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Quote:
Originally Posted by ancient hibee
You sound like Donald Trump's spokesperson on why he hasn't paid taxes for years.
"It is every American's patriotic duty to pay no more taxes than absolutely necessary"
Or maybe you're Leona Helmsley in disguise...
"We don't pay taxes; only the little people pay taxes"
Quote:
Originally Posted by Iain G
'Rangers could be forced to pay Sports Direct (SDIR) millions of pounds ......'
They could be - could ??? The Hun will be forced to pay !
Where are these guys?!!Quote:
Originally Posted by HoboHarry
Well maybe - it's not in Ashley's interest to force them into bankruptcy if he can bleed money out of them for years to come instead. It could be that they will come to an out of court settlement, but the terms of the deal are likely to be pretty onerous for Sevco.....Quote:
Originally Posted by Deansy
I’m neither.Just someone who has no objection to people doing what the law allows them to do.Doesn’t mean that I think the laws are fair or just.Perhaps you should get in touch with Ron Gordon and tell him you don’t approve of the majority shareholder in Hibs being situated in Delaware in order to take advantage of the company tax rules there.Quote:
Originally Posted by Keith_M
I couldn't disagree with you more. If we want the best possible public services (which I do) they have to be funded accordingly. Tax exiles are a disgrace in my eyes.Quote:
Originally Posted by ancient hibee
Taz evasion is a crime whilst tax avoidance by fancy dan accountants is not but should be punishable by death. See SEVCO.Quote:
Originally Posted by Keith_M
Taz Evasion sounds like a decent player.Quote:
Originally Posted by southsider
Wonder if there is a link between Tavernier going to Newcastle for £8 million (titter ye not ). Can’t believe that they think Ashley is as stupid as they are.Quote:
Originally Posted by Deansy
You do realise that you're avoiding tax by putting money into an ISA or a pension?Quote:
Originally Posted by southsider
Although I agree that the fancy lawyers and accountants looking to create and exploit an unintentional loophole in the wording should be dealt with permanently.
Well not if the money you put in it is from your wages that was taxed in first place.Quote:
Originally Posted by Eyrie
When you buy something in a shop, do you decline to pay the 20% VAT which is included in the price, on the grounds that you're paying out of your wages, which were already taxed?Quote:
Originally Posted by Captain Trips
Quote:
Originally Posted by lapsedhibee
There is a huge difference between ISAs and pensions, which are designed and encouraged by the government to encourage people to save, and tax avoidance which requires the services of accountants to deliberately exploit loopholes in the law using complex financial transactions.
It is a bit silly to equate the two, but unscrupulous wealthy people are very happy that you do!
Very elusive no one can get near him on the pitch.Quote:
Originally Posted by Captain Trips
I think there is zero chance of Ashley giving Dave King £8m.Quote:
Originally Posted by HIGHLANDLEITHER
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By closing the loophole? Not the fault of the accountants, it’s bad tax policy that’s to blame.Quote:
Originally Posted by Eyrie
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You pay into your pension from pre tax earnings. It is done to encourage you to save for your old age so you will not be a drain on the state.Quote:
Originally Posted by Captain Trips
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I was discussing ISA not pensions which like you are aware is something totally different.Quote:
Originally Posted by Ozyhibby
Not always, quite common to make post tax pension contributions and receive tax relief on them.Quote:
Originally Posted by Ozyhibby
...and in related matters
https://www.bbc.co.uk/news/business-49124375
'Shambles' as Sports Direct's results delayed
I know Mr MacGiollaBhain has a very annoying writing style, and is frequently full of bluster, but some of this looks a reasonable read
https://philmacgiollabhain.ie/2019/0...nd-hard-facts/
speculation that sevco are in line for an 8 figure sum to pay as penalty to Sports Direct, and it won't begin with a 1
£20m-£30m is the guess going on here
Close Brothers may be nervous and might be the canary in the mine here... as long as they sit tight, it's probably not end game. But if they do get twitchy...
