The Rangers soap opera goes on and on.

[Mikey1874]

Crown and Police arsing up their evidence gathering in what became the case that ended with the Whyte not guilty verdicts was unfortunate.

 

But maybe other redress will bring out the full story and the main wrongdoing.

[WorldChampions1902]

Popcorn sales about to reach unprecedented levels, I reckon.

 

Delicious.

[CJGJ]

Aidan Earley's comments about a legal claim from yesterday, implicating D&P. 

 

https://www.aidanearley.org/news/

 

 

This could have some way to run if the above is true.

 

Is this the same person who was banned from being a director in all companies bar Sevco 5088 Limited ?

 

http://www.heraldscotland.com/news/13160868.Whyte_partner_banned_after_probe_into___2m_asset_switch/

 

 

http://www.sportingintelligence.com/2012/02/15/exclusive-rangers-mystery-deepens-over-whyte-links-to-former-jailbird-associate-150201/

Edited July 23, 2017 by CJGJ

[Turkishcap]

Not followed this as close as some so excuse this simple question from afar....have at any stage the people who run our game commented publicly on this since 2012? Cos as has been mentioned if it was HMFC........

[Footballfirst]

Is this the same person who was banned from being a director in all companies bar Sevco 5088 Limited ?

 

http://www.heraldscotland.com/news/13160868.Whyte_partner_banned_after_probe_into___2m_asset_switch/

 

http://www.sportingintelligence.com/2012/02/15/exclusive-rangers-mystery-deepens-over-whyte-links-to-former-jailbird-associate-150201/

Yes.

Edited July 23, 2017 by Footballfirst

[kingdannyb]

BDO will now also pursue more than 80 former players and staff, like Murray and former club captain Barry Ferguson, who benefited from an elaborate tax avoidance scheme ? Employee Benefit Trusts, which the Supreme Court ruled were disguised salary payments.

 

The recipients will be forced to pay back millions of pounds to the HMRC through BDO or face bankruptcy.

[Coburg Hearts]

Aidan Earley's comments about a legal claim from yesterday, implicating D&P. 

 

https://www.aidanearley.org/news/

 

 

This could have some way to run if the above is true.

 

Might this explain why HMRC didn't object to D&P being appointed as administrators?

[MacDonald Jardine]

John James spot on, in my view, today:

 

https://johnjamessite.com

Seriously?

A Masonic conspiracy that he supports Rangers in keeping their titles and in return Aberdeenshire councillors give planning permission for the new ground?

What a crock.

 

Sent from my SM-G930F using Tapatalk

[Diadora Van Basten]

BDO will now also pursue more than 80 former players and staff, like Murray and former club captain Barry Ferguson, who benefited from an elaborate tax avoidance scheme ? Employee Benefit Trusts, which the Supreme Court ruled were disguised salary payments.

 

The recipients will be forced to pay back millions of pounds to the HMRC through BDO or face bankruptcy.

Strange as the BBC article prior to the Supreme Court case said that it would good news for the receiptients of EBTs if HMRC won as they wouldn't go after the individuals.

[milky_26]

Strange as the BBC article prior to the Supreme Court case said that it would good news for the receiptients of EBTs if HMRC won as they wouldn't go after the individuals.

wasn't that saying HMRC would not go after the individuals for the tax that would be due.  The way i read the quote dannyB posted is that BDO are considering calling in the loans that it is believed the EBTs were viewed as.

[marshallschunkychicken]

wasn't that saying HMRC would not go after the individuals for the tax that would be due. The way i read the quote dannyB posted is that BDO are considering calling in the loans that it is believed the EBTs were viewed as.

That would be interesting as the loans were made from a trust. Once the money went to the trust from Rangers it became the property of the trust, so BDO would have no claim on it or the loans made from the trust as far as I understand.

[Diadora Van Basten]

wasn't that saying HMRC would not go after the individuals for the tax that would be due. The way i read the quote dannyB posted is that BDO are considering calling in the loans that it is believed the EBTs were viewed as.

I can't see BDO being successful as it has now been proved legally that the payments were disguised remuneration and PAYEable.

 

Would love to see it though.

[buzzbomb1958]

Crooked sfa sevco the lot Sfa knows they oldco go down they all go down ,I say to Regan and his fellow pigs you are scum ,crooks if I'm wrong sue me I dare you in a court you'd be found out robbers everyone of you

[jambovambo]

http://www.dailyrecord.co.uk/sport/football/football-news/sfa-spfl-might-not-able-10853969

 

SFA and SPFL might not be able to ignore Scottish fans for much longer

[Ray Gin]

BDO will now also pursue more than 80 former players and staff, like Murray and former club captain Barry Ferguson, who benefited from an elaborate tax avoidance scheme ? Employee Benefit Trusts, which the Supreme Court ruled were disguised salary payments.

