Back of papers

just noticed the daily ranger has a story about a £430m tax dodge with our ex managers/players and peter lawwell.

im sure this was brought up when deadco were being hammered for it. am i right in saying it should not affect celtic as the individuals invested in the scheme rather than the club paying people via the scheme alas sevco.

 

Celtic supremo Peter Lawwell and other club figures have been linked to a £434million tax dodge.

A Record investigation reveals the Hoops chief executive, along with several former players and managers, invested in a number of controversial film partnerships set up by London firm Ingenious.

Caretaker England manager Gareth Southgate was recently hit with a huge tax demand because of his involvement in the finance vehicles.

HM Revenue and Customs have branded the Limited Liability Partnership (LLP) schemes as sophisticated tax avoidance.

And they have issued multi-million-pound bills to hundreds of Ingenious clients all over the UK after winning a tax tribunal victory.

The LLPs allowed members to offset losses made on film 
investments against their tax 
liabilities for other income.

Companies House records show Lawwell and former manager Martin O’Neill became members of 
Ingenious’s Inside Track 3 LLP in 2004.

Ex-manager and player Neil Lennon was a member of Ingenious Film 
Partners 2 LLP between 2006 and 2011.

Former Celtic and Scotland star Gary Caldwell is an investor in Inside Track 3 LLP and Inside Track 2 LLP, while he resigned from Ingenious Film Partners LLP in 2010.

The Parkhead club’s former finance director Eric Riley is also a member of Inside Track 3 LLP.

Momo Sylla meanwhile joined up with Inside Track1 LLP and Ingenious Film Partners LLP.

Ingenious have admitted all of the above partnerships were covered by the tax tribunal ruling.

While declining to comment on specific cases, an HMRC spokesman said: “HMRC continue to challenge schemes that try to exploit tax reliefs.

“Avoidance does not pay. Most schemes simply don’t work and users end up having to pay all the tax due plus interest.

“Many will be worse off than if they had just paid the right tax up front.”

Ex-Celtic star Craig Bellamy 
also joined schemes linked to Ingenious in his time at Parkhead – Cherwell Films LLP and Orwell Films LLP.

All of the LLPs have their registered headquarters at 15 Golden Square in London – the same address as the main Ingenious group.

A number of other former Celtic players – Bobby Petta, Chris Sutton, John Hartson, Stan Varga, Alan Thompson and Johan Mjallby – were also involved in other LLP schemes.

 

A record investigation reveals...

Aren't you glad our national newspapers are so diligent? You can always count on them to scrutinise our football teams to make sure they are on the level.

 

Right so the * only decided to list INDIVIDUAL players/managers who have used one of these schemes and who have a connection to Us. That paper really does pander to the lowest form of intelligence in the country. Obviously no one else in football used this scheme, * * what a way to spin that story.

 

The orcs are creaming themselves over this on fb and twitter it's hilarious they're so desperate your club is dead get over it mutant scum *.

 

They'll no doubt become dismayed and indignant when the authorities don't throw the book at us in the same way they did them, despite the circumstances being completely different.

They're laughing now, but the beautiful meltdown will come shortly.

 

Read and weep Huns

 

And there it is. The Daily Record agenda for all to see.

 

It's beyond a joke mate, apparently it was in the English press recently about Rooney and beckam however the time it gets up here it's a Celtic problem. There must be a bad news day ready for ibrokes if this regurgitated pish is being thrown out again. Level 5 got their mits over this.

 

We deduct tax from salaries at source. Individuals/players/staff then invest tax paid salary however they like. Tax return reconciles at Y/E. How individuals invest and the preparation of their tax return is nothing to do with Celtic (The Company).

 

Can this affect the club?

It looks like this was done by individuals, not representative of the club as a corporate body.

 

Celtic and Rangers heroes among football stars facing financial ruin as HMRC send cash demands over tax avoidance schemes

06:00, 15 Apr 2016
Updated 06:52, 15 Apr 2016
By John Ferguson , Keith Jackson

SOME of Scottish football's biggest names are facing the threat of disaster as George Osborne's tough new rules has seen a clampdown on tax avoidance schemes used by the wealthy.

SCOTS football stars are facing a fresh threat of financial ruin from the taxman.

Cash demands totalling millions have been issued over tax avoidance schemes in a new blow following the Employee Benefit Trusts row surrounding Rangers.

The targets of the crippling new demands include some of the biggest names in Scottish football.

Recent legislation put in place by Chancellor George Osborne allowed the authorities to re-examine the legality of more than 1000 tax avoidance schemes used by the rich and famous.

Many of the schemes had been officially approved by HM Revenue and Customs but a retrospective change in the law means those who used them are now personally liable.

And this has led to hundreds of accelerated payment notices being served on former and current
professional footballers.

The bombshell demands have been dropped on at least three Scotland captains as well as a host of their international teammates.