The only readable and understandable bits of his site are where he quotes someone else!Quote:
Originally Posted by Springbank
100% agree - and especially in that article.Quote:
Originally Posted by Iain G
The analysis from the rangers supporter he quoted was both brutal & spot on (to my eyes)
Phil MacG predicts hugely debilitating event for The Rangers!Quote:
Originally Posted by Springbank
There's a surprise.
I suppose if he does it often enough it might make it come true.:rolleyes:
You get tax relief on pension contributionsQuote:
Originally Posted by Captain Trips
It did the first time around while he was being dismissed as a fantasist.Quote:
Originally Posted by Prof. ****gy
If you mean 2012 there were plenty on here predicting the same thing.Quote:
Originally Posted by HoboHarry
And they were mostly fantasists.
:greengrin:greengrin
No apologies from me for fantasizing about that shower of cants going under again, can't come soon enough. I enjoy reading Phil's stuff, it's a refreshing change from the mainstream press and I would like to think that I'm intelligent enough to form my own opinions about what is happening based on reading multiple sources.Quote:
Originally Posted by Prof. ****gy
Phil may not be everyone cup of tea but back in 2011 him and rangerstaxcase.com were the only one’s with this story. It was completely ignored by the MSM even though all the facts were out there if they wanted to look for them.
He was widely mocked then as well. Who remembers Chic Young on radio Scotland telling everyone there was no chance Rangers were going bust and not to listen to internet bampots?
Or Craig Whyte being introduced as a billionaire by the daily Record?
It’s easy to mock him but he still broke the biggest story in Scottish football in the last 50 years, maybe more.
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:agree: The mainstream press still aren't covering it, I've yet to see coverage of the court loss this week on the BBC.......Quote:
Originally Posted by Ozyhibby
Being reported that the delay is due to a 600 million euro tax bill from Belgium surfacing yesterday! If that killed them and took the huns down with them that would be a sweet sweet moment.Quote:
Originally Posted by Topographic Hibby
Whilst that would be nice, do we not need a strong Sports Direct here? One with pots of cash to spend on lawyers and one less likely to accept a lowball settlement from anyone, as they are an institution desperate to get their hands on any cash possible asap (the position Sevco frequently find themselves in?)Quote:
Originally Posted by Rocky
Possibly, but I'm thinking maybe SD liquidation would mean that liquidators would need to realise any assets asap, including whatever Sevco owe them? If SD are strong then they'd want to take their pound of flesh gradually from huns to avoid killing the golden goose (also a good outcome) whereas if they're distressed they may actually sink them?Quote:
Originally Posted by Smartie
Not if you apply Yamonomics. In that case if the company you own millions to goes bust, you get away with. Apparently!Quote:
Originally Posted by Rocky
Sports Direct SFO resigned tonight?Quote:
Originally Posted by Rocky
Is it better for us to have Sevco dead asap or being bled dry for years by Sports Direct?Quote:
Originally Posted by Rocky
10 in a row, no serious spending to match Celtic and they might die of natural causes along the way.
Exactly what I was thinking. Hamstrung seasons whilst giving them a few more four zips.Quote:
Originally Posted by Smartie
Neither of those is a terrible option to be fair! On balance I think they're better dead asap - the existence of any kind of hun, weakened or otherwise, strengthens Celtic too. If their bigot brothers die it'll take some of the Celtic raison d'etre away too and their support will start to lose interest.Quote:
Originally Posted by Smartie
I agree Ozy though I think Phil Mac plagiarised a lot from rangerstaxcase & one other IIRC. Anyway, wee Craig wasn't just a billionaire, he had off the radar wealth per Keith Jackson. Only in Scotland could a reporter get promoted after such a c!!k up!Quote:
Originally Posted by Ozyhibby
Sports Direct in a wee bit of financial trouble today. No chance Big Mike will be taking a penny less than he is due which could be in the 8 figures.
The only way out of that agreement must be an admin event!
