Campbell Ogilvie is unsure about the terms of a £95,000 loan he received from his time as a Rangers director.
With the finances of the Ibrox club under greater scrutiny than ever the SFA President has been forced to speak out about his role with Rangers.
A potential £49m to HMRC could be handed out before the end of the season relating to the way that Rangers operated an Employee Benefit Trust scheme.
Rangers have argued that the scheme was discretionary while HMRC believe that it was contracted with suggestions that players had secondary contracts detailing how they will be paid through the EBT.
Ogilvie started his career in the game working with the Scottish Football League before moving to Rangers where his knowledge of the rulebook and regulations at home and in UEFA were widely praised.
When the EBT scheme was brought in at Rangers Ogilvie admitted that he accepted the scheme without question.
“I can’t remember who put me into the scheme but I didn’t question it because it was set up perfectly legally,” he explained.
“I remember at the time they came in, the Murray Group took a lot of legal and accountancy and tax advice. As far as I was concerned they were legally set up with the backing of the accountants of the lawyers and they were operated legally.“
Explaining his own involvement Ogilvie added: “In my own case, it was an offer of a discretionary bonus or a contribution into the trust. I chose to pay into the trust and I can then apply for a loan from the trust. I got three payments between 2001 and 2003.
“It was a £5,000 each payment and then on the termination of my employment (at Rangers in 2005), as part of my settlement, I got a figure of £80,000. The whole thing is centred around loans. It’s a very technical issue but you have to repay the loans, yes. It’s over a period of time.”
He added: “I was a director. I might not have been involved in the bigger decisions but I’m not going to go and hide from the fact that I was a director. At no time would I walk away and say I didn’t have a responsibility.
“Looking at the situation the club finds itself in now I regret very much that this has happened. I don’t know what I could have done. Maybe I should have questioned things more.”
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So as it was only a “LOAN” How much of the £ 95,000 have you repaid since 2005 Mr. Ogilvie ????
Can I hazard a wild guess at HEE HAW…..furthermore can I also throw a completely random guess at how much has been repaid by the other members of this EBT scheme in stating that they also have repaid ZIP / ZILCH / NADDA
How do you explain this Mr. Ogilvie
Funny how you can recall so many details, the facts it was looked over by financial experts and such like but NOT the person who put YOU onto the scheme.
Given your position in the Company at Rangers FC it wouldn’t be the kit man or the laundry lady….so surely narrows it down to a fellow director with a Mr. D. Murray being the most likely.
Of course we can also ask Mr. Bain, Mr. Johnstone and all other recipients of the EBT scheme, I would find it unthinkable that they ALL have similar lapses of memory like yourself Mr. Ogilvie !!
If you get a directors loan is an effect way of getting a tax and nix free payment, the company can write it off but the interesting thing is that the administration company should try and claw it back as its a debt.
And that wee half-wit Chico fae Paisley said Ogilvie received no more money than would have paid for a night out. God knows where the baldy moron goes for a night out! 95 grand!
Why does no one ask the players? I can direct the investigators to where they may find some of the culprits.
They surely can find out who played for Rangers during the times in question and simply ask them if they had two contracts and what their tax status was.
Simple.
Supposedly Albertz and Laudraup have said they would be willing to show any investigation their bank statements from round about the time these EBT’s were being run and they would still have been employed by Rangers.
At least that was what the guy on REAL radio phone in said, perhaps to placate the white underclass and reassure them everything will be alright.
A director’s loan attracts corporation tax if it is not repaid to the company by the end of the tax year following the loan being given.
funny how he can remember every detail in a court room, but suffers from alziemer’s when asked about himself
If these were all Loan Payments then the scheme should have the details of who received the loans.
Why are the administrators NOT Clawaing back these “Loans” with the company being in so much debt ? Clearly they don’t see them as Loans.
Cheerio tax dodger.