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Not holding my breath but if the non-OF chairmen had any sort of political nous, they would use this situation to remove the absurd voting rules that give the OF a veto on the important stuff. It's always been a ridiculous setup but in light of the current farce, it looks completely indefensible.
or balls....
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They're applied - but more often than not waived on appeal.
Like I said, not my experience.
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Penalties are applied after 2 late monthly payments. If payments aren't made at all then it can rise to a 10% penalty - but given the the **** didn't give a f**k about paying anything, they're not going to have worried about that.
Penalties on what? PAY/NI?
Not been my experience that these are applied in practice.
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Can someone help me with this.. the "missing 9 m in tax"
On Sky Sports News earlier, it was claimed Rangers said they had paid tax, until very recently.
Why wouldn't the Revenue have queried much earlier the non-payment of tax since Whyte took over? Can companies withhold tax for months on end? Do they have a year to settle up?
The SSN dweeb claimed that you only have until the 19th of the following month to make good the tax from the previous month.
I can only assume that's bollocks, in which case the Revenue need to really change their practices, and send in the men with baseball bats much earlier.
No, it's more that if any business doesn't pay you any tax for what, 9 months? Shouldnt' alarm bells be raised at least at the 6 month mark, especially when that company has a new owner and has visible streams of income.
I'm just amazed that any company can withhold tax for the best part of a year, whilst already in a tax avoidance wrangle with the Revenue, and not have sanctions taken against them long ago.
Especially PAYE which alledgedly makes up a huge chunk of that £9million
PAYE is indeed due on the 19th of the month following the month it was deducted from salaries in. In practice the Revenue are very slow/ineffective in chasing this up. They are better now I would say, but still not great. In practice many businesses who are short of cash use the Revenue effectively as a source of additional working capital. I have done it myself a couple of times when working as a financial controller at smaller companies. Being nine months in arrears is not unusual in my experience.
Each year there is a "cash up" when formal returns are made to HMRC in May of PAYE/NI deducted in the tax year and what has been paid to date. Settlement of any balance is due at this time.
I've always thought it wrong that the tax authorities are so weak in collecting these monies. It is open to abuse and can actually be detrimental to businesses who get all too easily into arrears. It gives them a false view of cashflow.
VAT is different. Historically HMC&E (and now HMRC) are much stricter in collecting VAT. There are more immediate and more stringent penalties for defaulting on VAT.
I suspect most of the £9m is indeed PAYE.
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ticketus are a front for octopus investments who invest money for hedge funds worth hundreds of millions.
the idea that they weren't fully aware that (i) whyte is dodgy (ii) rangers were facing a huge tax bill and (iii) admin was extremely likely is not very realistic. there is a reason why these people are filthy rich and it's not because they throw millions at con men.
it's much more likely that whyte, the administration company and ticketus have planned all this from day one.
Definitely.
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So even less debt.. And even less need to go into admin then
Not really. They cannot meet their running costs and owe HMRC £9m is "current" VAT/Paye.
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He sold 4 years of season tickets for £24m. Reason - to provide working capital while he knocks down their costs. So why, within weeks, is there no working capital?
Did this money actually go straight into Rangers though? Or was it routed into the business in such a way that it is the loan from CW's company which was used to pay the bank debt.
He had access to an additional £9m in tax deducted from salaries etc but which was not paid to HMRC.
He sold Jelavic to Everton for £5.5m. This was allegedly less than the offer from West Ham so it is safe to assume that the up front payment terms were better.
Perhaps this cash has been used to repay a significant chunk of the loan to CW mentioned above.
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Enjoying this so far... my money's on Trump, though Cheat Higgins looked quite impressive today..
Incorrigible0 -
One of the best snooker finals quality wise for a long time Judd Trump beats Mark Allen 10-8
Good to see two young, talented guys contesting this. Let's hope they maintain their form towards the Worlds.
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Read in the Herald that Spurs, Arsenal, Liverpool and Citeh all had scouts at the game last night.
And there will be even more watching the young players after Wednesday's result. There are plenty good young players throughout the country, but the difference with Falkirk is clearly that there are so many getting regular games for the first team.
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Apparantly the No.9 was Robbie Winters. Not sure if it's the former livi player or not.
It was indeed that Robbie Winters.
Decent enough, if low key, game. Falkirk's youngsters played some good football, always looking to play passes. Neil McFarlane urging them on from the side. They were deservedly one nil up at the interval, but I thought we maybe did enough to snatch a draw second half with Winters moved back into an attacking midfield role, but our final ball was poor and big Armand continues to disappoint.
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Lots of mountain top finishes but....
Stage 8 to San Lorenzo - 1km of 28% ramps
Stage 15 up the Angliru
Look especially brutal.
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Haven't read the Falkirk Herald in months and thought I'd see what they said about the two games up North. I'm not sure if they're just trying to drum up a bit of excitement about the young lads or if I was at different match.