Pensions are taxable. You get tax relief when you put money into a pension (as an incentive to save) but pension income is taxed like any other income.Quote:
Originally Posted by Eyrie
ISAs are funded with money that has already been taxed. You just don't pay any tax on the gain.
So, pensions and ISAs aren't tax avoidance at all.
That Phil guy is far to regularly quoted on this site. He's an embarrassment and obviously keen to predict death of rangers and now sevco
To be fair I don’t think he ever claims to be an impartial observer.Quote:
Originally Posted by Juniper Greens
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Although to be fair if it wasn't for him nobody would have been aware they went bust the last time.Quote:
Originally Posted by Juniper Greens
It's the MSM that should be embarrassed.
I quoted his piece yesterday - to highlight what a rangers shareholder said in Phil's piece.Quote:
Originally Posted by Juniper Greens
I'd say yesterday's quote was a useful one (and one the MSM aren't using) as it said 'what King did with Sports Direct 2 years ago was potentially sensible but only if you are not planning to then slag SD off to your/their customers' and the rangers person then gave some decent rationale.
You don't need to read it. But if you did want to read it then - as others have said - you actually have to read it on his site as the MSM are in a bigger vacuum than Dyson.
Straight from the David Murray playbook. Sevconians all excited again and forgetting all about the large amounts of money due.
https://www.dailyrecord.co.uk/sport/...mpression=true
Although it’s not exactly up there with this classic.
https://uploads.tapatalk-cdn.com/201...f0e79a05c8.jpg
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The most annoying thing about the whole Rangers/ Sevco saga is how difficult it is to get decent news or facts.
The Rangerstaxcase blog was excellent.
Utter pish, like what is in the article above, is par for the course for what you would expect to get from the MSM - interesting to see link halfway down the article to a story that Morelos was watched by AC Milan against Progres. I mean, this stuff is fantasy land drivel.
I don't really hold the Phil and JohnJames stuff in much higher regard. As was mentioned, Phil does deserve some credit for his work on the story, but his writing style is incredibly annoying to read. The other side of the coin from the Traynor led fanboys of the MSM is the frothing Celtic minded buffoon who exists in some remote place for their own safety because of the dynamite blogs they write, constantly predicting the imminent demise of Sevco - a demise that is yet to be seen but by contributing financially to the site you'll have ringside seat when it all kicks off.
If only there was something balanced in between.
The general comment on here is about as good as it gets.
I miss CropleyWasGod.
This! I just can't read his blog posts without getting annoyed at the writing.Quote:
Originally Posted by Smartie
Me too.Quote:
Originally Posted by Smartie
i gave up on John James as he’s clearly has mental health issues.Quote:
Originally Posted by Smartie
PMG seems to have good sources and doesn’t tend to post unless he’s something to say. Don’t mind his writing style but his brand of republican fundamentalism is annoying.
The Scottish Football monitor is well intentioned but is repetitive and feels like it is running out of steam a bit.
as others have said how do you keep up with all things Rangers if the press aren’t doing their job.
Shocker - Hun have a very bad day, 2-3 days later the 'Record' publishes a 'Its about to get bigger and better' article !Quote:
Originally Posted by Ozyhibby
With its proximity to Glasgow International Airport, the casino is bound to be a magnet for all those oil rich arabs that didn't use the Golden Jubilee hospital. Fair play to the weedgies, if health care doesn't bring in the oil dollars, then gambling surely will.Quote:
Originally Posted by Deansy
Just see some Sheikh running through his list of places to go and blow a few million dollars: Las Vegas; Sun City; Govan.
Tough call.
The Morelos / Milan story originated from Italian media.Quote:
Originally Posted by Smartie
Aye, from Giacomo Traynore.Quote:
Originally Posted by Future17
Carlo Collodi, more like.Quote:
Originally Posted by Smartie
I had to google that one, but I like it.Quote:
Originally Posted by Saturday Boy
:aok:
Of course they are.Quote:
Originally Posted by Alan62
I put money into an ISA rather than a normal bank account so that I don't need to pay tax. I know people who pay into a pension scheme to reduce their tax bill now and save tax in the long run (41% relief on the contributions and pay tax at 20/21% when they take the pension). I know businesses who buy a new piece of machinery to get the tax relief and trade in the current item which works fine.
