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  #81  
Old 13-02-2012, 08:58 PM
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Quote:
Originally Posted by OscillateWildly
Rangers on the brink and The Sun in trouble.

Happy days.
and paisley in intensive care. the treble is on
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  #82  
Old 13-02-2012, 09:02 PM
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With penalties - they could owe HMRC alone, 75m.

Jee-sus! That is phenomenal. We were placed in Administration by 4m... Yet they are applying for it so they are protected from paying 75m.

Shocking.
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  #83  
Old 13-02-2012, 09:05 PM
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Wonder if those fans who bought "advance" season tickets will be honoured or just become creditors if they go into admin.

They would have bought tickets thinking they were helping to save the club, but in reality their money was burned.

Have no feelings for GR but the fact they have shafted loyal fans whilst knowing financial meltdown and admin was round the corner is unforgivable.
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  #84  
Old 13-02-2012, 09:16 PM
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Don't worry, Alex Salmond will sort them out (Real Madrid stylee).
A hundred million or so from the Scottish cultural budget should do it - should be worth a few votes.
He supports Hearts, so I presume he sympathises with Rangers.
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  #85  
Old 13-02-2012, 09:27 PM
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In reply to Gosling who said Whyte had made a pig's ear of running the club, Whyte has been trying to sell them for about a year now with no-one seemingly wanting to buy, and you can see why as well!
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Last edited by Woosie; 13-02-2012 at 09:34 PM.
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  #86  
Old 13-02-2012, 09:27 PM
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Originally Posted by JDawg
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OK these are the financial statements as at 30 June 2010. However see note 6 and 8. £70m to HMRC doesn't make a whole heap of sense based upon these numbers even if payments into EBTs are completely disallowed.
Without even having opened the stats, my guess is that it is not the CT deduction they are after but the PAYE and NI not withheld.
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  #87  
Old 13-02-2012, 09:33 PM
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Quote:
Originally Posted by Erne
Wonder if those fans who bought "advance" season tickets will be honoured or just become creditors if they go into admin.

They would have bought tickets thinking they were helping to save the club, but in reality their money was burned.

Have no feelings for GR but the fact they have shafted loyal fans whilst knowing financial meltdown and admin was round the corner is unforgivable.

I guess they are unsecured creditors along with everyone else.

Craig Whyte has two tacks on this. The first is that the balance sheet needs restructuring to secure the long term future. The second is that Rangers can't survive with the tax case hanging over them (payments back to 2001) and this has to be sorted out this season so that they can enjoy European football next. Either way they have to do a deal with HMRC over tax owed (why can't we the people do this)?

Fantastic. It looks like he's doing a Ken Bates by clearing out the debt and forcing HMRC into a deal. He then buys it back out of administration relatively debt-free and has a much stronger asset. That's taking pre-packs a bit far and, once again the tax payer takes one between the cheeks.

HMRC would do itself a whole heap of favours if it started putting businesses in Administration itself rather than going for winding up petitions and watching as people jump in front by going into Administration to protect themselves from HMRC - who end up taking pence in the pound as part of a CVA.

Is there a reason why they don't do this - or more to the point why piss our money away on the legal fees associated with a Winding Up Petition when you know that the outcome will be administration and a CVA

Last edited by JDawg; 13-02-2012 at 09:36 PM.
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  #88  
Old 13-02-2012, 09:41 PM
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Quote:
Originally Posted by Adlerhorst
Without even having opened the stats, my guess is that it is not the CT deduction they are after but the PAYE and NI not withheld.
CT is pretty much zero and indeed they have a deferred tax asset of £35m odd most of which is losses carried forward.

It does look like the issue could be payments to the EBT have been now disallowed by HMRC but that only looks like £2.5m per year for 10 years in total.

None of this adds up to £70m.

It's a pre-pack to get a deal with HMRC.

Last edited by JDawg; 13-02-2012 at 09:44 PM.
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  #89  
Old 13-02-2012, 09:41 PM
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Do they have the power to put a company in admin? Not sure they do. Think they have to go the court route.
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  #90  
Old 13-02-2012, 09:42 PM
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Quote:
Originally Posted by JDawg
CT is pretty much zero and indeed they have a deferred tax asset of £35m odd.

It does look like the payments to the EBT have been disallowed but that looks like £2.5m per year for 10 years.

None of this adds up to £70m.

It's a pre-pack to get a deal with HMRC.
No idea. What were the payments to the EBT.

Also the interest will be huge.
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  #91  
Old 13-02-2012, 10:03 PM
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So how come Celtic aren't in a similar predicament?
Because they're not filthy orange bastards, or something.
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  #92  
Old 13-02-2012, 10:04 PM
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Quote:
Originally Posted by OscillateWildly
Rangers on the brink and The Sun in trouble.

Happy days.
50% correct.
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  #93  
Old 13-02-2012, 10:07 PM
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Even though I follow Hearts and Hibs in Scotland I don't want to see either Rangers or Celtic in trouble. I have met and worked with many decent fans of these clubs.
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  #94  
Old 13-02-2012, 10:14 PM
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There another football club with football fans and know doubt some of them fans once wished us well when we was in the s hit.
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  #95  
Old 13-02-2012, 10:15 PM
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Quote:
Originally Posted by west country boy
Because they're not filthy orange bastards, or something.
The west country bigot is at it again.

I saw this coming Craig Whyte is a massive crook every company he's owned or invested in has gone on to be put into admin or liquidated with himself being the company's biggest creditor so he makes a share of his money back then liquidates the company but Rangers won't die.
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  #96  
Old 13-02-2012, 10:20 PM
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The west country bigot is at it again.
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Old 13-02-2012, 10:24 PM
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There another football club with football fans and know doubt some of them fans once wished us well when we was in the s hit.
The ones I knew couldn't have given two shits about Palace. All they cared about was slagging off the 'f-word'* scum. Celtic fans were just as bad. Their rivalry has little to sod all to do with football.

*That's the word that Dave bans people for saying.
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  #98  
Old 13-02-2012, 10:39 PM
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The ones I knew couldn't have given two shits about Palace. All they cared about was slagging off the 'f-word'* scum. Celtic fans were just as bad. Their rivalry has little to sod all to do with football.

*That's the word that Dave bans people for saying.
As an ex-honorary Greenockian, I've met plenty of Rangers and Celtics fans, and I must say the bad ones are amongst the *****est you'll find anywhere in football.

But like anything else, they were some of the best people you could meet too, on both sides.

The best of the lot though, was my ex would be brother in law, who wouldn't let anyone in his house with any Old Firm gear on. He was Morton and Scotland through and through!

He told me when we were down the pub that some punters would corner people in the toilets and ask them if they were Celtic. If they said no, they'd beat the shit out of them for not being Celtic. If they said yes, they'd beat the shit out of them for not being Rangers. And if you were wise to the trick and said you didn't follow football, they'd beat you up for being a poof.
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  #99  
Old 13-02-2012, 10:53 PM
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He was Morton and Scotland through and through!
There was a great bit of graffiti in the bogs of, I think, JFK airport which bore the legend "Morton: small gates, big aggro"

Don't want to see any club go into admin - not a fan of either of the Old Firm; would rather see the playing field levelled. The SPL is little more than a shit La Liga.
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Old 13-02-2012, 10:59 PM
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Don't want to see any club go into admin.
I think I agree with this, not even for dreadful things like Rangers or Liverpool or Spurs or Millwall.
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