Craigie79 67 Posted June 16, 2011 Share Posted June 16, 2011 Problem is nobody here is "in the know" its all opinions,guesswork and interpretations.The time for Whyte to speak out about it is when the tax case is over not before. Quote Link to post Share on other sites More sharing options...
Martin Luther 53 Posted June 16, 2011 Share Posted June 16, 2011 Right come on own up Whos fhill MacCrackpots Ibrox insider ? Quote Link to post Share on other sites More sharing options...
RFC55 108,733 Posted June 16, 2011 Share Posted June 16, 2011 I suspect me and you will be paying any tax liability. but it has to be said he hasn't said that either.This is the shite im on about! Why make the comment when you dont know either way FFS Quote Link to post Share on other sites More sharing options...
Guardian 4,281 Posted June 16, 2011 Share Posted June 16, 2011 Of all the stuff and nonsense thats written on the internet, then this is the bit thats very clear to me. If we get hit with a bill the size of which has been muted, then Craig Whyte will not be paying a penny of anything.In fact, he will get all his pennies, with the exception of his pound, back.It is my opinion that Craig Whyte has no intention of dealing with the tax bill and i think the clauses he has written in make that very clear.You are 100% right though to say they are not his fault.Possibly true, but assuming it was, how are we any worse off than before. ?We have now got rid of Lloyds, money is being invested in the team, players are being retained instead of pissing off for nothing.Any tax bill liability was there before Whyte, so Rangers would have to deal with it anyway, however it is extremely unlikely Rangers will face a big bill, if anything at all from this. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 16, 2011 Share Posted June 16, 2011 This is the shite im on about! Why make the comment when you dont know either way FFSbecause booler said whyte had accepted he would pay it which he hadn't. Quote Link to post Share on other sites More sharing options...
Jimfanciesthedude 24,506 Posted June 16, 2011 Share Posted June 16, 2011 whyte has HMRC over a barrel here, basically he is telling HMRC"if you do somehow win this case and hit us with a sizeable bill then get it up ye's, you'll be lucky for 10% of it back when the club goes into administration"HMRC cannot win properly here, they lose the case, they get nothing, they win the case they then have to either give us a massively reduced bill that cannot force us into administration or they can chance their arm with the full bill but get 10p in the pound when whyte puts the club into administration and he gets his cash back first Quote Link to post Share on other sites More sharing options...
TheBluebells 6,898 Posted June 16, 2011 Share Posted June 16, 2011 When will we find out the result of this HMRC case? I just want to know for the sake of all of us and the club, it is a nagging issue for us all. Quote Link to post Share on other sites More sharing options...
Jimfanciesthedude 24,506 Posted June 16, 2011 Share Posted June 16, 2011 When will we find out the result of this HMRC case? I just want to know for the sake of all of us and the club, it is a nagging issue for us all.we lost it about 4 months ago according to timmy propeganda administration will happen within days, the signing stories in the papers are just a distraction oh and nice to meet you, my name is spangles Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted June 16, 2011 Share Posted June 16, 2011 When will we find out the result of this HMRC case? I just want to know for the sake of all of us and the club, it is a nagging issue for us all.A week ago last Mayday, the 32nd of Wednesday. I think. Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted June 16, 2011 Share Posted June 16, 2011 administration will happen within days, the signing stories in the papers are just a distraction I understand now - that's why the Whyte takeover will never happen. Quote Link to post Share on other sites More sharing options...
TheBluebells 6,898 Posted June 16, 2011 Share Posted June 16, 2011 Cheers guys, and hey Spangles Quote Link to post Share on other sites More sharing options...
Jimfanciesthedude 24,506 Posted June 16, 2011 Share Posted June 16, 2011 I understand now - that's why the Whyte takeover will never happen. it didnt, SDM is still in charge, whyte is one of his puppets Quote Link to post Share on other sites More sharing options...
Right_To_Censor 1,951 Posted June 16, 2011 Share Posted June 16, 2011 oh and nice to meet you, my name is spangles you lying bastard, you told me your name was coco and you were from the moon Quote Link to post Share on other sites More sharing options...
Jimfanciesthedude 24,506 Posted June 16, 2011 Share Posted June 16, 2011 you lying bastard, you told me your name was coco and you were from the moonyeah, and surely when posting as spangles you MUST have realised i was fucking tuned to the moon Quote Link to post Share on other sites More sharing options...
