Celtic Tax Case update

[A.T.G 10,773]

Wait, tims using sexual content to cover up something this time?

Dont worry mate, the mods will sort out these tims once they are back from modding wanking

[Rupret 223]

All the start dates of these "directorships" are when each of the players, managers or directors were in current employment with Celtic football club.

If that is so, well done sir, I'm impressed, a big can of worms, have you informed HMRC?

[trueblueal 2,117]

All the start dates of these "directorships" are when each of the players, managers or directors were in current employment with Celtic football club.

Need to establish if the investments were part of their wage, if Celtic made any contributions. Need some emails or side letters!

[TheLawMan 6,240]

Is there anyone about with a bit of knowledge in this type of thing who can explain exactly what the op means?

Im less than clued up here.

Read the Daily Mail link on page 1. Essentially this was a tac loophole (like EBT's) used by higher rate taxpayers to reduce their tax liability. The idea was they invested in film companies and claimed tax relief on it meaning the take home pay was much greater that what it would have been for anyone not on these schemes.

Ive found another 2 now as well and im sure there are plenty more out there all tieing back to the Martin O Neil era.

[A.T.G 10,773]

As a concerned citizen and tax payer, I shall need to make some enquiries as to how to report to HMRC

[TheLawMan 6,240]

If that is so, well done sir, I'm impressed, a big can of worms, have you informed HMRC?

I havent no. I stumbled across the earlier post and i started to do some digging. Think i will dig all weekend and see where it ends up

[TheBluebells 6,898]

Read the Daily Mail link on page 1. Essentially this was a tac loophole (like EBT's) used by higher rate taxpayers to reduce their tax liability. The idea was they invested in film companies and claimed tax relief on it meaning the take home pay was much greater that what it would have been for anyone not on these schemes.

Ive found another 2 now as well and im sure there are plenty more out there all tieing back to the Martin O Neil era.

Get it now mate, great find, hope this can be taken further.

[A.T.G 10,773]

Read the Daily Mail link on page 1. Essentially this was a tac loophole (like EBT's) used by higher rate taxpayers to reduce their tax liability. The idea was they invested in film companies and claimed tax relief on it meaning the take home pay was much greater that what it would have been for anyone not on these schemes.

Ive found another 2 now as well and im sure there are plenty more out there all tieing back to the Martin O Neil era.

So the main question is, can this be traced back to the scum or the individuals

I want their club fucked up

[harry handsome 629]

Is there not a bob in line straight to the tax office.

There was one years ago and we have one here in OZ that you can report suspected fraud and tax evasion.

I would report them if I was in the UK.

[TheLawMan 6,240]

http://www.dailymail.co.uk/news/article-1250861/Stars-face-massive-payback-demands-HMRC-probes-2bn-film-tax-loophole.html

[bgally 452]

need to go to my pit now but i'll come back and read this tomorrow,great find by the op

[trueblueal 2,117]

So the main question is, can this be traced back to the scum or the individuals

I want their club fucked up

We need emails or evidence that say a lesser wage was offered but the club would pay into the tax scheme. Also if say a 3rd party put money in on the players behalf such as a very rich Irishman with a vested interest that would be interesting.

[mairydilk 22]

Sure, they may have avoided paying tax, but didnt they say that investing in film companies was a legal way of avoiding tax?

[Rupret 223]

I havent no. I stumbled across the earlier post and i started to do some digging. Think i will dig all weekend and see where it ends up

Got it, repped you, send it to the bawbag Daly, good work mate 2013 not looking rosey beads for them

[A.T.G 10,773]

Sure, they may have avoided paying tax, but didnt they say that investing in film companies was a legal way of avoiding tax?

And how would you feel if it was deemed illegal?

As happy as I would?

[TheLawMan 6,240]

Sure, they may have avoided paying tax, but didnt they say that investing in film companies was a legal way of avoiding tax?

EBT's were also a legal way of avoiding tax......and look how that turned out.

[TheBluebells 6,898]

EBT's were also a legal way of avoiding tax......and look how that turned out.

Beat me to it!

Guest count still rising, surprised a few new member tax experts haven't appeared yet.

[gersandy 594]

Bears den???

[elephants stoned 2,994]

Feni@n fanbhoys and ghests wont like this.

[Mr Struth 137]

Excellent work Aluko.

Bears. Plaster twitter with this.

[corkinator 611]

It's a different sort of scheme altogether.

Martin O'Neil would invest some of his wages in this film partnership, eg £50,000. Through some creative accounting, he gets to put on his tax return that he actually invested £500,000. He would claim 40% tax relief on that, and get a tax refund of £200,000. Out of that £50,000, £45,000 goes in fees to the fund manager, and £5,000 goes to the fund manager's daughter to record a youtube quality "film" on her Blackberry.

Sorry mate neg rep by accident, was scrolling down. I'll add one for you at you next post.

[Big Lorenzo 10]

"He without sin may cast the first stone" So there should be no input from Celtic on our condition and if this is true then it will be interesting what the media make of this. Good times!

[hemdale1873 167]

Celtic tax case is run by a timposter take everything on that site with a pinch of salt.

[WVB 2,560]

If it turns out to be true

Then Celtic and there half breed fans are fucking hypocrites

Whether its true or not, they are half breed hypocrites.

[jonbryce 63]

1338423766' post='1060087893']

Ok so say for instance a player spoke to a team and wanted 40k a week. And maybe the club could only afford 20k through official channels. Would it be possible that the club could make up the difference by investing in this scheme on behalf of the player? How would it work?

It doesn't work if company money is invested in the scheme. Celtic would pay the £40k per week in wages and deduct the correct amount of tax. The player/manager/whatever would put maybe £2k into this scheme, and get a tax refund on £20k of earnings.

There are schemes set up by the Chancellor to encourage people to invest in things that will create employment by giving out tax refunds to people that do it. If you genuinely invest your money in such a business, I have no problem with that, but these schemes abuse the relief. Th was another scheme doing the rounds that misused gift aid relief for charity donations, but the guy selling that scheme went to prison for it.

The schemes Martin O'Niel was involved in have already been shut down by HMRC, and Martin O'Neil will have received a large tax bill with penalties and interest. As Celtic paid the tax on that money, they won't be asked to pay anything. You can't pay EBT money into that sort of scheme, it has to be taxed earnings, otherwise you can't claim a refund of tax you haven't paid. Of course, that might not stop some people trying, and they will be in bigger trouble.