Surely, their remit will include stopping the transfer of assets from a liquidated company to a new company. Especially when the valuations of those assets were over £100million and mysteriously dropped in the CVA outline to be worth £5.5million. I can see no other advantage of appointing them so early - obviously, they're not going to work for HMRC for free and HMRC shouldn't be wasting money appointing them early if they're not going to do a job for them. Apart from the property assets, there's **** all. The players can all walk for free now.
It depends on when the assets were transfered. As was well covered in EDGE 2011, the company that I work for had to go down the tubes around a year ago, but before doing so, I bought all the assets for buttons and sold them to the new company at a 2000% mark-up. The way I got round it was to have my assets valued very low in the last set of accounts, this being a potential problem for CW as Rangers assets were valued at over £100m in the previous accounts, but I'm sure the Shyster has it well covered.
yeah but that was a button company EDGE - very different with a football club all joking aside, rangers will still be in the spl next year albeit slightly hamstrung
If the assets are sold to a new company before a liquidation event (which is apparently part of Greens deal) then there will be basically no assets left to sell by BDO. From reading the statement, I think HMRC are more interested in BDO doing an investigation into how Rangers were run by Murray and Whyte with the intention of taking them both to the cleaners.
Indeed, but hmrc don't seem to believe d&ps valuation of rangers. If they clan get more selling the assets themselves- they will do so. They will ask the courts to stop d&p flogging them cheap
What's to stop hmrc saying rather than selling ibrox for £5.5m (along with other assets worth more than 5.5m) we'll keep ibrox and rent it to rangers 2012 for 20 years at £3m a year?
At the bottom of the updated BBC article, it now indeed says that So, Green is going to own Ibrox and Murray Park for what looks like 5% of their initial valuation. ...and you all reckon that BDO have been hired to "investigate" the previous owners? It all remains to be seen and you may be right but I think BDO will be more involved than that.
It would not be guaranteed income and they could end up sitting with an empty stadium that nobody wants. It's a listed building so they would be responsible for general maintenance. They would need to have someone willing to buy Rangers without having the most valuable asset, and also be willing to pay HMRC money every year.
That would suggest HMRC think they can get more money by taking Murray and Whyte to task. Eric, you remind me of a guy I played football with. PK?
Just saying what's being reported. On Radio Scotland news are saying the CVA was rejected by HMRC because they have a policy of not agreeing CVA's with anyone who has been dodging taxes (as Whyte did last year). They have also said they are not standing in the way of the sale of the assets to Green, and that they are going after the previous owners.
Nope As for going after murray and whyte, pointless as the tax bill lies with RFC. The assets are only worth what someone is willing to pay for them. The land value of those areas wouldn't even net £500k. Remember this means the squad could leave for free now though.
Ah well. Just thought because he's a fanny as well and posted something similar on facebook. Are you saying you know more about this than HMRC? Maybe since the old company will no longer exist, then the existing liability (the BTC) will be the responsibility of the previous owners (Murray and Whyte). Those brackets should hopefully keep it a bit simple for you to understand
Oh i understand but the the debt is against RFC and no one else. They could only go for a prosecution for tax evasion but i doubt whyte is that stupid considering he has done this loads of times before, and murray was taking professional advice so hardly likely to get a conviction there. The statement is just spin so as to give a reason for saying no. The tax man doesn't really do deals because he wants people to be scared of him.
Just reported again on Radio Scotland that HMRC are indeed launching an investigation into the previous owners.
