Small Price to Pay?


NAEGREETIN MARCH 20, 2017 at 12:19 =================================== I suspect the SFA are taking …

Comment on Small Price to Pay? by Homunculus.

MARCH 20, 2017 at 12:19

I suspect the SFA are taking the same line as they did when deciding that they didn’t have to consider if Mr King was “fit and proper”. He doesn’t actually sit on the board of TRFC Ltd, therefore is none of their concern.

However that does beg the question, have they taken the board to task over him behaving as the de facto owner of the club with his statements etc. In fact did he not do a series of about 10 comprehensive “answers” to concerns the fans had. These “answers” were published on the official club website. In what capacity did he do that, people just assumed it was as Chairman / shareholder. 

There could not be a clearer instance of a shadow director, operating in full glare. Quite ironic really.

Anyway, it is really the TRFC Ltd board the SFA should be dealing with and asking for clarity with regards Mr King’s position. They can’t have it both ways. 

Homunculus Also Commented

Small Price to Pay?
MARCH 18, 2017 at 17:43

That would go in the old club column.

Remember, for things they want – same club.

For things they don’t – old club’s problem.

Small Price to Pay?

You’re fine with that, arithmetic is thankfully free from semantics, it is definitive. 

Unless it’s statistics of course, which like valuation is closer to an art (or dark art) than a science. 

Your point is well made though. Calculating the tax is not as simple as taking 40% of the amount paid, if the amount paid is nett rather than gross.

Taking a straightforward 40% of £60 would be £24 underpaid.

Using the proper grossing up method it is £40, £16 more.*

That would make tax due 66.66% higher. 

So if someone had a £500,000 EBT the tax would not be £200,000 it would be £333,333 or thereabouts.

That’s before adding interest at commercial rates from the time when the tax was due and any penalties for avoiding it in the first place. Oh and as you say NI if that’s due as well. You are probably looking at a bill of c£400,000 all told. 

(* in order to generate a nett sum of £60 you would have had to earn £100, so the tax is calculated on that)

Small Price to Pay?
MARCH 18, 2017 at 10:25

If I understand that correctly, all that would do would enable the player to sue the liquidated club which provided the indemnity.

Sounds awfully like throwing good money after bad to me.

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