangers hater or not, it looks like a case of there being no smoke without fire. I fear for Rangers FC at this moment and not only from what is printed in this story but from what is happening in the realms of Ibrox. Too much of what is going on looks to give the story some credibility. I know we must not jump to conclusions but so much that is happening at Ibrox just does not add up.

that's not really the issue here though. I agree that we probably do have a severe tax problem and that it could well sink us for a long time to come. But if McGillivan turns out to be right it won't be because he knows one thing more than you or me. He's speculating in order to big himself up in the bheast community and to have a pop at Rangers. And he's doing it by heaping lies on innuendo. That's what pisses me off, not that he might end up being right.

[Zappa 0]

HMRC supposedly have a terrible record when it comes to converting these EBT cases into legal victories.

 

Pete, the downsizing at the club is most likely just down to us trying to live within our means rather than outwith them. We can't afford to keep creating debt and having to service the interest on it. It's essentially like 'throwing money down the toilet' or making a big pile of bank notes and setting fire to them. The less debt we have to service, the more money we have to play with year in, year out. Simples!