This tax case may not be as bad as first thought.

[Jimfanciesthedude 24,506]

I thought that HMRC always came first in the list to be paid?

nope for a number of years now HMRC have lost the right to be the first creditor in cases of administration, hence why a lot of people are wondering if the size of bill we are reportedly being hit with is actually that big, HMRC must realise that if they smack us with a 50mill bill in total then their chances of getting back even 10% of that is really low

[Sicknote 26]

My understanding is that the footballers creditor rule is specific to England.

In Scotland, Craig Whyte has first dibs on all money up to the value of the debt owed to him

cheers again

[TheLawMan 6,240]

What did we use our season ticket money for, and also the likes of Tennents sponsorship money, etc.?

Paying the bills such as wages etc.

Dont get me wrong, im not entirely convinced he has deposited that amount of cash in our account. But he should have. And we will owe him it as per the terms of the acquisition.

[Colonel Mustard 380]

It hasnt been heard for the last 5 weeks. As posted above, the first session was held in Oct/Nov of last year and the second session was held in April. Each session is 2 weeks long and if the evidence hasnt been concluded then a new date is set.

The next date is in November and that will be the start of week 5 of evidence and will again last 2 weeks. Hopefully we will get a decision in that time, or at least a nod that the evidence is now complete and that a decision will be forthcoming eithout the need for another date in April 2012.

A bit different from the impression you were giving of us being into a fifth week of evidence at the moment.

Thanks for clearing that up.

Is there somewhere we can access details of this 5 weeks of evidence?

Cheers.

[forlanssister 157]

Its connected to my job, but i have been reading up on a lot of it since it became apparent that we were involved in it.

I also work very frequently with auditors who are full of information, including Grant Thornton who are Rangers auditors

Are Grant Thornton not overly keen to sign off the latest accounts?

[TheLawMan 6,240]

nope for a number of years now HMRC have lost the right to be the first creditor in cases of administration, hence why a lot of people are wondering if the size of bill we are reportedly being hit with is actually that big, HMRC must realise that if they smack us with a 50mill bill in total then their chances of getting back even 10% of that is really low

or even 0.1%

[TheLawMan 6,240]

A bit different from the impression you were giving of us being into a fifth week of evidence at the moment.

Thanks for clearing that up.

Is there somewhere we can access details of this 5 weeks of evidence?

Cheers.

It is moving into the 5th week of evidence though, which is what i think i said.

And no, you cant access the evidence. We were granted a private hearing for this and as such, only the legal teams and judges will be privy to the intimate details.

[jcb 1,167]

What did we use our season ticket money for, and also the likes of Tennents sponsorship money, etc.?

This money is used for the day to day running of the club over the course of the season.

[markybear 136]

or even 0.1%

If we lose and they see our finances, could we make them an offer. Surely they'd see sense.... Heres £6mill (for eg), take it or don't, if u don't u'll get fuck all. This is your only chance of cash kinda thing

[TheLawMan 6,240]

Are Grant Thornton not overly keen to sign off the latest accounts?

Im not sure. I mainly deal with the London boys tbh and they would very rarely talk about individual clients in that manner. I was meaning they can discuss in more generic terms the issues and intricacies of EBT schemes etc

[Colonel Mustard 380]

Paying the bills such as wages etc.

Dont get me wrong, im not entirely convinced he has deposited that amount of cash in our account. But he should have. And we will owe him it as per the terms of the acquisition.

Maybe between £12m to £15m of season ticket money was available, plus a few million of sponsorship money, to pay wages and expenses?

Not to mention money for jersey sales etc.?

Surely Whyte didn't need to dig in for everything we've spent...or if he has, we must have a right few quid in the bank?

[TheLawMan 6,240]

If we lose and they see our finances, could we make them an offer. Surely they'd see sense.... Heres £6mill (for eg), take it or don't, if u don't u'll get fuck all. This is your only chance of cash kinda thing

I doubt it. They could have done that with Portsmouth and others(not on EBT's) and didnt. It would be setting a dangerous precedent though i believe there has been the odd case here and there.

[Colonel Mustard 380]

It is moving into the 5th week of evidence though, which is what i think i said.

And no, you cant access the evidence. We were granted a private hearing for this and as such, only the legal teams and judges will be privy to the intimate details.

If this was a private hearing, how do you have so much information about what's happening?

[markybear 136]

It is moving into the 5th week of evidence though, which is what i think i said.

And no, you cant access the evidence. We were granted a private hearing for this and as such, only the legal teams and judges will be privy to the intimate details.

I was having a wee joke b4 re phil mac, but seriously I'm surprised that he's not been able to access and publicise evidence of the case as its taking place in court. I'd swear he uses illegal means to obtain into

[TheLawMan 6,240]

Maybe between £12m to £15m of season ticket money, plus a few million of sponsorship money, to pay wages and expenses?

Not to mention money for jersey sales etc.?

Surely Whyte didn't need to dig in for everything we've spent...or if he has, we must have a right few quid in the bank?