Former big earners from across the Old Firm divide have been targeted, as well as at least one player who is likely to feature in Sunday’s Scottish Cup semi-final between the Glasgow rivals.

Firms who sued a tax avoidance scheme could be made to pay £400million to the taxman
Hector

And a string of current SPFL stars from clubs across the country have been left urgently seeking legal and financial advice after being placed on taxman Hector’s hitlist.

The controversial APNs demand full repayment of all disputed amounts. And only once that money has been deposited can the sums involved be subject to appeal.

It is understood that hundreds of professional players on both sides of the Border are discussing joining forces to mount a joint legal challenge against the APN demands.

One current Scotland player said: “There is a feeling that we are being hung out to dry.

“Some of the boys are being hit with demands for sums of seven, eight or nine times what they invested into these schemes.

“Letters are coming through effectively saying, ‘You paid £1million into such and such a scheme a couple of years ago. We want £9million into our account right now. Pay up or we’re sending round the debt collectors to start seizing your assets. We’ll argue about the details later.’

“It’s terrifying and a lot of football players from the past and present are in a real state. No one wants to be declared bankrupt but some of the guys might have no other choice.”


A number of the schemes at the centre of the probe relate to investments made in the film industry. Down south, legendary Manchester United boss Sir Alex Ferguson, ex-Old Trafford defender Rio Ferdinand and former England manager Sven Goran Eriksson are among those facing potential bills for tens of millions of pounds.

On Wednesday, the Supreme Court ruled that HMRC are entitled to go after investors in one such film scheme, in a case worth a total of £1billion.

In 2012, Dave Hartnett, then the head of HMRC, described film schemes as “scams for scumbags”. But one former Scotland international who invested in such a scheme told the Record: “These schemes were approved by the authorities at the time. They were perfectly legal.

“But now the rules have been changed and the taxman has effectively gone to war with footballers and celebrities.

“They see us as easy targets. These letters are dropping through everyone’s box and they are frightening the life out of some of the boys.

“I spoke with one player the other day who got a demand for £80,000. He has until next week to come up with the cash. The guy is in a desperate state. He doesn’t have the money and knows the next step is likely to see him losing his house.


“But that’s just a minor example of what’s going on. The guy I’m talking about played at a decent level without ever being a huge earner.

“There are plenty of other more high- profile players facing demands for much more than £80,000. I know of one former player who has been hit for £750,000 and who is in complete panic.

“There’s no room for negotiation or compromise. It’s all heavy-handed, aggressive tactics from HMRC.”

HMRC believe many of the film investment schemes were designed specifically for tax evasion.

But another source – one of the most influential men in Scottish football –told the Record: “Some of the guys involved put money into a scheme that helped fund the movie Avatar so we’re talking about bona fide investments.

“They were told the tax incentives were perfectly legal. Some of them have letters from HMRC to prove it.

“But now the Government have completely moved the goalposts. I’ve spoken with a number of players who are at their wits’ end with worry.”

Tax expert Andrew Watters, of accountancy firm Thomas Egger, said: “These guys are probably going to have to cough up this money and, in some cases, that could mean selling houses and things like that.

“The big change we have seen in the last couple of years is the introduction of these accelerated payment notices.

“At the time a lot of footballers got involved in these film schemes, HMRC didn’t have the power to demand the tax they believe is owed up front.

“That meant you could tie the case up in court potentially for several years before anything would have to be handed over.

“Now taxpayers can be compelled to deposit the money before fighting their case, with the possibility that it will be returned years down the line if they are successful in court.

“If you have a sportsman who was making a lot of money when times were good, but made a couple of bad investments, then they are going to have to find that money.

“There is no doubt that this is placing a lot of people who got involved in these film schemes in a lot of bother.

“You can make a representation to HMRC to have an APN withdrawn, but if your argument is just that you don’t think you owe the money then HMRC won’t pay much attention to that.

From the same rag previously.

 

Loads of people have done the same thing and it's nothing to do with Celtic.

 

A Daily Record invistigation reveals how this information about tax aviodance came about i dont know, it was certainly not from a Daily Record invistigation. Even though it involves clubs all over Britain they have only mentioned Celtic players. Agenda or not? Surely not from the trusted employess of the Daily Hun.

 

Poor hun mate just texted me all excited, juctice will be done, hope youse get the same treatment we did and get demoted (yes he said demoted) to the 4th division.

Hasn't replied to my message that their players (and others) did it too and it's not the club itself.

That record headline has really got them worked up, I'd feel sorry for them but that's what you get for reading red tops.

 

They've already ran with this story months ago. Why they're getting excited about this I don't know

 

Regurgitated pish..

We going bust? Naw? Right, who gives a * then..

 

No wonder links to that absolute rag are banned on here. There agenda screams from every word on their page. Anybody that buys that pile of * is an imbecile

 

Beware that this "exclusive is only in there to lighten the hearts of the zombies, because something very bad is coming down the line that will not please them