Billy Dodds explains his EBT Contribution

[Frankie 8,198]

Assume this is written by Billy Dodds:

 

http://www.heraldscotland.com/mobile/sport/football/i-refuse-to-believe-major-players-evaded-paying-millions-in-tax.17704904?_=c9471b9e3a53cdfefc539ecf81a80bf80de7028b

 

I want to address the revelation in Wednesday night's BBC Panorama programme that I was one of the people to receive money at Rangers through an employee benefit trust (EBT).

 

I feel that I have to defend myself and fight my corner because I have not done anything wrong. I have paid every bit of tax throughout my professional career, at every club, including Rangers.

 

The full story is that David Murray came to me and asked if I would receive a payment that was due to me, after tax, through the EBT trust. And I said that I would. It was money that was owing to me when I had six months left on my contract and I moved to Dundee United. After the tax was deducted, that money was put in the trust fund.

 

This was a single payment made when I was leaving the club. I did not receive any payments through the trust fund at any other point of my Rangers career. I don't know what other EBTs there were while I was at the club, and we never discussed them as players, although I refuse to believe that major players evaded millions of pounds in tax.

 

There was certainly no benefit to me from being paid this money through the trust fund. It was simply what I was due, the tax was deducted, and the club simply asked that they pay it to me through the fund. I had no issue with that and, of course, EBTs were legal at the time. It was Rangers who asked me to use the fund.

 

As a player, you're aware of all sorts of different schemes for putting your money into.

 

It's not that players are dodging tax, it's just that there are different avenues open to them to pay lower tax rates. There are schemes such as film partnerships that you could pay money into as an individual and so not pay higher tax rates. Image rights seem to be a more recent one that is popular in England.

 

There is nothing illegal in it, and the EBTs were the same. I want to stress that mine was simply a one-off payment, after tax, when I left the club, not some sort of remuneration scheme.

 

I never heard anything about side letters when I was at the club, not one person ever mentioned anything like that.

 

I've been in Spain golfing, so I've not yet seen the BBC programme, but I was shocked to hear that 87 players and staff were involved in the EBT scheme at Ibrox – but it should also be remembered that the trusts were not illegal.

 

People do have to understand that this wasn't players or staff trying to do something that would harm Rangers. And I do feel that it wasn't telling the full truth for the programme to bracket all the players and staff together if the EBTs were different for each of them.

 

All I can say is that in no way did I avoid paying tax, in no way was I paid wages or anything through an EBT over the course of my contract, and in no way was I aware of any side letters.

 

It amazes me that John Yorkston has the gall to talk about Rangers not paying their bills. He's a hypocrite, and he should start making sure that his club pay their bills instead. Jim McIntyre served a writ on Dunfermline on Thursday because he has still yet to receive his settlement after being sacked by the club last season.

 

The issue is with the court now, because Dunfermline said they cannot pay it in one instalment. Yet John Yorkston is in the press all the time talking about other clubs. He should be looking after the financial affairs of his own club.

[the gunslinger 3,366]

interesting stuff.

 

so that's one part of it that is due no tax.

[chilledbear 16]

I wonder if he would have defended Rangers and condemned Yorkston, if he hadn't been named.

[amms 0]

Hopefully, that's assuming we then paid it to HMRC of course. I've never understood how the club was liable for income tax and NI rather than the players who received the money. Did we not make the employers contributions? The only way it ever made sense to me was if the club had taken the income tax and ni off at source but then not paid that on. Otherwise surely the recipients are responsible for their own income tax and ni? If what Dodds' says is true it simply confuses me further. That in itself isn't difficult mind you.

[foggy dewhurst 0]

interesting

[andy steel 0]

Good to see Yorkston's hypocrisy over Jim McIntyre, as originally highlighted here on gersnet, is being noticed.

 

You gotta love the internet age.

[Danny 0]

Very interesting. First time a 'beneficiary' has spoken out. Wouldn't cooperate with Daly, but defends himself and the club against his accusations.

[metlika 0]

Very interesting. First time a 'beneficiary' has spoken out. Wouldn't cooperate with Daly, but defends himself and the club against his accusations.

 

Pretty sure Marvin Andrews came out like Thursday or Friday and said he would should his pay slips which showed tax in it.

[craig 5,199]

 

so that's one part of it that is due no tax.

 

So long as the tax deducted was indeed paid over to HMRC, Dodds wont know if that was the case or not. But I dont think SDM would have been "doing a Whyte" with HMRC monies.

[Crimson Dynamo 128]

It was interesting in yesterdays Daily Record article about Stefan Klos it stated that after 1999 the player would be responsible for paying his own taxes. Like Billy Dodds says in the above players have all sorts of options available to them. I would like to see the same level of scrutiny that is being directed at Rangers directed at some of the big clubs in the UK. I for 1 do not believe Rooney for example pays half his wages to the taxman.