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How Players Can Help Us Re Ebts


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Many of our players are supporters who benefitted in the EBT years are supporters of our club I have no doubt.

EBTs are loans without a fixed repayment date but are laons nonetheless.

BDO are now appealing HMRCs judgement I understand with the support of David Murray.

So.....

If a couple of high profile EBT recipients or indeed DAavid Murray Himself were to write to Randgers... the dialoge might be as follows

1. Dear Mr King,

I wish re repay some of my EBT now. I wish to pay £100 per month for the next year and will then revisit the situation.

Yours Sincerely,

David Murray or Barry Ferguson or etc...

2. Dear Barry,

Many thanks for your offer and your captaincy of our great club. EBTs are now no longer the responsibility of our club but you may wish to communicate with BDO

Yours Sincerely

Dave King

3. Dear BDO

I wish re repay some of my EBT now. I wish to pay £100 per month for the next year and will then revisit the situation.

Yours Sincerely,

David Murray or Barry Ferguson or etc...

4. Dear Barry,

Many thanks for your repayment Barry. Please make a monthly cheque payable to BDO. This may help us establish that the EBTs were in fact Loans.

Unfortunately when all this is settled there will be no one else to pay but your repayment for the next year is valued.

Yours Sincerely,

BDO

Are you with me. If a single person repays a part of their EBT then it establishes the principle that they are indeed loans.

54 titles ... and still going strong!

Do it Barry!!!

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I've considered this previously.However, I don't think it can have much of an effect now.

Any penalty has to be lodged against oldco, anyway mate.

And, when you think about it, as the biggest recipient, receiving approximately £6m, David Murray could have saved his own neck and the Club from administration, had he thought about it.

Good point, though, albeit a little late.

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You dont have to pay for carrier bags mate...cos you were going to take them back!

EBTs were legal only if they were loans and HMRCs case is that they were not loans but payments. If one person repays a part of the loan then that reinforces their status as loans.

I realise not likely to happen... but if it were me... and I was also a supporter... Id do what I could...Just saying

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As much chance as the scum repaying their state aid.

Having said that the interpretation of EBTs as a loan confuses me. Loans ordinarily have lenders and repayment terms.

My understanding is that any individual who benefitted from an EBT is not liable for any unpaid tax (if the last verdict is upheld) but the company is.

But, what is the situation regarding repayment of the loan? Is it simply a case that the loan is a misnomer and no repayment ever was/is due?

Additionally, what do the terms of any agreement with the recipients say? All the risk appears to be with Rangers when the risk should have surely been shared with the recipients.

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