The old Rangers Football Club owed more than £94m in unpaid tax and penalties, according to its administrators. The final report to creditors from Duff and Phelps reveals that the size of HM Revenue and Customs claim against the club totalled £94,426,217. It also shows that the administrators are claiming £3,121,683 in fees. Creditors have until 12 October to vote on the report. When the administration period ends, the old Rangers FC will be placed in the hands of liquidators BDO. Rangers was forced into administration by HM Revenue and Customs (HMRC) on 14 February over non-payment of tax totalling about £14m. Third Division Craig Whyte, who bought the club from Sir David Murray last year, was successful in having his nominated firm, Duff and Phelps, appointed. Following a hearing at the Court of Session, David Whitehouse and Paul Clark were appointed as joint administrators of the club. After HMRC rejected proposals for a creditors agreement that would have allowed the old club to continue, Duff and Phelps negotiated a sale of assets to a consortium led by Charles Green for £5.5m. He has since formed a new club which is playing in the Scottish Football League Third Division. In its final report to creditors, Duff and Phelps states: "The joint administrators have continued to review the claims made by HMRC in the administration. "The claims are largely made up of determinations issued by HMRC in accordance with Regulation 80, penalties and outstanding PAYE/NIC. "The joint administrators have adjudicated on these claims and confirmed to HMRC that for voting purposes, their claim will be admitted for voting purposes at £94,426,217.22." The majority of that figure relates to the old club's use of Employee Benefit Trusts (EBTs), on which HMRC claimed unpaid tax and penalties in excess of £49m. October judgement A judgement on an appeal of this assessment, which was heard at a First Tier Tax Tribunal, is imminent. The creditors report notes: "An outcome has yet to be determined by the tribunal and is currently expected in October 2012." Among the resolutions which creditors are being asked to approve is Duff and Phelps' fees. The report states: "That the creditors approve the remuneration, expenses and outlays of the joint administrators in respect of all accounting periods not previously approved, being, in respect of remuneration only, £2,930,644 for the period 14 February 2012 to 29 June 2012 and £191,039 for the period 10 August 2012 to 14 September 2012."
can we have our stadium back now please? I believe RBS funded it and we all own RBS according to Government reports. We would like our stadium back please. As a fully paid up member of the RBS comittee, i think its about time it was returned, so others can enjoy it!
Where else is it mate? ps. Careful, the "ellipsis police" will be all over you're ass! What ****e are you talking about flower?
Careful, the "you're/your police" will be all over you're/your ass! ps. His ellipsis was employed perfectly.
As were mine... Oh, allow you. Difference being you purposely use big words to fool people into think you're super intelligent therefor when you're trying to be a smart arse and make a **** of it people will pick up on it. When actual ******s like Harry write a whole post of mistakes everytime no one bats an eyelid.
For your benefit I will repeat what I said the other day when you went to town on a typo of mine. Remember? I typed "Passsle", clearly a simple typing error which was unworthy of comment,however you being you, had to stick your nose in and spoil a perfectly reasonable, light hearted thread...again. I then pointed out your many, many grammatical flaws and told you that people who live in glass houses... You did not seem to catch my drift so it looks like i'll have to spell it out. I tend not to correct people's grammar nor spelling, I do that because I like to think I am above it and because I have family members who are Dyslexic, and I seem to recall telling you before that spelling is no guide to intellect. That's why I don't do it. I don't look down on people or use what you view as "fancy language" to appear super intelligent, I do it because I can and because I like doing it, it seems to grate with some people so it serves it's intended purpose. In summary, look after your own and i'll look after mine, you don't like what i'm saying then don't read it, put me on ignore for all I care but don't try and nitpick my usage of the English language unless you want the flaws in your own cast right back in your face. There is ample scope for criticism.
A bite? Heard it before and it goes like this 1:When defeated hands down in an argument simply pretend you were at the wind up One of the most overused ploys on the Internet