 

The recipients will be forced to pay back millions of pounds to the HMRC through BDO or face bankruptcy.

 

 

One would hope that said players would then in turn sue Rangers.

[Deevers]

I can't see BDO being successful as it has now been proved legally that the payments were disguised remuneration and PAYEable.

Would love to see it though.

 

Don't know about that. If your employer mucks up your PAYE payments' it's you that gets the demand from HMRC not them. All of these shysters were aware that this was a "tax avoiding" scheme. I would love to see them all squeezed for every penny due.

[269miles]

I can't see BDO being successful as it has now been proved legally that the payments were disguised remuneration and PAYEable.

 

Would love to see it though.

I can't see how BDO would have any legal powers (or interest) in doing this. If tax/NIC is due, it's due to HMRC not BDO. All this would do is delay further the payments due to the long suffering creditors (assuming there is any money left after 5 years of BDO fees). HMRC would have to be involved as they would calculate the interest and set the penalties to be applied - not BDO. HMRC could not disclose this to BDO due to strict confidentiality rules. 

Edited July 24, 2017 by 269miles

[Cairneyhill Jambo]

The first rat to be flushed out of the hole

 

http://www.heraldscotland.com/news/15429959.Former_Rangers_star_Barry_Ferguson_declared_bankrupt_with_debts_of_more_than___1_4_million/

 

Former Rangers star Barry Ferguson declared bankrupt with debts of more than ?1.4 million

 

FORMER Rangers star Barry Ferguson has been made bankrupt with debts of more than ?1.4 million.

The ex-Scotland captain was declared insolvent after failing to settle large bills thought to be owed to the taxman.

He is one of a number of former Ibrox stars who faced paying back money they had received in Employee Benefit Trusts (EBTs) after Rangers lost a battle with HMRC at the Supreme Court earlier this month.

Ferguson, 39, who recently stepped down as manager of Clyde, received ?2.5 million in EBT payments.

 

He also invested in a film production partnership called Eclipse which has targeted by HMRC after being ruled to be a tax avoidance scheme.

Ferguson applied for his own bankruptcy after running up debts of ?1,425,633 and it was approved by the Accountant In Bankruptcy, Scotland's insolvency service, earlier this month.

A bankruptcy trustee, Maureen Leslie of Glasgow-based insolvency specialists MLM Solutions, has been appointed to take control of his assets and try to recover money owed to creditors. She said she did not comment on individual cases.

Ferguson, who lives in a gated mansion near Larkhall, Lanarkshire, has declared that he has only ?3,000 worth of assets available to help pay off his creditors.

The so-called Rangers 'big tax case' centred on the use of EBTs. More than ?47million was paid to players, managers and directors between 2001 and 2010 in tax-free loans.

Earlier this month judges found that 'loans' paid to players and staff were in fact taxable earnings, in a decision that brought to a close legal proceedings that have dragged on for years.

 

 

Edited July 24, 2017 by Cairneyhill Jambo

[John Findlay]

Still the GBC will make sure he has a bob or two for spouting shite on the radio.

[davieholt]

I can't see how BDO would have any legal powers (or interest) in doing this. If tax/NIC is due, it's due to HMRC not BDO. All this would do is delay further the payments due to the long suffering creditors (assuming there is any money left after 5 years of BDO fees). HMRC would have to be involved as they would calculate the interest and set the penalties to be applied - not BDO. HMRC could not disclose this to BDO due to strict confidentiality rules. 

 

As I understand it, since the scheme was administered illegally, HMRC will look through the trust to old Rangers. Old Rangers should have paid the tax and HMRC will be calling on BDO as liquidators to stump up on RFC's behalf. BDO will now be going after the recipients to return the cash so they can pay HMRC. If this is not paid HMRC could go after the players directly.

 

I may be wrong (I usually am) but this works in my head.

[Footballfirst]

I'm sure that there will be more to follow Feguson to the bankruptcy court.

[Jodami]

 

The first rat to be flushed out of the hole

 

http://www.heraldscotland.com/news/15429959.Former_Rangers_star_Barry_Ferguson_declared_bankrupt_with_debts_of_more_than___1_4_million/

 

Former Rangers star Barry Ferguson declared bankrupt with debts of more than ?1.4 million

 

FORMER Rangers star Barry Ferguson has been made bankrupt with debts of more than ?1.4 million.