Jay Fulton put in a "revelationary performance" against Locos and Kingsley looking "assured" against Peterhead. Aye ok then.
What the f*ck does that mean?
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Never understood why so many people seem to enjoy criticising Murray so much. The guy is a fantastic tennis player who is unfortunate to be playing at the same time as 2 players who will probably go down as the best 2 players ever. He's now consistantly reaching semi-finals/finals of grand-slams and will probably win a major at some point. And even if he doesn't, he's already had a career that 99% of tennis players would be proud of. However, some people clearly don't rate him and don't see him as worthy of living up to Scotland's great tennis tradition...
Spot on.
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Cracking first stage with the sort of drama the tour always seems to serve up already. The time loss for Contador already puts a different spin on the race. Terrific finish from Gilbert. When Cancellara burst clear I though he would take some stopping but Gilbert nailed him. The spectator who caused the crash should be flayed.
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Really enjoyed the game. Great to have football back and a glorious day to boot. Decent football from both sides and pretty entertaining given we are just a week or so into pre-season and there were so many trialists on show for both teams.
I've seen Murdoch three times now and he looks a really promising young player. Strong, athletic and competitive, looks to do the simple thing. Can go on to be an important player for the Bairns.
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Terrific final. Nadal showing once again that even among great champions he has something a bit extra. The guy's made of steel - physically and mentally.
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Bjorn Borg has won more titles here, sorry.
I'll give you that, but how do you think that will look when Nadal's career is finished?
Federer has won more grand slams than anyone else ever, does that me he is unbeatable right now?
No, but it's not really relevant.
There's no reason why Murray couldn't play the big points better,
Yes there is. You explain it well as follows:
but the key reason why Murray doesn't win these sort of matches is the mental issues he has. He folds under pressure in the big matches and fails when it really matters. Nadal is the opposite, which is obviously a big thing in Nadal's favour.
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I take it you haven't watched him play for the past two months then. It seems you have the people who watch tennis a handful of times per year out in force just because Murray happens to be in the semi finals.
This is the French Open we are talking about. I assume you're aware of Nadal's record there? The greatest in tennis history? That's not something which is significantly affected by his recent form IMO.
The great players deliver at the top level. Your "he just needs to play the big points better (3/12 on break points as opposed to 4/8 for Nadal)" illustrates the difference. It's not a big one looking at the cold numbers, but it's a world of difference when it comes to determining who wins and who loses.
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Why is Nadal inevitably going to win? Why should Murray start going for ridiculous winners when he is having plenty of success rallying with him? Some strange comments on this thread today.
Because he's a machine.
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If Murray plays as well as he can he will win, or if Nadal plays badly.
Problem is even if Murray were to play his best tennis, he will almost certainly lose. Got a chance on other surfaces, but this is Nadal on clay at the French Open.
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If they ain't good enough then they ain't good enough, simple.
Indeed. Just because they are goalkeepers doesn't mean they should be treated any differently to outfield players. What Falkirk need IMO is an experienced proven keeper at first division level or above who can still deliever consistent performances.
I imagine they will try and sign someone like that and have the under 19s goalie as back up.
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My main problem in golf is keeping my mind positive/clear when playing.......mostly through my backswing. When I pull the club back and wee voice in my head go's "Oh no". Also, I tend to overthink the full game too much.
Any idea how to conquer this simply?
Get a pre-shot routine. You could read a good golf "mind" book (e.g. Bob Rotella's "Golf is not a Game of Perfect).
Or get this guy's dvd.
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Gaz, only idiots or geniuses at golf use a 9.5 degree driver.
It's also actually a myth the lower the loft the further you will hit the ball.
I use a 10.5 degree and I have a controlled fade rather than the pronounced slice that I get if I try to use a straighter faced driver.
Interestingly I have an uncontrolled draw.
I'm not sure that low lofted drivers are as difficult to hit as they used to be. Mine's a 9.5deg and I can still get plenty height and length. Modern drivers are pretty easy to use if you get one that suits your swing.
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Incorrigible
Big Rangers Administration/Liquidation Thread - All chat here!
in Celtic v Rangers, Rangers v Celtic
Posted
I suspect it may work like this:
The holding company get a loan from Ticketus.
That loan is probably subject to a personal guarantee from Whyte, so effectively safe.
The loan will also carry a decent short term return, probably in the form of a fee. So worthwhile for Ticketus.
The holding company then loans the money received from Ticketus in turn to Rangers. That money being used to pay off the bank debt.
Since the purchase of Rangers by the holding company, funds have been used to repay a reasonable chunk of this loan. I expect that the indebtedness of Rangers to the holdng company has been reduced as far as possible. I'd guess now less than £10m.
Ticketus are happy as they make a good short term profit with no real risk as the debt is backed by a personal guarantee from Whyte. They are outwith the financial problems of Rangers.
Whyte is happy as his holding company is a secured creditor and will have the remainder of any loan paid in full. It's effectively just an in and out for him in any case.