Cant they just deduct that 2.5 mill out of Kings 30 odd?
:greengrin
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Cant they just deduct that 2.5 mill out of Kings 30 odd?
:greengrin
Accounts also show they have still not paid the £250k fine due to the league for their involvement in EBT's. A clear breach of the 5 way agreement.
How many other clubs would get away with not paying their fines?
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Chris Musson @camusson 47s48 seconds ago Ruling: Rangers' Murray era trust payments scheme was “a mere redirection of emoluments or earnings” and therefore "subject to income tax”
HMRC wins big tax case
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“Furthermore, so far as the footballers are concerned, at least, it seems to us that if bonuses had not been paid they might well have taken their services elsewhere. We realise that the fifth respondent [RFC 2012] was in, potentially, a difficult financial position, competing for good players in an international market where other countries may not have the same rigorous approach to taxation as the United Kingdom. Nevertheless, the law is clear: the payments made in respect of footballers were in our view derived from their employment and thus the payments were emoluments or earnings.”
Important paragraph from judgement. They cheated to get better players.
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HMRC win appeal, link to statement ...
http://www.scotland-judiciary.org.uk...ngs-and-others
This part.
“It seems to us to be self-evident that the obligations in the side-letter were part of the employee’s employment package, and provided him with additional remuneration. They were negotiated as part of the total employment package…Once it is accepted that the bonus payments represented consideration for a footballer’s services qua employee, it inevitably follows that those payments represented emoluments or earnings of the footballer in question.
“Furthermore, so far as the footballers are concerned, at least, it seems to us that if bonuses had not been paid they might well have taken their services elsewhere. We realise that the fifth respondent [RFC 2012] was in, potentially, a difficult financial position, competing for good players in an international market where other countries may not have the same rigorous approach to taxation as the United Kingdom. Nevertheless, the law is clear: the payments made in respect of footballers were in our view derived from their employment and thus the payments were emoluments or earnings.”
...shows Rangers cheated. Something the SFA has denied but was and is clearly against the rules then and now.
So...what does this mean then? Whats this going to cost them?
Can they just appeal it?
Shouldn't Oldco now be stripped of the trophies and titles won while using EBTs?
It may not have a fiscal impact on Sevco. But it's now official. Their club history is one of cheated titles. That they can never run from. Odious club indeed.
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Won't mean anything to The Rangers, but it does provide evidence that OldCo did in fact cheat.
Also clears the way for HMRC to pursue other football clubs who have used the same/similar practises in the past. Think there will be a few clubs with squeeky bums this morning...
It is not pointless for H.M.R.C. as they will set a precedent to pursue clubs Daan Sauff.
Yes, without doubt will it happen no chance.
Indeed but maybe Mark Daly would give it a go - failing that Alex Tommo will
It only says they have won the Appeal to actually take it back to court, not actually won the verdict
Wasn't there already a precedent set with Arsenal?
http://www.theguardian.com/football/...wsstory.sport9
This was conveniently ignored when it came to Rangers, up until today.
They cheated, they knew back then they were cheating, we knew they were cheating, the SFA knew there were cheating due to Campbell Ogilvie's direct employment with both at the same time...this just merely confirms it
Will the players have to pay anything back, or was the liability against the company?
Remind me how much tax they avoided?
@glasgowsgreenw 2m2 minutes ago
Scottish Cup Winners 2008/09
Rangers 0 - 3 Falkirk
Do you think there is the appetite for that?
This is a precedent, nothing more. Bar dipping their beaks into the Oldco Creditors Pot, HMRC are now finished with Rangers.
This legal ruling will be used to bash much bigger fish over the head with backdated tax demands though as always HMRC will run shy of taking on the real monsters like Vodafone who seem to sort their tax avoidance out by taking the Chancellor of the Exchequer for lunch.