PeterheadBear 1 Posted June 16, 2011 Share Posted June 16, 2011 whyte has HMRC over a barrel here, basically he is telling HMRC"if you do somehow win this case and hit us with a sizeable bill then get it up ye's, you'll be lucky for 10% of it back when the club goes into administration"HMRC cannot win properly here, they lose the case, they get nothing, they win the case they then have to either give us a massively reduced bill that cannot force us into administration or they can chance their arm with the full bill but get 10p in the pound when whyte puts the club into administration and he gets his cash back firstIsn't that undervaluing the assets the club has, that HMRC could look to liquidate in order to pay any bill?Whyte would get his £18mill but there'd be quite a bit left over surely? Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 16, 2011 Share Posted June 16, 2011 whyte has HMRC over a barrel here, basically he is telling HMRC"if you do somehow win this case and hit us with a sizeable bill then get it up ye's, you'll be lucky for 10% of it back when the club goes into administration"HMRC cannot win properly here, they lose the case, they get nothing, they win the case they then have to either give us a massively reduced bill that cannot force us into administration or they can chance their arm with the full bill but get 10p in the pound when whyte puts the club into administration and he gets his cash back firsthmmmma 20 million bill will not allow us to enter liquidation and a win will allow hmrc to retrospectivly chase thousands of businesses. i suspect your definition of cant win is flawed. Quote Link to post Share on other sites More sharing options...
Bluedell 14 Posted June 16, 2011 Share Posted June 16, 2011 hmmmma 20 million bill will not allow us to enter liquidation and a win will allow hmrc to retrospectivly chase thousands of businesses. Why not? Where are we going to get £20m from once the preferred creditors have been paid? Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 16, 2011 Share Posted June 16, 2011 Why not? Where are we going to get £20m from once the preferred creditors have been paid?you cant just throw a solvent company into liquidation because it suits you. does whyte not only become a prefered creditor once we are in liquidation. Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted June 16, 2011 Share Posted June 16, 2011 you cant just throw a solvent company into liquidation because it suits you. does whyte not only become a prefered creditor once we are in liquidation.A company is insolvent when it can't pay its debts as they fall due. Don't confuse that with net assets.As Bluedell says, where would we get the £40m-£50m to pay the secured creditor (Whyte) then HMRC in the space of a few weeks? If you can't answer that, then you are by definition conceding that administration is a possibility ("a 20 million bill will not allow us to enter liquidation") Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 16, 2011 Share Posted June 16, 2011 A company is insolvent when it can't pay its debts as they fall due. Don't confuse that with net assets.As Bluedell says, where would we get the £40m-£50m to pay the secured creditor (Whyte) then HMRC in the space of a few weeks? If you can't answer that, then you are by definition conceding that administration is a possibility ("a 20 million bill will not allow us to enter liquidation")so your saying any kind of tax bill and its liquidation? Quote Link to post Share on other sites More sharing options...
Craigie79 67 Posted June 16, 2011 Share Posted June 16, 2011 hmmmma 20 million bill will not allow us to enter liquidation and a win will allow hmrc to retrospectivly chase thousands of businesses. i suspect your definition of cant win is flawed.A 20 million tax bill would then leave us in the same position as we are in just now then as Whyte would waive the money he is owed. Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted June 16, 2011 Share Posted June 16, 2011 so your saying any kind of tax bill and its liquidation?No, I'm not. Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 16, 2011 Share Posted June 16, 2011 No, I'm not.so there is a winning situation for hmrc. do we imow whyte is a preferential creditor at present? Quote Link to post Share on other sites More sharing options...
gunslinger 270 Posted June 16, 2011 Share Posted June 16, 2011 A 20 million tax bill would then leave us in the same position as we are in just now then as Whyte would waive the money he is owed.yes very similar assuming we borrowed to pay it. Quote Link to post Share on other sites More sharing options...
Craigie79 67 Posted June 16, 2011 Share Posted June 16, 2011 yes very similar assuming we borrowed to pay it.Unless we go on and win the champions league or use last season champion league money plus this seasons(if we make it) i am sure the majority of it would have to be borrowed.Personally i wouldn't have much of a problem with that. Quote Link to post Share on other sites More sharing options...
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