Administrators think we (may) owe HMRC some 94m ... or 21m

[der Berliner 3,247]

Far from closed the act of liquidation will probably take years.

 

Was referring to the tax cases and the SPL thing.

 

BBC's back in full swing, presenting half-facts and half-truths as fact again. What a sad bunch.

 

The old Rangers Football Club owed more than £94m in unpaid tax and penalties, according to its administrators.

 

There is no "old Rangers FC" and it does not owe the 94m. This is a number used for statistics only. As is written. It could be 23m or 94m, but we do not know this yet.

 

Rangers was forced into administration by HM Revenue and Customs (HMRC) on 14 February over non-payment of tax totalling about £14m

 

Truth! I just had to read this again. (Though that press chap got the grammar wrong ... )

 

The majority of that figure relates to the old club's use of Employee Benefit Trusts (EBTs), on which HMRC claimed unpaid tax and penalties in excess of £49m.

 

"Old club" again ... but a correct figure.

 

Methinks quite a few of these scribblers are out to actively antagonize us while being screened by their bosses. I just hope Green & Co. act accordingly.

[simplythebest 0]

I can see the sentiment involved, but the reason is IMHO wrong. HMRC et al knew exactly what we did and if there was anything wrong with the EBTs, it was probably a technicality. A technicality that hundreds of other companies probably never encountered and still used EBTs to do what we did. (If we "did" anything "wrong" at the time.) 9 years after our first usage of EBTs they were ruled "illegal" and so be it. Up till then, as far as I see it, we did not willfully or purposefully do anything wrong that can be held against us. And I for one hope that this is being made clear this months - or those responsible make sure that our name stays untarnished.

 

We should always make it very clear that Rangers FC went into administration over the tax and insurance debt accumulated by Craig Whyte, those 18m listed above. Not a penny more.

 

And thanks to impartial reporting, this is what will go around the world as fact for the next day or two:

 

BBC Sportsound ‏@bbcsportsound

I get what you're saying but that sounds far too much like letting 'Sir' David Murray off the hook.

[andy steel 0]

Added to which is their natural laziness and stupidity, mate.

[forlanssister 3,050]

Doesn't effect us now mind, hopefully just some individuals of the past.

 

That remains to be seen.

[simplythebest 0]

That remains to be seen.

 

How could it effect us now? Apart from the title stripping issue of course.

[forlanssister 3,050]

Was referring to the tax cases and the SPL thing.

 

No guarantee either is near closure, if our tax appeal is upheld HMRC will appeal to the Upper Tier Tribunal and should the SPL remove any of our titles and Green stays true to his word any appeal may take years to travel through the various courts.

[forlanssister 3,050]

How could it effect us now? Apart from the title stripping issue of course.

 

It's not beyond the realms of possibility that Lord Hodge may not be satisfied to sign off administration and let the liquidation commence or the liquidation process itself may uncover something.

[simplythebest 0]

It's not beyond the realms of possibility that Lord Hodge may not be satisfied to sign off administration and let the liquidation commence or the liquidation process itself may uncover something.

 

So you can see this tax bill etc somehow coming back to us?

 

I realise there could be twists and turns in some of the admin stuff but i'm meaning Rangers FC as we are now.

[der Berliner 3,247]

I get what you're saying but that sounds far too much like letting 'Sir' David Murray off the hook.

 

Nope, this sounds like "people in the impartial media should get the facts right". We did not went into admin because of 134m of debt, as is being reported all over the planet. We went into admin because of one person driving us against the wall over 18m.

 

NB: From my understanding, the tax thing cannot come back to us in any other form than the "ghost of administration" and the wrongful claims as noted above.

[frost 0]

It's not beyond the realms of possibility that Lord Hodge may not be satisfied to sign off administration and let the liquidation commence or the liquidation process itself may uncover something.

 

Either Lord Hodge or the appointed liquidators could send everything back to the beginning, Lord Hodge if he feels that the administrators have been yanking his chain over conflicts, and the forensic liquidators if they decide that the administration has been less than transparent and realised less than achievable assets values.