The ex-Scotland captain was declared insolvent after failing to settle large bills thought to be owed to the taxman.

 

He is one of a number of former Ibrox stars who faced paying back money they had received in Employee Benefit Trusts (EBTs) after Rangers lost a battle with HMRC at the Supreme Court earlier this month.

Ferguson, 39, who recently stepped down as manager of Clyde, received ?2.5 million in EBT payments.

 

He also invested in a film production partnership called Eclipse which has targeted by HMRC after being ruled to be a tax avoidance scheme.

Ferguson applied for his own bankruptcy after running up debts of ?1,425,633 and it was approved by the Accountant In Bankruptcy, Scotland's insolvency service, earlier this month.

A bankruptcy trustee, Maureen Leslie of Glasgow-based insolvency specialists MLM Solutions, has been appointed to take control of his assets and try to recover money owed to creditors. She said she did not comment on individual cases.

Ferguson, who lives in a gated mansion near Larkhall, Lanarkshire, has declared that he has only ?3,000 worth of assets available to help pay off his creditors.

The so-called Rangers 'big tax case' centred on the use of EBTs. More than ?47million was paid to players, managers and directors between 2001 and 2010 in tax-free loans.

Earlier this month judges found that 'loans' paid to players and staff were in fact taxable earnings, in a decision that brought to a close legal proceedings that have dragged on for years.

 

 

 

Happy days! First of many hopefully.

[John Findlay]

I don't rejoice in anyone going bankrupt. But, I can't help thinking he only has himself to blame. As do others that may follow.

[Bazzas right boot]

Feels like Barry seen this coming.

 

Asset transfer everything to friends/ family and to cash were possible.

 

Get declared bankrupt.

 

Can't get chased.

 

In time, gets his big stash oot and lives a comfortable life, but can't get chased as he has little assets.

 

It stinks a bit, tbh.

Edited July 24, 2017 by Rudi'sleftfoot

[mrmarkus1981]

Level of debt ?1,425,633

 

Level of assets ?3000

 

Yeah right!!! It's loophole city for this lot!!

[Seymour M Hersh]

I'm sure that there will be more to follow Feguson to the bankruptcy court.

 

After hiding their cash under the mattress no doubt.

[kingdannyb]

I feel sorry for him personally, he's just a classic thick footballer.

He should have been able to trust one of the most famous clubs in the world with his wages.

Murray is the one who should be bankrupt and homeless.

[buzzbomb1958]

I feel sorry for him personally, he's just a classic thick footballer.

He should have been able to trust one of the most famous clubs in the world with his wages.

Murray is the one who should be bankrupt and homeless.

Don't feel sorry for him one little bit serves him and everyone else who tried to stiff the taxman greedy barstewards the lot of them,how much money is enough

[Alex MacDonald]

?3000 assets? Whilst living in a gated mansion in Larkhall? Of course Barry. Tax dodging is in your DNA.

[Jamboelite]

The whole thing stinks but I take no joy in people who are truly bankrupt however anyone who uses it as a vehicle to avoid paying deserve all they get.

Edited July 24, 2017 by Jamboelite

[Tommy Brown]

Just wonder if he is one of the players who got ripped off by the Edinburgh boy McIndoe.

 

He is doing an awfully good job in losing his wealth all the same, Lost a lot in Movie production.

 

If genuinely bankrupt, I don't take any pleasure in reading it, 

[jamboz]

No sympathy for anyone that was given a side letter. That's a red flag that something is dodgy and makes you complicate in my book.

[jambovambo]

No sympathy for anyone that was given a side letter. That's a red flag that something is dodgy and makes you complicit in my book.

Fixed your typo - unintentional, I'm sure

[I.T.K]

?3000 assets? Whilst living in a gated mansion in Larkhall? Of course Barry. Tax dodging is in your DNA.

 

 

I wonder which off shore company owns the gated mansion. 

[buzzbomb1958]

Looks like newco are being chased for millions by the guys who bought whytes company wavetower I sincerely hope this is true ,how many court cases will that be

[JamboAl]

As I understand it, since the scheme was administered illegally, HMRC will look through the trust to old Rangers. Old Rangers should have paid the tax and HMRC will be calling on BDO as liquidators to stump up on RFC's behalf. BDO will now be going after the recipients to return the cash so they can pay HMRC. If this is not paid HMRC could go after the players directly.

 

I may be wrong (I usually am) but this works in my head.

That seems a correct analysis of the situation and, if BDO cannot stump up, it's right that the players etc should pay as they got the benefit.  Otherwise the man in the street is having to pay their tax indirectly.

