Journalists at The Times in Scotland have had a busy day as they tried to push their five-month-old story that HMRC had reduced the final bill owed by the old Rangers club which remains in liquidation.
For seven years BDO have been picking up fees as they breakdown what went wrong at the old club and try to salvage something for the 276 creditors that were never paid. Among those waiting for payment are local authorities, utility firms, the emergency services, taxi firms, florists, newsagents and a face painter.
Every six months BDO issue a report to the creditors with the last one appearing in June as they attempt to close the file and issue a pennies in the pound payment to those creditors.
One of the biggest creditors is HMRC, owed money from the Flo and de Boer contracts (Wee Tax Case), non-payment of Income Tax and National Insurance from September 2011 to February 2012 and the unquantified Big Tax Bill.
Every six months, every report burns away at the dwindling creditors pot with HMRC the biggest losers of all.
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Why this is newsworthy when the current club is short of £10m and facing a January bill to Sports Direct running to ‘many millions of pounds’ is the big question. Perhaps five months after the next implosion/meltdown (administration and liquidation) we’ll get a comforting re-write from The Thunderer.
Fascinating reading in The Times today, taking forward the BDO report in June. Whether the 1872 RFC tax dodge was worth £50m or £20m, I still wish the club had gone nowhere near EBTs. A ruinous policy. pic.twitter.com/fDdAnebpuZ
— Graham Spiers (@GrahamSpiers) November 14, 2019
https://t.co/If4mj46WC8 i would concur that Magnus Llewellin @magnusllewellin is being leaned on again , company law would advocate that HMRC forgo £, in preference to smaller creditors like mister custard the clown & the face painter
— suburban rebel (@kennyboyle1) November 14, 2019
It seems this “story” has got the ibrox support in a bit of a tizzy, but it all boils down to a club that cheated the taxman were liquidated and ceased to exist, a spineless media helped create the “same club” myth and round and round we go.
— Tam (@TamMcKenna1888) November 14, 2019
Yes , just think Graham, had they stayed away from the EBT’s they would still in existence and Chas. Green could not have bought 54 titles and sundry other trophies, even Alex McLeish concedes that point.
— Lachie Mor (@LachieMor1) November 14, 2019
‘Fascinating’ lack of facts or balance ??
— ? Gastro Celtic ? (@Gastro_Celtic) November 14, 2019
Was called cheating Graham and we’ll never let anyone forget or revise it. Rangers resources players beyond their means to gain an advantage.
— DB (@deejaypb) November 14, 2019
Strange that this comes out now even though it’s 5 months old. By any chance are Rangers in court yet again today? pic.twitter.com/yse9oJAnVb
— Gaz Frimpong ? (@gazzathomson) November 14, 2019
I refuse to believe a man of your intelligence does not see through the complete irrelevance of this non story ergo that leads me to believe you are actively taking part in the attempt to obfuscate the matter.
— Searriagh (@searriagh67) November 14, 2019
What about the unpaid Wee Tax Bill & Penalties+ Interest – just another.. pic.twitter.com/nxqpHJXV0Q
— Sunny Bhoy (@Tenerifetim10) November 14, 2019
Should be asking why David Murray didn’t just play by the rules or even keep records you would think the accountants would know still deserves them right
— fuzzy ? smell the glove (@fuzzywuzzy39) November 14, 2019
Why did the press not report this in June? ????? what are New Rangers 2012 trying to hide? ????? except of course they too, are running out of money ?????
— Mike McTighe (@oscarbear07) November 14, 2019
It’s because The Times today has taken the story significantly forward, in terms of the figures.
— Graham Spiers (@GrahamSpiers) November 14, 2019
Graham the figures have taken nothing forward, they have taken things sideways, or more accurately all over the place.
The question here is why? or more interestingly Why now?
— Mick Connick (@MickConnick) November 14, 2019
Graham, the story is nonsensical. HMRC is not pursing interest and penalties because there is no prospect of recovery. Oh, and in addition to the Big Tax Case there was £5m from the Wee Tax Case and no PAYE or NIC paid for months which was millions more.
— Grazer (@grazer1973) November 14, 2019