Big Tax Case

[Johnny Hubbard 280]

What the hell is going on !

Verdict due early last year, then November, then March, then April.

We're half way through April and this verdict is important to prospective buyers.

It's sheer incompetence or negligence we haven't heard it yet

this tax tribunal needs a boot up the arse and to be told that their lack of Action is prejudicial to the well being of our club

frankly I can't see any excuse for a further delay and those responsible should be brought to book to explain themselves

[Broxi 11,473]

Would a CVA still be do-able if the verdict came before it? If HMRC knew that they were due say £50m?

Also, why would we do a CVA before it if we didn't know if we had lost?

[JCS 649]

What the hell is going on !

Verdict due early last year, then November, then March, then April.

We're half way through April and this verdict is important to prospective buyers.

It's sheer incompetence or negligence we haven't heard it yet

this tax tribunal needs a boot up the arse and to be told that their lack of Action is prejudicial to the well being of our club

frankly I can't see any excuse for a further delay and those responsible should be brought to book to explain themselves

I fully agree mate. I cannot understand the delay. Rgardless of the extent and scope of the documentary and other evidence, the decision should have been made, written up and promulgated some time ago.

I simply do not believe that the evidence is so voluminous that it is taking this long to assess/analyse it and draft the written decision. I can't help wondering if a 'brake' has been deliberately put on the dissemination of the decision to facilitate discussions between the administrators, the bidders and HMRC.

Whatever the rationale, I think it's time that Duff & Phelps, the bidders themselves and our public representatives started to ask serious questions. Better we have the decision than this continuing uncertainty.

[Chef 436]

I agree fully it is taking ages, but also I love these threads as they turn out all the info required in due course. Cue the tax experts

[A.T.G 10,773]

By the start of the new season the tax case will be dealt with one way or another

Debt free Rangers

How good does that sound? Fuck u BTC

[4MenHadADream 122]

Supposedly the result is due within 90 days of the tribunal adjourning, and that deadline expires on Thursday coming. Having said that, I am sure that if they gave justification to the judge, a discretionary extension could be applied.

[Anchorman 85]

It would help if we knew the players involved. My understanding is that the EBTs were 10 year 'loans' and that the player can also pay it back any time up until 9 years 364 days of the loan. It's at that point HMRC can ask for proof of accounts that the loan was paid back. What complicates it is that the EBT 'loan' period can also be extended by the club under certain circumstances. I have heard a rumour that HMRC had been dragging their heels for some of these loan periods to complete and to give them time to investigate accounts for proof of payback. Could be shoite though!

[Redwhiteandblue 3,330]

I fully agree mate. I cannot understand the delay. Rgardless of the extent and scope of the documentary and other evidence, the decision should have been made, written up and promulgated some time ago.

I simply do not believe that the evidence is so voluminous that it is taking this long to assess/analyse it and draft the written decision. I can't help wondering if a 'brake' has been deliberately put on the dissemination of the decision to facilitate discussions between the administrators, the bidders and HMRC.

Whatever the rationale, I think it's time that Duff & Phelps, the bidders themselves and our public representatives started to ask serious questions. Better we have the decision than this continuing uncertainty.

promulgated? I like it

[Thermopylae 15,286]

I don't know if the delay is good news or not?

[Eastcoast Al 1]

No one does it is all speculation until it is announced I'm affraid.

[hemdale1873 167]

Hopefully next week FTT result and preferred bidder announced then at least that would give the fans a chance to see where the club is and what the future holds.

Whatever happens we need to start planning for next season very soon i.e. season tickets,players, what league etc.

[OlegKuznetsov 10,816]

Would a CVA still be do-able if the verdict came before it? If HMRC knew that they were due say £50m?

Also, why would we do a CVA before it if we didn't know if we had lost?

Absolutely. Virtually all valid sources have said so.

Because we're in Administration for other debts, already.

[Dutchy 1,200]

One reason I'd like it solved is so that at least after it is, the administrators can't find any other reasons to delay announcing a preferred bidder, and cut our debts by paying these feckers fro bleeding our club dry.

[markybear 136]

Supposedly the result is due within 90 days of the tribunal adjourning, and that deadline expires on Thursday coming. Having said that, I am sure that if they gave justification to the judge, a discretionary extension could be applied.

Is there a source to back up those deadlines bud?

Also what was the date in jan/feb that the last trial was held?

Edit, was it jan 30th?

[OlegKuznetsov 10,816]

Is there a source to back up those deadlines bud?

Also what was the date in jan/feb that the last trial was held?

Edit, was it jan 30th?

I'd like to check that too.

[southcoastbear 1,639]

It's beyond a joke now but I remember something saying legally it had to be announced within 12 weeks of end of tribunal which is a couple of days away. Don't know how true this is.

[markybear 136]

It's beyond a joke now but I remember something saying legally it had to be announced within 12 weeks of end of tribunal which is a couple of days away. Don't know how true this is.

That would be 84 days?

[4MenHadADream 122]

Is there a source to back up those deadlines bud?

Also what was the date in jan/feb that the last trial was held?

Edit, was it jan 30th?

I've only heard others mention the 90 day period, also mentioning next Thursday as the deadline. As far as I remember the last day of the tribunal was around Feb 17th, but I don't know if the arithmetic works with that one.

[markybear 136]

I've only heard others mention the 90 day period, also mentioning next Thursday as the deadline. As far as I remember the last day of the tribunal was around Feb 17th, but I don't know if the arithmetic works with that one.

17 feb works out about 57 days ago

[OlegKuznetsov 10,816]

It would help if we knew the players involved. My understanding is that the EBTs were 10 year 'loans' and that the player can also pay it back any time up until 9 years 364 days of the loan. It's at that point HMRC can ask for proof of accounts that the loan was paid back. What complicates it is that the EBT 'loan' period can also be extended by the club under certain circumstances. I have heard a rumour that HMRC had been dragging their heels for some of these loan periods to complete and to give them time to investigate accounts for proof of payback. Could be shoite though!

If that was the case, I would have expected to see some re-payments being made.

[Jimfanciesthedude 24,498]

i wouldnt be surprised if the outcome was known to HMRC and Duff&Phelps already, hence why D&P are sorting out preferred bidder

[markybear 136]

If that was the case, I would have expected to see some re-payments being made.

I was under the impression that the ebts were loans that were only to be repayed if the player or employee reached 100yrs old

[4MenHadADream 122]

17 feb works out about 57 days ago

Well that's that theory out of the window. I'm pretty sure it ended in February anyway

[54andcounting 627]

I love these threads simply because the amount of guests they attract.

[Thermopylae 15,286]

Yes everyone starts a rumour like you only have to repay them if you reach 100 years old and pretty soon no one can see the wood for the trees