WaffenThinMint Posted February 22, 2012 Share Posted February 22, 2012 HMRC statement I particularly like this bit: "Any business that regards paying tax as an optional extra after other expenses are met, or that uses tax collected from employees or customers as working capital, is potentially heading for trouble." I think what is of far more significance was the following from the same statement: "There is little HMRC can do for a business - be it a football club or not - whose viability is dependent either on not paying the UK taxes to which they are liable, or on special treatment not available to other customers with similar tax affairs." Seems the closest they've come yet to spelling it out that anyone who thinks they'll cut a deal and let Rangers off with 10p in the £ rather than see them go under is very much mistaken, the reason being that Rangers have so blatantly took the piss out of the tax office out of a sense of entitlement that a firm example needs to be made. 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted February 22, 2012 Share Posted February 22, 2012 Dave King (spotted at Ibrox today chatting with Ally) sounds like the ideal man to take over from Craig Whyte: My link 0 Quote Link to comment Share on other sites More sharing options...
Reynard Posted February 22, 2012 Share Posted February 22, 2012 If, as you argue, that what Craig is doing in this case, and has done many times before, is normal practice, then surely it's a massive indictment of capitalism. What he's effectively doing is hiving off assets that should be reserved for paying off creditors, to buy the club, forcing the club into administration by refusing to pay current PAYE and VAT, getting first dibs on remaining assets as a result of preferred creditor status, and ripping of the other creditors again by paying back x in the pound if a CVA is agreed, or nothing if the company gets liquidated. And it's all perfectly honourable business practice! Move along now, nothing happening here.. No it isn't. He is exploiting a failing business. In a capitalist system failure is simply flushed out of the system and bad investments go down with it. You sound like you have no idea about capitalism whatsoever. If it leaves a gap in the marketplace to exploit then something will fill that gap, whether that happens to be a new club along pretty much the exact same lines or not I have no idea. But something will turn up. The money not going to HMRC is tough titty actually, and I dont care about it whatsoever, the less money they get the better. The money not going to creditors is the actual bit of capitalism that IS working. They decided to do business with Rangers (bad investment) and will subsequently lose money. HMRC can just get to f**k as it is simply a parasitical tick on the body of the free market. -5 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted February 22, 2012 Share Posted February 22, 2012 No it isn't. He is exploiting a failing business. In a capitalist system failure is simply flushed out of the system and bad investments go down with it. You sound like you have no idea about capitalism whatsoever. If it leaves a gap in the marketplace to exploit then something will fill that gap, whether that happens to be a new club along pretty much the exact same lines or not I have no idea. But something will turn up. The money not going to HMRC is tough titty actually, and I dont care about it whatsoever, the less money they get the better. The money not going to creditors is the actual bit of capitalism that IS working. They decided to do business with Rangers (bad investment) and will subsequently lose money. HMRC can just get to f**k as it is simply a parasitical tick on the body of the free market. That's like saying if you don't lock your door you deserve to be burgled, and the thief is just doing his bit for law and order. 0 Quote Link to comment Share on other sites More sharing options...
Saints Bevy Squad Posted February 22, 2012 Share Posted February 22, 2012 0 Quote Link to comment Share on other sites More sharing options...
EdinburghPar1975 Posted February 22, 2012 Share Posted February 22, 2012 Just noticed that Pompey have made 30 people redundant since going into admin 6 days ago. Are Duff and Phelps hoping that Dave King or A N Other come in and save the day...or do we expect that very few players will leave and everything will miraculously resolve itself in a few weeks...with all the debt gone? 0 Quote Link to comment Share on other sites More sharing options...
strathavenarab Posted February 22, 2012 Share Posted February 22, 2012 No it isn't. He is exploiting a failing business. In a capitalist system failure is simply flushed out of the system and bad investments go down with it. You sound like you have no idea about capitalism whatsoever. If it leaves a gap in the marketplace to exploit then something will fill that gap, whether that happens to be a new club along pretty much the exact same lines or not I have no idea. But something will turn up. The money not going to HMRC is tough titty actually, and I dont care about it whatsoever, the less money they get the better. The money not going to creditors is the actual bit of capitalism that IS working. They decided to do business with Rangers (bad investment) and will subsequently lose money. HMRC can just get to f**k as it is simply a parasitical tick on the body of the free market. One of the silliest things i have ever read on the internet....what a fud. 0 Quote Link to comment Share on other sites More sharing options...
chico Posted February 22, 2012 Share Posted February 22, 2012 Just noticed that Pompey have made 30 people redundant since going into admin 6 days ago. Are Duff and Phelps hoping that Dave King or A N Other come in and save the day...or do we expect that very few players will leave and everything will miraculously resolve itself in a few weeks...with all the debt gone? Nothing as exciting as that, I think McCoist had went to the administrators with an offer from the first team squad to accept lower wages in order that the other employees don't have to accept cuts or redundancy. One bit of decency in this whole mess. 0 Quote Link to comment Share on other sites More sharing options...
