HMRC to appeal
- Thread starter Mind The Duck
- Start date
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Trevor Santos:3873211 said:From BBC:
Mindy double fail
PS you're acting like it's a surprise that they are appealing
What does the headline say?
I accept your apology
HMRC to appeal against ruling in Rangers 'Big Tax Case'
HM Revenue and Customs has said it will seek permission to appeal against a tax tribunal ruling in favour of Rangers' use of Employee Benefit Trusts.
The club, which is now in liquidation, used the scheme from 2001 to 2010 to make £47.65m in payments to players and staff in the form of tax-free loans.
HMRC had challenged the payments, arguing that they were illegal.
Rangers disputed the bill and a First Tier Tax Tribunal (FTT) ruled the scheme did not breach tax law.
In a majority decision, the tribunal said the payments - of about £49m - were loans, not earnings, and so were not liable for income tax.
The old Rangers was under the control of Sir David Murray when it began using EBTs.
He sold the club for £1 to Scottish businessman Craig Whyte in 2011, while the tax liability was in dispute.
The FTT, before three judges, concluded in January, one month before the old Rangers, now under the control of Mr Whyte, was forced into administration by HMRC over non-payment of tax totalling about £14m.
HMRC subsequently rejected proposals for a creditors agreement that would have allowed the old club to continue.
Administrators Duff and Phelps then negotiated a sale of assets to a consortium led by Charles Green for £5.5m.
He has since formed a new club, now playing in the Scottish Football League Third Division.
HM Revenue and Customs has said it will seek permission to appeal against a tax tribunal ruling in favour of Rangers' use of Employee Benefit Trusts.
The club, which is now in liquidation, used the scheme from 2001 to 2010 to make £47.65m in payments to players and staff in the form of tax-free loans.
HMRC had challenged the payments, arguing that they were illegal.
Rangers disputed the bill and a First Tier Tax Tribunal (FTT) ruled the scheme did not breach tax law.
In a majority decision, the tribunal said the payments - of about £49m - were loans, not earnings, and so were not liable for income tax.
The old Rangers was under the control of Sir David Murray when it began using EBTs.
He sold the club for £1 to Scottish businessman Craig Whyte in 2011, while the tax liability was in dispute.
The FTT, before three judges, concluded in January, one month before the old Rangers, now under the control of Mr Whyte, was forced into administration by HMRC over non-payment of tax totalling about £14m.
HMRC subsequently rejected proposals for a creditors agreement that would have allowed the old club to continue.
Administrators Duff and Phelps then negotiated a sale of assets to a consortium led by Charles Green for £5.5m.
He has since formed a new club, now playing in the Scottish Football League Third Division.
Are you familiar with the term "Don't judge a book by its cover"
If not go **** yourself I don't care.
See to be fair, there's some massive levels of beel flying about Twitter about that BBC piece.
That's all it took
Apparently, this line is "embarrasing" and "blatant, intentional lies"
That's all it took
Apparently, this line is "embarrasing" and "blatant, intentional lies"
From BBC:
Mindy double fail
PS you're acting like it's a surprise that they are appealing
He seems to be totally surprised. Like, aye, HMRC were gonny forget all about the several thousand companies in the country that operated EBT's. They lost their test case - they were always going to look into an appeal.
And he doesn't understand the difference of seeking permission to appeal and actually launching an appeal.
"@alextomo: HMRC will appeal the recent FTTT majority decision in the tax-case"
Bloody know nothing bloggers
Bloody know nothing bloggers
Biggus Diccus:3873330 said:
"@craig_smith_72: @rfc_dickson Is there a way the club can take them to task over this nonsense? It's getting beyond a joke. The club isn't in liquidation."
Gambol:3873338 said:From BBC:
Mindy double fail
PS you're acting like it's a surprise that they are appealing
He seems to be totally surprised. Like, aye, HMRC were gonny forget all about the several thousand companies in the country that operated EBT's. They lost their test case - they were always going to look into an appeal.
And he doesn't understand the difference of seeking permission to appeal and actually launching an appeal.
One of your very own, Edge I think, didn't believe me on another thread when I suggested they may appeal...its mostly for his benefit
I made no comment on the seeking of permissions...you lot went into "MindyFail" overdrive because of the structure of my thread...BBC and C4 have done the same as me so I feel "vindicated"
One of your very own, Edge I think, didn't believe me on another thread when I suggested they may appeal...its mostly for his benefit
I made no comment on the seeking of permissions...you lot went into "MindyFail" overdrive because of the structure of my thread...BBC and C4 have done the same as me so I feel "vindicated"
No, both of them reported "seeking permission to", not that they were. Pedantic, I know.
It was always likely given the widespread belief that Rangers were their test case they were not going to give up having lost. The several thousand companies that breathed a collective sigh of relief will be watching closely.
Medro:3873742 said:Calm doon Bears ffs
Wanna come riot with me?
Typical bigots
Won't be happy until they've strung something up