My point remains that there is nothing wrong with tax avoidance when the tax system is written to encourage certain behaviours by providing a tax saving.
The problem arises when smart alecs try to exploit a gap between the wording and the intent of the legislation. They don't all get caught like Huns RIP did.
Anyway, this is in danger of getting political, so I'll bow out now.
No need to bow out. The key word is ‘avoidance’. ISAs and pensions are tax-efficient rather than tax avoidance.
It isn’t just semantics either. As I pointed out both are part of the taxation chain. For it to be tax avoidance, your money has to be removed from taxation altogether - either legally or otherwise.
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Such as putting it in an ISA.Quote:
Originally Posted by Alan62
Eh, naw. The money you put into the ISA has already been subject to the rules of income tax.
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If I put money into an ISA, at the end of the year I get more money added to it, which has not been subject to tax. If I take the interest and put it into another ISA, this second ISA is wholly funded by money which has not been subject to tax. Saying it is 'subject to the rules of income tax' does not disguise the fact that it is wholly untaxed.Quote:
Originally Posted by Alan62
Each person is allowed only 1 cash ISA.
Not so.Quote:
Originally Posted by southsider
......anyway, back on topic from this pish about ISAs
Check this wee beauty out -
https://twitter.com/debbie_napier/st...358237184?s=19
:thumbsup::thumbsup:
Well I suppose you could take out 20,000 cash ISAs in a year if you put a £1 in each.:agree:Quote:
Originally Posted by lapsedhibee
ISAs whether cash or stocks & shares have an annual limit. The investment comes from a taxed environment into a tax free one - it is tax efficient and a govt arrangement. There used to be a clear difference between evasion and avoidance with the former criminal and the latter considered good planning.
Things have moved on due not in the least to contrived, connived and artificial arrangements with the sole purpose of escaping fair taxation. Tax avoidance schemes are now reportable to HMRC so that the likes of dodgy EBTs from dodgy employers should not happen again. The propensity of greedy millionaire celebrities and footballers etc , to invest in film funding LLPs designed to create tax relief rather than produce films, demonstrates the reprehensible view that tax is for the poor to pay and not the rich. Personally I’d say it demonstrates greed and a lack of morals or principles.:greengrin
Not if you use the proceeds of a previous ISA to start a new one it doesn't. In that case it comes from an untaxed environment into a tax free one.Quote:
Originally Posted by malcolm
ISAs started in 1999 and for the first ten years were paying a much higher interest rate than they are now (although annual maximums were much lower). If you have paid in the maximum allowed every year since 1999, you will by now have quite a lot of money which has come from an untaxed environment.
So are they now doing fundraisers? How are the MSM not picking up on this. Sounds like they are in deep deep ****. 🤞🤞🤞Quote:
Originally Posted by green day
I think it is a show/play about Rangers. I saw a poster for it when I was in Glasgow last week.Quote:
Originally Posted by weecounty hibby
Are you sure about 1999? My pal Sandra has a sister called Isa and she was born in 1953...Quote:
Originally Posted by lapsedhibee
[emoji23]Quote:
Originally Posted by hibbyfraelibby
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No it will all have come from a taxed environment and grown in a tax free one. To move to a new one you are simply then moving monies that originated in a taxed environment from one wrapper to another. It is like moving your car to a new parking spot - it is NOT a new car.Quote:
Originally Posted by lapsedhibee
Moving wrappers or cumulatively adding to the same wrapper, assuming the same interest rate, has the same result in a cash ISA. You have moved monies from a taxed environment into a tax efficient one where the growth is not taxed. The money you put in a cash ISA comes from your net taxed income or your capital as subject (within the allowances) to for example to CGT or IGT. It is all from a taxed environment.
