GovanAllan 0 Posted February 4, 2013 Share Posted February 4, 2013 As the headline says all over twitter and the usual Timmy scum sites, also Timmy Thompson saying he was emailed by HMRC to say they will be appealing. Absolutely pointless exercise and you have to wonder what the reasoning is behind. 0 Quote Link to post Share on other sites More sharing options...
Guest Bazaar Posted February 4, 2013 Share Posted February 4, 2013 http://www.bbc.co.uk/news/uk-scotland-glasgow-west-21326039 HM Revenue and Customs (HMRC) has lodged an appealed against a tax tribunal ruling in favour of Rangers' use of Employee Benefit Trusts (EBTs). HMRC had claimed the scheme, which was used from 2001 to 2010 to make £47.65m in payments to players and staff in the form of tax-free loans, was illegal. Rangers disputed this and a First Tier Tax Tribunal (FTT) ruled the scheme did not breach tax law. The case will now be heard at a Second Tier Tax Tribunal (STT). HMRC said on Monday that it had been granted leave to appeal against the FTT decision and that the appeal had subsequently been filed. If the dispute is not settled at the STT, it is possible that it may go all the way to the Supreme Court - a process that could take years. The FTT, before three judges, concluded in January, by a majority of two to one, that the EBT payments were loans, not earnings, and so were not liable for income tax. CVA rejected Rangers began using the EBT scheme while under the control of Sir David Murray. He sold the club for £1 to Scottish businessman Craig Whyte in 2011, while the tax liability was in dispute. Rangers were subsequently forced into administration by HMRC in February 2012, over non-payment of tax totalling about £14m, while under Mr Whyte's control. HMRC subsequently rejected proposals for a creditors agreement that would have allowed the old Rangers to continue. Administrators Duff and Phelps then negotiated a sale of assets to a consortium led by Charles Green for £5.5m. He has since re-launched the club in the Scottish Third Division 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,182 Posted February 4, 2013 Share Posted February 4, 2013 Yes, looks like this will be happening over the coming months. 0 Quote Link to post Share on other sites More sharing options...
GovanAllan 0 Posted February 4, 2013 Author Share Posted February 4, 2013 Yes, looks like this will be happening over the coming months. Could take years Frankie for what, I'm sure I read each EBT case must be taken on its own merits so the precedent theory is out the window, it just looks like pure vindictiveness. 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,283 Posted February 4, 2013 Share Posted February 4, 2013 HMRC subsequently rejected proposals for a creditors agreement that would have allowed the old Rangers to continue. Administrators Duff and Phelps then negotiated a sale of assets to a consortium led by Charles Green for £5.5m. He has since re-launched the club in the Scottish Third Division Persistent liar McLaughlin at it again, hiding his signature - again. BTW, unless I am mistaken, the appeal would only be granted based on a point of law? Which "point of law" was deemed appealable then? Are there not restrictions placed on the possibility of appeals? Any legal brain here to clarify? 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,182 Posted February 4, 2013 Share Posted February 4, 2013 I'd imagine there will be dozens of such points, D_B. More fool HMRC for pursuing this given they'll be unable to secure any financial return but someone certainly thinks the issue is worth repeating. As a club and support we now need to move beyond it and not let it affect the new company's operations. 0 Quote Link to post Share on other sites More sharing options...
aweebluesoandso 290 Posted February 4, 2013 Share Posted February 4, 2013 Just more enjoyment when we win the appeal too. 0 Quote Link to post Share on other sites More sharing options...
JTP 0 Posted February 4, 2013 Share Posted February 4, 2013 That'll be us back to being Cheats again then. 0 Quote Link to post Share on other sites More sharing options...
Kenzie1 0 Posted February 4, 2013 Share Posted February 4, 2013 That'll be us back to being Cheats again then. Plus ca Change 0 Quote Link to post Share on other sites More sharing options...
simplythebest 0 Posted February 4, 2013 Share Posted February 4, 2013 Whyte may have had a point for once. 0 Quote Link to post Share on other sites More sharing options...
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