Reynard Posted February 22, 2012 Share Posted February 22, 2012 One of the silliest things i have ever read on the internet....what a fud. It will just be going to fund the Greek army anyway. -4 Quote Link to comment Share on other sites More sharing options...
Owsley Posted February 22, 2012 Share Posted February 22, 2012 Yeah it maybe was integral to the purchase of the club. But the actual club, complete with debt ,was bought for £1. That is the normal way of doing these things anyway. The bank debt was then paid off with the Ticketus money and I'm quite sure the bank weren't giving a flying f**k where that money came from as long as it pinged into their account. From that point on they wash their hands of the whole thing and f**k off. I can't see anything illegal in what he has done. Unethical, dodgy, dubious, fly by night and all the rest of it, yes. But not illegal. Whyte isn't doing anything that plenty of other of his sort do on a daily basis, the only difference is that he is doing it in the spotlight and he surely knew it and consequently doesn't give a f**k. He will do whatever it is he is doing and will f**k off abroad if he hasn't already. “My corporate advisors came to me with the proposition that it was entirely possible, as well as highly beneficial, to negotiate a deal with Ticketus that would allow us to complete the takeover and maximise working capital for the club’s day-to-day business You're probably correct, the fact that Whyte now finally admits the true nature of the Ticketus deal means that the chances of it being illegal are probably nil, though several papers today seem to think there is a potential of a stay in the big hoose. 0 Quote Link to comment Share on other sites More sharing options...
FTOF Posted February 22, 2012 Share Posted February 22, 2012 I'm sure I read on here that Whyte has done nothing illegal so far. HMRC seem to disagree. A spokesman for HMRC said: "We can't discuss specific cases for legal reasons, but tax that has been deducted at source from the wages of players and support staff, such as ground keepers and physios, must be paid over to HMRC. "Any business that fails to meet that basic legal requirement puts the survival of the business at risk." 0 Quote Link to comment Share on other sites More sharing options...
Reynard Posted February 22, 2012 Share Posted February 22, 2012 That's like saying if you don't lock your door you deserve to be burgled, and the thief is just doing his bit for law and order. It's not actually anything like that. Pish analogy. 0 Quote Link to comment Share on other sites More sharing options...
strathavenarab Posted February 22, 2012 Share Posted February 22, 2012 It will just be going to fund the Greek army anyway. Yeah I'm sure hospitals and schools are building themselves these days. 0 Quote Link to comment Share on other sites More sharing options...
TheLip69 Posted February 22, 2012 Share Posted February 22, 2012 murray's shareholding cost £1 to buy. i don't think the ticketus money was required for that. paying off lloyds and refinancing with ticketus is a seperate matter. Not quite, the deal for £1 was on the proviso that the buyer could prove he had the cash to pay off Lloyds. Whyte mortgaged the season tickets got the cash from Ticketus and showed Murray the statement showing the cash from Ticketus. Deal gets done, with Murray, we suppose, none the wiser as to how Whyte had raised th cash. In other words Whyte mortgaged part of the club, which was not his to mortgage, to convince Murray he had the wherewithal to do the deal. 0 Quote Link to comment Share on other sites More sharing options...
Enigma Posted February 22, 2012 Share Posted February 22, 2012 There is an article in the back of the latest Private Eye. Has anybody else read it? 0 Quote Link to comment Share on other sites More sharing options...
EdTheDuck Posted February 22, 2012 Share Posted February 22, 2012 There is an article in the back of the latest Private Eye. Has anybody else read it? No You should type it up here word for word because I don't want to wait until it's put up online 0 Quote Link to comment Share on other sites More sharing options...
Enigma Posted February 22, 2012 Share Posted February 22, 2012 No You should type it up here word for word because I don't want to wait until it's put up online You don' have to... Link 0 Quote Link to comment Share on other sites More sharing options...
Sergeant Wilson Posted February 22, 2012 Share Posted February 22, 2012 I'm sure I read on here that Whyte has done nothing illegal so far. HMRC seem to disagree. A spokesman for HMRC said: "We can't discuss specific cases for legal reasons, but tax that has been deducted at source from the wages of players and support staff, such as ground keepers and physios, must be paid over to HMRC. "Any business that fails to meet that basic legal requirement puts the survival of the business at risk." They don't say what he did was illegal. The legal reasons are the same as why they won't disclose your tax details. It's about data protection. 0 Quote Link to comment Share on other sites More sharing options...
EdTheDuck Posted February 22, 2012 Share Posted February 22, 2012 You don' have to... Link Good lad and never thought I'd say it but 'thanks verra much Kerrydalestreet' 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted February 22, 2012 Share Posted February 22, 2012 Mark Daly's doing piece on Newsnight Scotland again tonight. Might have to run out for more popcorn... 0 Quote Link to comment Share on other sites More sharing options...
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