Anyway that the taxman has looked less than kindly to avoidance has given us this thread that I’m hoping will offer up a lot more interest to come than currently paid from your average cash ISA. Which is my last word on ISAs:greengrin
I wonder what kind of figure Sevco will be hit with from Astley? Are there any estimates going around ?:confused::confused::confused::confused::confused :
To argue that the tax-free interest on an ISA has come from a taxed environment is like saying that cash-in-hand for a building job is from a taxed environment because the homeowner is paying it out of his PAYEd wages. Ditto the money that Govey pays for his coke. All money is legit. :agree:Quote:
Originally Posted by malcolm
Isa Drennan was born in 1953. Is it her? :dunno:Quote:
Originally Posted by hibbyfraelibby
Could you ISA obsessors take your filthy chat outside, puh-leez!
For those in the know about ISA s. Where can I get one that pays 3 percent or more
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Quote:
Originally Posted by Ronniekirk
https://i.ytimg.com/vi/Dxts5ZgD0a8/maxresdefault.jpg
In your dreams for the time being I'm afraid.Quote:
Originally Posted by Ronniekirk
Boris will sort it [emoji849]Quote:
Originally Posted by JohnMcM
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If you stick it in a decent stocks and shares ISA you could get double that or more.Quote:
Originally Posted by Ronniekirk
Obviously need to add the caveat that they can also go down in value and past performance is no guarantee of future returns .
No...her name is CummingQuote:
Originally Posted by lapsedhibee
You have moved your argument not so much to a new parking place but you’ve now left the car behind and are talking about the added extra alloy wheels! I never said the growth came from a taxed environment just the investment and of course we are talking about moving your own funds from one place to another not a black market under the counter cash in hand payment between 2 parties. This is most certainly my last response on this!!Quote:
Originally Posted by lapsedhibee
Been there tried it But prefer security of a fixed guaranteed return even if locking it away for longer periodQuote:
Originally Posted by Since90+2
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Quote:
Originally Posted by Ronniekirk
Peer to Peer ISA,risk is higher but that is what a higher interest rate is likely to mean I am afraid.
Can we not stop talking about ISA and pensions. I Come on hoping to see bad news about sevco.
Quote:
Originally Posted by PatHead
Sevco are always bad news !
These tiresome ISA posters need a good PEP talk.
johnjamessite today suggesting £6 million. It’s not just SD though there are the court costs of King trying to do the dirty and the costs of Hummel and Elite . Worth a read if you want to see the bigger picture.Quote:
Originally Posted by The Wireless
Not surprised you have adopted archaic terminology :wink:Quote:
Originally Posted by ancient hibee
Rick?Quote:
Originally Posted by The Wireless
Won't be long before there is a Cry For Help......Quote:
Originally Posted by The Wireless
At least he’s never gonna give you up, never going to let you downQuote:
Originally Posted by HoboHarry
Oh here watch out, the pun Polis will Move Right Out of the shadows any time now.....Quote:
Originally Posted by BoomtownHibeys
Sports Direct share price fell by approx 25% following release of latest accounts.
Unsure who will “pop” first, them or Sevco?
https://uploads.tapatalk-cdn.com/201...57b8e4f34a.jpg
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Saw this on Sky last night, Alfredo has Gerrard and rangers over a barrelQuote:
Originally Posted by Ozyhibby
I think it would be more factual to say that Sevco have bent themselves over a barrel.....Quote:
Originally Posted by Billy Whizz
Quote:
Originally Posted by ancient hibee
:agree:
I’m losing interest.
Take it this is nothing to do with them being desperate on money?Quote:
Originally Posted by Ozyhibby
I'm quite sure it is. I imagine Sevco are doing everything they possibly can to punt him....Quote:
Originally Posted by PatHead
Statement o'clock again....
http://club1872.co.uk/news/club-1872...ct-litigation/