Our total wage bill for all employees including tax, NI, pension and bonuses is over £25m. We dont get money from jersey sales.

Thats why CL football is a must for us.

I have said a few times im worried about our cashflow, but Mr Whyte seems confident we are fine

[TheLawMan 6,240]

If this was a private hearing, how do you have so much information about what's happening?

I havent said a single thing about the evidence at the hearing other than its my opinion that if it was cut and dry either way, it would be over by now.

All the information i have given is outside what goes on in the hearing room.

[Colonel Mustard 380]

Our total wage bill for all employees including tax, NI, pension and bonuses is over £25m. We dont get money from jersey sales.

Thats why CL football is a must for us.

I have said a few times im worried about our cashflow, but Mr Whyte seems confident we are fine

What is it we get from JJB, if it's not money for jerseys? £3.8m per year? (that figure is off the top of my head and might be wrong).

[TheLawMan 6,240]

What is it we get from JJB, if it's not money for jerseys? £3.8m per year? (that figure is off the top of my head and might be wrong).

Ah right. Got ye. the money from JJB is not dependent on any sales at all. They pay us(or are supposed to pay us) £3m per year for holding the licence. Additional money only kicks in if certain levels of sales are achieved which they never are.....

[Colonel Mustard 380]

I havent said a single thing about the evidence at the hearing other than its my opinion that if it was cut and dry either way, it would be over by now.

All the information i have given is outside what goes on in the hearing room.

So, you are only giving your opinion? That's fine. It looked to me like you actually had hard information that you were sharing.

Please make it clear that it is only your personal opinion...some posters on the thread think you actually know what is happening.

[Colonel Mustard 380]

Ah right. Got ye. the money from JJB is not dependent on any sales at all. They pay us(or are supposed to pay us) £3m per year for holding the licence. Additional money only kicks in if certain levels of sales are achieved which they never are.....

So, even given the disparity in what we both think the figure actually is, that's another income stream that Whyte didn't need to use because he is funding everything himself?

[TheLawMan 6,240]

So, you are only giving your opinion? That's fine. It looked to me like you actually had hard information that you were sharing.

Please make it clear that it is only your personal opinion...some posters on the thread think you actually know what is happening.

If its opinion, i clearly state opinion. Some of it is not opinion though. Some of it is Fact.

And i do know whats happening.

We have being paying money into an EBT scheme for 10 years

We got advice from tax consultants and lawyers on it back in the day

HMRC reckon we havent been doing it properly

HMRC have issued us with an assessment

We are contesting that assessment at a First Tier Tribunal

So far there has been 4 weeks of evidence

The 5th and 6th weeks start next month

Once a decision is reached, either party can appeal.

That appeal can be refused to be EVEN heard.

If you have any issues with any of my answers then challenge it instead of making snidey remarks about what i should and shouldnt be doing. Cheers.

[TheLawMan 6,240]

So, even given the disparity in what we both think the figure actually is, that's another income stream that Whyte didn't need to use because he is funding everything himself?

You have lost me now. Who says Whyte is funding everything himself ?

[SimplyTheRangers 43]

If its opinion, i clearly state opinion. Some of it is not opinion though. Some of it is Fact.

And i do know whats happening.

We have being paying money into an EBT scheme for 10 years

We got advice from tax consultants and lawyers on it back in the day

HMRC reckon we havent been doing it properly

HMRC have issued us with an assessment

We are contesting that assessment at a First Tier Tribunal

So far there has been 4 weeks of evidence

The 5th and 6th weeks start next month

Once a decision is reached, either party can appeal.

That appeal can be refused to be EVEN heard.

If you have any issues with any of my answers then challenge it instead of making snidey remarks about what i should and shouldnt be doing. Cheers.

even if you had a priest just getting to the ticklely on yer backbox you wouldn't look any more like a taig

NAAA'MEAN :3070edu:

[TheLawMan 6,240]

even if you had a priest just getting to the ticklely on yer backbox you wouldn't look any more like a taig

NAAA'MEAN :3070edu:

Nice one. Cheers

[Colonel Mustard 380]

If its opinion, i clearly state opinion. Some of it is not opinion though. Some of it is Fact.

And i do know whats happening.

We have being paying money into an EBT scheme for 10 years

We got advice from tax consultants and lawyers on it back in the day

HMRC reckon we havent been doing it properly

HMRC have issued us with an assessment

We are contesting that assessment at a First Tier Tribunal

So far there has been 4 weeks of evidence

The 5th and 6th weeks start next month

Once a decision is reached, either party can appeal.

That appeal can be refused to be EVEN heard.

If you have any issues with any of my answers then challenge it instead of making snidey remarks about what i should and shouldnt be doing. Cheers.

All of this is information that is common knowledge...unlike most of the other stuff you are posting, which looks like you are trying to pretend that you have additional information...which you admit you don't.

If that's sounds snidey, then apologies. You don't know shit, so it's dishonest when you try to pretend that you do...stick to telling people that it's just your opinion. When you don't do that, you end up getting naive posters thinking that you are providing them with facts, and that is just not true, is it?