Whose assets are they anyway?

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Oddjob 28th October 2015 at 8:10 pm #As I understand …

Comment on Whose assets are they anyway? by The Cat NR1.

oddjob 28th October 2015 at 8:10 pm #As I understand it, Celtic are not “wholly owned by a foreign billionaire” or any other kind of billionaire . That the club has a major shareholder who falls into that category, is nothing out of the ordinary in these days.
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If Celtic are wholly owned by a foreign billionaire, someone at the company has been wasting a fortune sending out all those financial statements and shareholder communications to those that don’t have any ownership, however miniscule.

I’m always astounded to read Delia Smith being described as Norwich City owner, when as with DD she is just the leading shareholder of a properly constituted and fully functioning PLC. How lazy can the press get? (That was rhetorical, of course 03)

The Cat NR1 Also Commented

Whose assets are they anyway?
broganrogantrevinoandhogan 5th November 2015 at 12:31 pm #For those who are interested, here are some comments from afar on the judgement and the sporting consequences.
http://www.accountingweb.co.uk/article/rangers-lose-tax-case-replay/592377
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The analysis from Rob Wilson makes no sense, unless he’s become an unwitting victim of the myth.

There can be no ongoing sanctions as the club no longer exists. The only punishment possible is retrospective, and it would involve expunging all their results from the relevant competitions.


Whose assets are they anyway?
sannoffymesssoitizz 5th November 2015 at 10:57 am #https://rangerstaxcase.wordpress.com/
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The partially complete article from yesterday has been removed, and the previous article from three years ago is again the most recent.


Whose assets are they anyway?
Auldheid 5th November 2015 at 12:10 am #The Cat NR1 5th November 2015 at 12:04 am # Corrupt official 4th November 2015 at 11:35 pm #jimbo 4th November 2015 at 10:15 pm #Sorry, should have more correctly said from a poster on etims       ——————————————————————– Worth pointing out Jimbo, that Mr Adam resigned in Sept 2000, and points to EBT’s being in use up to 5 years previously. http://www.scotsman.com/sport/football/latest/adam-shakes-ibrox-pillars-with-warning-of-bankruptcy-1-595808#axzz3qZFbu9Fl————————————————————I though the DOS wee tax case EBTs started in 1999.
========= They did and there is documented evidence to that effect. There is only Hugh Adams word on prior skulduggery.
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I thought so Auldheid. Thanks for confirming.
So was he implying that they were effectively paying boot money prior to that, or is it more likely that he was just getting confused about the timeline?

In the very unlikely event of the former, we’re moving into uncharted waters and even Bryson would struggle to come up with something other than the classic war crimes excuse of “it was all a very long time ago”.  However, I’m heavily inclined towards the latter and that he was just referring to the DOS EBTs, and given that he passed away nearly three years back we’re not going to get a clarification.


Recent Comments by The Cat NR1

The Day I was on the Scotland U-23 Bench
http://www.bbc.co.uk/sport/football/38428288
It’s nice to see that the BBC is carolling from the SkySports songsheet in the above article.
“OF” mentioned twice and some top level liquidation denial thrown in for good measure.


Peace – Not War
Any chance of this happening in Scotland?
http://www.fsf.org.uk/blog/view/mp-calls-for-government-to-clean-up-game-edm-nov-2016


Peace – Not War
bfbpuzzledDecember 6, 2016 at 20:31
What do the various Rangers have to show for their loans fundamentally hee haw I believe. Nothing has been done to build potential long term income streams via improved facilities or some other projects. It seems that the assets have declined in value and future fixed costs are likely to rise in the form of deferred maintenance. There may be a baldrickian plan and opportunity available for some rich tax pauchler but I do not know what it is -perhaps some advice should be sought.
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I suspect that rather than one of Baldrick’s cunning plans, they will go with the tried and tested Earl Haig’s underpants over the head and pencils up the nostrils. And we all know how that ended up.
It wasn’t the admininistration and liquidation to end all administrations and liquidations though. Deja vu?


Peace – Not War
HomunculusNovember 24, 2016 at 21:2328 Votes 
Using EBTs incorrectly in order to reduce your tax was never a “loophole” it was classic tax avoidance.
Tax avoidance is not and never has been perfectly acceptable as some people would have you believe. That is tax management.
Tax avoidance is using a legitimate scheme, incorrectly, for a purpose which was never intended.
Investing in an ISA is tax management.
Using an EBT to receive contractual payments is tax avoidance.
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That’s heading into tax evasion territory.


Peace – Not War
John Clark
November 25, 2016 at 10:365 Votes 
upthehoopsNovember 25, 2016 at 07:11 “9. …and they all lived happily ever after.” SmugasNovember 25, 2016 at 07:27 “..at a cost (to them) of between £1-3 million per annum. And if they can do that without our contribution..” _____________ But fear not! The 4-year-old club will get a bob or two from the friendly with RB Leipzig in January, and, the rumour mill grinds out, a lucrative sponsorship deal from the owners of that 7-year-old club, none other than Red Bulls.it.  Possibly even a buy-in!
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Would they bring out a special OrangeBull to mark the occasion?
 
500M potential worldwide customers could generate a huge turnover, and with the club/company/engine room subsidiary getting 1p cashback for every 1,000,000 unit sales of OrangeBull that could solve the funding plan (or is it business plan?) gap almost overnight.
 
I’m sure Neil Patey would confirm that to be the case.


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