SFM Podcast #6: Dave King & Oldco

Avatar By

My emailed letter (no need for a stamp, Woodstein, but …

Comment on SFM Podcast #6: Dave King & Oldco by neepheid.

My emailed letter (no need for a stamp, Woodstein, but thanks for the offer) which I sent this morning to the editor of the Daily Record. The final sentence is an attempt at irony, by the way.

Dear Sir

I wish to point out a factual inaccuracy in this article- http://www.dailyrecord.co.uk/sport/football/football-news/old-rangers-board-signed-deal-6510560

The relevant paragraph reads as follows-

“The club went into administration and subsequent forced liquidation by HMRC over a “phantom” £80million tax bill, The club were later cleared of having ever owed the taxman”

The “club” were, of course, put into administration for failing to pay over to HMRC several months PAYE tax and VAT. The “Big Tax Case” is still in the appeals process, so the “club” haven’t been cleared of anything yet, and even if they eventually win on all outstanding appeal points, there will still be over £20m owed to HMRC. That sum is not in dispute, and was the reason for RFC entering administration.

To say that “the club were later cleared of having ever owed the taxman” is clearly untrue. Here is a link to the liquidators’ report of last November-

http://www.bdo.co.uk/__data/assets/pdf_file/0009/879165/Rangers-Creditors-Circ-13-November-2014.pdf

From that report-

“5. EBT
As previously reported to creditors, HMRC appealed
the First Tier Tribunal (“FTT”) decision in
respect of the EBT Scheme previously operated by th
e Company, commonly known as the “Big
Tax” case. The Big Tax case represents c£72m of the
£94m claim submitted by HMRC in the
Liquidation proceedings, and may therefore have a ma
terial impact on the dividend payble to
unsecured creditors.”

So the HMRC claim was £92m, of which £72m is subject to an ongoing appeal process, and £22m is undisputed. It is impossible to reconcile these facts with the statement in your article that “the club were later cleared of ever owing the taxman”. On any construction the taxman is owed between £22m and £94m, the precise sum being contingent on an unfinished appeals process, but in any event not less than £22m.

Please let me when a correction is published. I really do expect better from a reputable newspaper.

Yours faithfully

Would there be any value in future in some sort of communal response from SFM to this sort of garbage? That might carry more weight than my ravings.

neepheid Also Commented

SFM Podcast #6: Dave King & Oldco
The Daily Record has really excelled itself this morning on the history rewrite project they embarked on 3 years ago.

The club went into administration and subsequent forced liquidation by HMRC over a “phantom” £80million tax bill, The club were later cleared of having ever owed the taxman

The “club” were, of course, put into administration for failing to pay over to HMRC several months PAYE tax and VAT. The “Big Tax Case” is still in the appeals process, so the “club” haven’t been cleared of anything yet, and even if they eventually win on all outstanding appeal points, there will still be over £20m owed to HMRC. That sum is not in dispute.

This is just a series of blatant lies from the Record, clearly aimed at feeding the victim mentality among the Ibrox fans, most of whom will (understandably enough) take this garbage at face value, and as concrete evidence of how badly they have been treated.

I am writing today to the editor of this disgraceful rag, demanding that a correction be published. I’ll be astonished if I get a response, but I’ll post it here if I do.

http://www.dailyrecord.co.uk/sport/football/football-news/old-rangers-board-signed-deal-6510560


SFM Podcast #6: Dave King & Oldco
http://t.co/F9oIkQQ5zy

An English case (Coulson) regarding payment of a director’s legal fees.

“News Group ordered to pay Coulson’s legal costs – implications of the judgment”


SFM Podcast #6: Dave King & Oldco
Following my earlier post, this is from the Record last night-

http://www.dailyrecord.co.uk/news/scottish-news/rangers-deny-charles-green-contacted-6501960

“Rangers deny Charles Green has contacted them in a bid to have the club pay his ongoing legal fees ”

I wonder whether anyone in the SMSM will raise any questions regarding the apparent discrepancy here? Perhaps Sports Journalist of the Year Mr Keith “Radar” Jackson could enlighten us?


