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JAStewart
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Why do Rangers escape so lightly from the Scottish press regarding their financial position?

 

Despite the current small tax case for £3 million which they seem to be struggling with, there is the much bigger liability of £49 million in respect of the EBT shennaningans. RFC state all this in their accounts - it is not hidden.

 

Whyte said before buying rfc that he would pay £10-£15 million max on this case if forced, otherwise he would let the club go under. EBT's are now discredited as a tax loophole and it is almost certain that HMRC will pursue this aggresively. And a completely reckless thing for the owner to state, imagine HMRC and their legal advisors when they read this!

 

Last week RFC re-sold their catering rights to raise abt £5million which seems to be required to settle the smaller tax case. Why sell an infinite revenue stream bringing money in year after year unless you're desperate? Where's all the wads of cash from Whyte? Why does he have to sell off the catering business to raise money?

 

It's like when they closed the rangers shops and sold retail rights to JJB.

 

Then they refuse to pay a small £35k legal bill and then ban the media group that this legal firm is connected to.

 

The financial crisis at ibrox is a serious as it can get, bankruptcy is a probable outcome unless something really dramatic happens in favour of rfc but hardly a cheap in the scottish media- why is that?

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^^^ because its all hear say FFS! No one can give a difinitive answer on how much Rangers owe the HMRC and the HMRC will not release the details.

 

The only people that care about this story are smug Celtic fans who want to see Rangers go under so that maybe that will create an even playing field for them to start winning league trophies again! :wink:

 

Thats my take on it anyway!

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Why do you think that having yellow is sectarian? Celtic's colours are green, white and yellow. Just check out the colours of the 2nd shirt and training gear. Some supporters want to use Celtic colours not Irish, not that there is anything wrong with that.

 

you just keep telling yourself that dear :roll:

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you just keep telling yourself that dear :roll:

 

And you are certain that all Celtic fans who wave a flag with yellowy-orange instead of orangey-yellow are religious bigots? I saw quite a few of them on the pictures from Parkhead this weekend but it was difficult to tell just how bigotted the wavers were.

 

This is part of the madness of the Rangers-Celtic rivalry. Each side knows the other is evil incarnate and no-one can convince them any differently. Not everyone who attaches themselves to the Old Firms sides is full of this hate but, unfortunately, enough of them are to maintain the poison.

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I'm not a particularly sporty person and if the truth be told I(thankfully) have no interest in football.

 

However, that doesn't mean I'm oblivious to what's happening in life and this thread has been bouncing at the top of the Shetlink page for a few days now so I thought I'd say a word or two.

 

From where I'm standing, 95% of this whole Ranger and Celtic thing is pure and utter poison and hatred. You only have to read this thread to see it seeping out and it saddens me to see any Shetlander wearing either team's shirt.

 

When I see a toddler or even a baby bedecked in either team's football top(perhaps for the sake of a photo) I simply cannot understand why any parent would raise their child in that poisionous atmosphere and instill so much venom and hatred in them towards others.

 

Thankfully, it's not got a big foothold here but I would be glad for Shetland to be rid of the whole thing.

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Biglad wrote:

 

^^^ because its all hear say FFS! No one can give a difinitive answer on how much Rangers owe the HMRC and the HMRC will not release the details.

 

The only people that care about this story are smug Celtic fans who want to see Rangers go under so that maybe that will create an even playing field for them to start winning league trophies again

 

Well here's the link to martin bains court papers ;

 

http://www.mediafire.com/?paqbaen9ozn6zp7

 

It's all in here and while RFC have complained about the papers being released they have not denied anything and instead are now putting out statements pretty much acknowledging the situation, so no one can claim it's hearsay!

 

I am a celtic fan. However I have been through the kelly and Mccann years - we had to protest like hell against the board and fight to save the club in face of financial meltdown and take all the flak from the press etc that went with it. It does puzzle me to see RFC getting such an easy ride in a much worse situation. Perhaps if their fans knew all that was going on they would mobilise themselves the same way we did and do something about it! Maybe that's why it's all been kept so hush hush, I don't know?

 

I have never placed any stock on the "everyone against us" paranoia among some sections of our support or believed in conspiracy theories but something doesn't add up here!.

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Ok, it seems the press have now finally caught up with what everyone else with an internet connection seems to have known about for months.

 

And here's the bit why it annoys celtic fans - or anyone else for that matter.

 

Rangers now acknowledge that they are being pursued for £35 million (before penalty)by HMRC for paye tax they should have paid on behalf of employees. Instead they paid funds into a tax avoidance scheme. This was the employee benefit trust. Originally intended to buy welfare benefits for all staff employed by a company - canteen facilities, creche facilities etc, this kind of thing. Some companies tried to pervert the scheme and use it to pay executives/owners bonuses etc and avoid paying income tax. It seems Rangers are guilty of this too.

 

Now this is a huge abuse of the EBT scheme. Note that if the unpaid tax element is £35 million then taking roughly 35% as tax rate on salaries RFC players were getting at the time then the club must have paid around £100 million into this scheme.

 

Top players at the time were on about £15-£20k max per week. Annual wage bill can easily be checked but it is clear to anyone with an arithmetic standard grade that RFC must have arranged for all their stars at the time to be paid virtually tax free.

 

Now also note that Celtic, Aberdeen, Dundee utd, Hibs, Hearts - no other Scottish team of the time, are guilty of this. RFC are the only team guilty of cheating in this way at that time.

 

This was the so called glory years of nine in a row for RFC. It was a period in Scottish football dominated by expensive transfers mostly consisting of foriegn imports and was being led by Rangers.

 

Now if Aberdeen were offering a player £10k per week, RFC could offer the same and the player would be £4k a week better off going to Ibrox, just on the basis of abusing the EBT in this way. RFC had a huge advantage over all other Scottish clubs because of this.

 

In a period where Scottish teams were competing on the basis of the players they could attract to their clubs Rangers were cheating by dodging tax. This allowed them to offer their transfer targets up to 40% higher earnings without any extra financial cost to the club - all because they were cheating on the tax!

 

Now also think about society in general. How much flak has the banking sector taken recently? RFC have basically stuck two fingers up at all the rest of us and said;

 

"naw, we're a top scottish institution and proud of our dignity and history, but screw the rest of you gadgies, we’re going to deprive you of £35 million worth of tax revenue that our extremely wealthy footballers should be paying to you".

 

As I said, they paid over £100 million into a tax avoidance scheme so must have known exactly what they were doing.

 

Now what about hospitals, schools, transport - all the stuff our tax pays for? Where do RFC get off thinking they have some right to divert this away from society and into the pockets of rich footballers - and all to attract these players to the club to allow them to win championships and trophies.

 

No, I think there is a right to be annoyed. By using this tax avoidance scheme to such an extent then Rangers basically cheated their way through the nine in a row as far as I am concerned. But further than that they have cheated the rest of us out of £35 million. And do you think it will ever be paid back?? Don't think so!

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Rangers basically cheated their way through the nine in a row as far as I am concerned.

 

Rangers 9 in a row streak was from 1988-89 to 1996-97. These tax claims are from the wages to staff from 2001 and on so you may want to take your green shades off.

 

Can you quote some facts and figures from the HMRC about this because as far as I'm aware they are the only people who have any idea, not the local tabloids which are full of the same news today about this subject as they were this time last year !!!

 

Just wondered, did you source info from here at all?

 

http://celticparanoia.blogspot.com/2011/04/15-years-of-press-lickspittlery.html

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