Three Shakes … and a Twist

By

Goosygoosy says: Monday, October 29, 2012 at 21:21 It’s my understanding that …

Comment on Three Shakes … and a Twist by Agrajag.

goosygoosy says:
Monday, October 29, 2012 at 21:21

It’s my understanding that Octopus create a load of companies called Ticketus (XXX). That makes it easier to finalise the whole thing when the company has run for long enough to enable the tax benefits to be permanent, or some other such chicanery. I even heard that they set up a new one for each deal, but I don’t know if that is the case.

Agrajag Also Commented

Three Shakes … and a Twist
rangerstaxcase says:
Monday, October 29, 2012 at 23:06

I have always thought that they would take the full amount paid into the players’ sub trusts as being inclusive of tax. However it surely depends on the agreement the player had with the club. If that said the player would get £X after tax, then surely that means it should be calculated as the tax on that amount, rather than that amount already including the tax. I believe they call that “netto” in football nowadays.

I am sure the decision itself will go into the details of how that calculation was made, by HMRC, and whether the tribunal panel agreed it.


Three Shakes … and a Twist
Lord Wobbly says:
Monday, October 29, 2012 at 22:01

I have said on several occasions that if the circumstances are right then HMRC can and will chase individuals in order to get their money from those individuals assets particularly if the company which owes them tax doesn’t have any. HMRC have become much keener on that in recent years as the pressure is on to recover funds. I also wouldn’t exclude criminal proceedings. As we know COPFS have instructed Strathclyde Police to look into matters.

Oh and remember our friend Mr Cohen.

“Malcolm leads the firms’ Contentious Insolvency Team, this team is dedicated to recovering assets through litigation, cross border investigations and uncovering fraud.”


Three Shakes … and a Twist
Charles has actually added to the list of reasons Rangers are a considered a new club by Scottish football.

Needed to get a registration transferred to them as they didn’t have one

Needed to apply for a place in the SFL

Not seeded in the Scottish Cup, which a team in the SPL the previous year is.

Not paid the money Rangers “earned” the previous year as it wasn’t theirs.


Recent Comments by Agrajag

The Real Battle Begins?
If they raise money through the floatation, use that to renovate the stadium and re-build the club, get it back to the SPL and competing in Europe then it will be a much more attractive sale. Particularly if it is debt free.

The holding company can then sell the club, 100% of it, without any pesky fans in the way.

The fans will then have shares in a business which they have no interest in. They are not buying shares in their club, they are buying shares in a company which could quite easily sell their club some time in the future.


The Real Battle Begins?
goosygoosy says:
Saturday, December 8, 2012 at 16:07

————————————

A disclaimer regarding the asbestos risk, and no sight of the title deed does not seem to be a very thorough valuation.

———

Condition of Buildings

Our inspection of the subjects did not constitute a structural survey nor did we inspect woodwork or other parts of the structure which were covered, unexposed or inaccessible. Also, the various services have not been tested and we are not in a position, therefore, to report that any of the properties are free from defects.

We have not had sight of an Asbestos Risk Assessment relative to the subjects and cannot report that they are free from risk in this respect. Accordingly, we have made the assumption that such an investigation would not disclose the presence of any such material in any adverse situation or condition.

————–

But bear in mind this is a Depreciated Replacement Cost, as I understand it, how much it would cost to rebuild the stadium, as opposed to a value if they were to sell it.

————-

IBROX STADIUM, 150 EDMISTON DRIVE, GLASGOW

Total value, calculated on a Depreciated Replacement Cost
basis –

£65,200,000 (SIXTY FIVE MILLION TWO HUNDRED THOUSAND POUNDS)
allocated as –

Buildings
£61,500,000 (SIXTY ONE MILLION FIVE HUNDRED THOUSAND POUNDS)

Land
£3,700,000 (THREE MILLION SEVEN HUNDRED THOUSAND POUNDS)


The Real Battle Begins?
Release the prospectus and announce the controversial Traynor appointment at the same time.

Hmmm!


The Real Battle Begins?
Yes Jim, your peurile spat with Chic live on radio was really professional and uplifting.

Oh and Rangers did cheat the tax man, out of at least £20m, and they did hide records, and procrastinate, and they did try to mislead and conceal. And they did do the same with the Scottish football authorities.

You were wrong, again.


The Real Battle Begins?
Can “The SPL” actually just change it’s basic structure.

I thought The SPL was the members, the teams in it. So in order to change anything they would have to vote on it and agree that new structure.

That would be the same teams who voted that Rangers could not be forced into the SPL not that long ago. Do people think that has changed significantly, or that the supporters of those clubs would feel any differently than a few months ago.


About the author