Recent Comments by neepheid

It Is Better To Offer No Excuse Than A Bad One
Here is a fuller address for Ibrox Park Holdings- https://opencorporates.com/statements/121234211
Ibrox Park Holdings LimitedAddress2nd Floor, 625 Kings Road North PointCountry CodeHK


It Is Better To Offer No Excuse Than A Bad One
For those interested in Ibrox Park Holdings, this link may help- http://www.bizdb.co.nz/company/9429033711843/
The link is to a NZ company, Youtap Ltd, which has Ibrox Park Holdings as one of its shareholders, with a Hong Kong address.

Shares Allocation #19 Number of Shares: 194806OtherIbrox Park Holdings LimitedNorth Point
 Hong Kong SAR China10 May 2013 –


The Vice Closes
It seems that Broadfoot’s amateur hour PR ploy of leaking a 5 year old confidential letter from Celtic to the SFA has spectacularly backfired. Now it’s all out in the open- and having first broken confidence themselves, the SFA cannot complain about that.
Celtic’s 5 year restraint, in keeping their dealings with the SFA confidential, cost them a lot, not just my season ticket money, but  doubtless the money of a few others besides, plus, and more importantly, the erosion by many others of their faith in the club they have loved all their lives.
Now Regan is staring at the abyss. As I posted yesterday, even the leaking of Celtic’s 2012 letter would, in itself, finish him in any normal association. Can he now do anything other than resign? He faces pressure from the SPFL for an enquiry. He faces a Judicial Review which could extend to all shenanigans going back 10 years and more.
Even his own Compliance Officer, who I assume is a solicitor with something to lose professionally, will shortly be opening a few rusty old filing cabinets in Ogilvie’s old room. I was going to say look under the carpet, but that really is a stretch for an internal enquiry.
On a personal level, I can now resume my relationship with CFC, happy in the knowledge that my club were not ignoring the corruption, but challenging it in a professional manner. That feels very good indeed, believe me.


The Vice Closes
If it is correct that Celtic’s 5 year old letter to the SFA was leaked to The Times by the SFA’s former employee and current PR guru, Mr Broadfoot, presumably as the opening shot in a “divide and rule” campaign, then the SFA have some serious questions to answer.
Is that how a competent governing body treats one of its members? A leak of private correspondence? Really? Celtic should kick up such a stooshie about this leak that the instigator (and you can be sure that Broadfoot is only carrying out instructions) is identified and booted out of Scottish football.
There are clearly individuals within the SFA who think that they can act as they like with total impunity. They have learned nothing from the Farry episode. It’s time they were taught a lesson once and for all.  


Time for Scots Government to Take Bull by the Horns
DarkbeforedawnJuly 9, 2017 at 15:55  
The Rangers Tax Case was seen as a test study into EBTs in football, and many media outlets think this is the tip of the iceberg, particularly in England. Surely the SFA should consult with their cross border counterparts on what actions may be taken? Arsenal have already settled an EBT case for their title winning year, so if we are applying the logic Rangers should have titles stripped because they were using illegal means of paying their players, surely Arsenals league titled should be taken away? And what if a number of other big fish in England are found guilty?
++++++++++++++++++++++++++++++++++++
All English clubs involved either already have, or very soon will, reach settlements with HMRC. Nobody is going to court, because they aren’t stupid enough or arrogant enough to assume that they can win in the face of the facts, just because of who they are.
It was open to Rangers to correct matters by being open and honest with HMRC, and paying up, but firstly they didn’t see why they should, and secondly, they had no way of paying.
The fact that Rangers evaded more tax than they could subsequently repay just highlights the industrial scale of what went on at that club.
If the English clubs involved  took it a step further, as Rangers did, and concealed EBT payments from the FA, or had undisclosed side letters as part of players’ contracts, then of course the FA should take action.
The footballing offence is not tax evasion as such, but false reporting to the SFA of payments to players, and failure to lodge correct player contract details with the SFA.
What the SC judgement blows away totally is the “no sporting advantage” reasoning of LNS. Other clubs could not save on PAYE by using the EBT payment method. That is now an established fact.  
I’m pretty sure that industrial scale tax evasion could, in fact probably should, also lead to footballing charges along the lines of “bringing the game into disrepute”, but it will be snowing hard in hell the day that the SFA take that line with any club playing out of Ibrox.


About the author

Avatar