[Footballfirst]

I wonder if I can buy his history, titles and medals ...................

 

............  or maybe he intends resurrecting his career as "The Barry Ferguson" and claim them as his own.

[Brave Hearts]

I don't rejoice in anyone going bankrupt. But, I can't help thinking he only has himself to blame. As do others that may follow.

Don't think he is a genuine bankrupt so he doesn't deserve any sympathy. He is using the system so that he can avoid paying the pending EBT tax bill or to pay back the EBT Loan.

 

After David Murray/Fraser, he is the biggest recipient of an EBT Loan.

 

Wonder if his 'gated' mansion is in his wife's name ?

Edited July 24, 2017 by Brave Hearts

[Jodami]

Will be interesting to see what he has done here. Transferring your assets before bankruptcy is not straightforward so I wonder who is advising him. As he is clearly an idiot it would be no surprise to see him acting illegally.

[1953]

I wonder if I can buy his history, titles and medals ...................

 

............  or maybe he intends resurrecting his career as "The Barry Ferguson" and claim them as his own.

Like it FF!

[Footballfirst]

Chris McLaughlin?Verified account @BBCchrismclaug

 

#Hibs chairman Rod Petrie emerges from #SPFL AGM and confirms new board will review Rangers' use of EBTs following Supreme Court verdict

 

------------------------

That's a surprise

[jambovambo]

Chris McLaughlin?Verified account @BBCchrismclaug

 

 

 

 

 

#Hibs chairman Rod Petrie emerges from #SPFL AGM and confirms new board will review Rangers' use of EBTs following Supreme Court verdict

 

------------------------

That's a surprise

 

"Ok let's review the EBT case"

 

"Right, that's enough ... pint?"

Edited July 24, 2017 by jambovambo

[JamboAl]

Don't think he is a genuine bankrupt so he doesn't deserve any sympathy. He is using the system so that he can avoid paying the pending EBT tax bill or to pay back the EBT Loan.

 

After David Murray/Fraser, he is the biggest recipient of an EBT Loan.

 

Wonder if his 'gated' mansion is in his wife's name ?

I hope for his sake she doesn't leave him.

[JamboJen]

Don't think he is a genuine bankrupt so he doesn't deserve any sympathy. He is using the system so that he can avoid paying the pending EBT tax bill or to pay back the EBT Loan.

 

After David Murray/Fraser, he is the biggest recipient of an EBT Loan.

 

Wonder if his 'gated' mansion is in his wife's name ?

Probably his dog's. Folk involved in football seem to had a lot of financially savvy pets.

[269miles]

As I understand it, since the scheme was administered illegally, HMRC will look through the trust to old Rangers. Old Rangers should have paid the tax and HMRC will be calling on BDO as liquidators to stump up on RFC's behalf. BDO will now be going after the recipients to return the cash so they can pay HMRC. If this is not paid HMRC could go after the players directly.

 

I may be wrong (I usually am) but this works in my head.

Haven't HMRC already done this ? Genuine question ? I thought HMRC was listed as one of RangersRIP creditors. I can't see HMRC going after BDO / Rangers : they are not goiing to get anything. HMRC need to pursue the individuals (which in Bazza's case, seems to be the case). 

[Strachsuit]

Chris McLaughlin?Verified account @BBCchrismclaug

 

#Hibs chairman Rod Petrie emerges from #SPFL AGM and confirms new board will review Rangers' use of EBTs following Supreme Court verdict

 

------------------------

That's a surprise

 

Good news but you really do wonder how much this "review" will entail. 

[Footballfirst]

Good news but you really do wonder how much this "review" will entail. 

Well there's obviously a conflict of interest if the SPFL Board carries out the review themselves.

 

However, I see it as a first step in acknowledging that the original decision was flawed.

Edited July 24, 2017 by Footballfirst

[davieholt]

Well there's obviously a conflict of interest if the SPFL Board carries out the review themselves.

 

However, I see it as a first step in acknowledging that the original decision was flawed.

 

Especially a board which now has Stewart Robertson on it!

[buzzbomb1958]

 

Well there's obviously a conflict of interest if the SPFL Board carries out the review themselves.

 

However, I see it as a first step in acknowledging that the original decision was flawed.[/quote

Maybe with the newco being chased for millions by wavetower they know something we don't are sevco going to run from this latest claim by going down admin route to escape paying up,this makes sense

[niblick1874]

Six months later Petri declares that indeed rangers did use EBTs. When asked about striping titles Petri snaps back that the invasion of the Hampden pitch was just hibs fans having a laugh.