Club 1872 Statement on ‘Big Tax Case’ Verdict

[aweebluesoandso 290]

Looking forward to this going to the Court Of Session, let's hear the agenda from celtic and discredit them through the five way agreement and their history of sordid dealings.

[trublusince1982 243]

Would usually agree with the use of child abuse as a counter being unacceptable but now it's gloves off time. Hypocrisy will be pointed out as loudly and as clearly as possible. In all honesty it's a bit of a disgrace we have all been as quiet on the issue as we have been. It's unacceptable beyond belief, no longer should we accept the sweeping of issues under the carpet.

[der Berliner 3,716]

BDO aren't going to pay the tax on the EBT Rab. The crytalised income in the liquidation process is nowhere near the tax liability so they will pay pennies in the pound of that tax. However, that makes it no different, in practicality, to those other clubs such as Hearts or Dundee (twice) who went into administration. They went into administration because their liabilities were greater than their assets and they couldn't pay those liabilities - our situation is EXACTLY the same.

 

The tax due is still a significant amount - BDO said 72 million I believe - there is no way the income going to creditors will be that high.

 

HMRC lodged a claim of 90odd million with BDO, of which 72m where said to be the BTC. How they got to these numbers is anyone's guess, as we discussed previously.

[pete 2,499]

Would usually agree with the use of child abuse as a counter being unacceptable but now it's gloves off time. Hypocrisy will be pointed out as loudly and as clearly as possible. In all honesty it's a bit of a disgrace we have all been as quiet on the issue as we have been. It's unacceptable beyond belief, no longer should we accept the sweeping of issues under the carpet.

That is my feelings now as well. It is time to fight fire with fire. The daggers are out their sheaths so no point in throwing tissues at them.

[pete 2,499]

HMRC lodged a claim of 90odd million with BDO, of which 72m where said to be the BTC. How they got to these numbers is anyone's guess, as we discussed previously.

 

If I remember right the original claim was for 45mill and then they added penalties.

[RANGERRAB 3,612]

How can HMRC add penalties for something they only learned last Wednesday they were entitled to

[der Berliner 3,716]

How can HMRC add penalties for something they only learned last Wednesday they were entitled to

 

It was the claim they lodged with BDO in 2014 or the like, at least November 14 is the first time BDO names the numbers in their reports. The DR reported with rather exact numbers of all the EBT beneficaries (who received side letters) and it amounted to 47m. What HMRC claim is the tax (!) on that plus penalties plus interest or the like. Dunno how the tax et all ended up at 72m, but I guess BDO get the exact figures.

Edited July 8, 2017 by der Berliner

[pete 2,499]

How can HMRC add penalties for something they only learned last Wednesday they were entitled to

 

The penalties were added to the original tax bill.

[BrahimHemdani 1]

F

BDO aren't going to pay the tax on the EBT Rab. The crytalised income in the liquidation process is nowhere near the tax liability so they will pay pennies in the pound of that tax. However, that makes it no different, in practicality, to those other clubs such as Hearts or Dundee (twice) who went into administration. They went into administration because their liabilities were greater than their assets and they couldn't pay those liabilities - our situation is EXACTLY the same.

 

The tax due is still a significant amount - BDO said 72 million I believe - there is no way the income going to creditors will be that high.

 

Sadly what it does mean is that the remaining creditors, many of them small businesses, will get less.

[RANGERRAB 3,612]

The penalties were added to the original tax bill.

 

I think that original tax bill may get disputed by BDO now