Return to lender

I’m told that more than a few EBT recipients had an uncomfortable experience yesterday when they opened their mail.

There were two missives from hector in the post to them.

The first one was a request from HMRC to get in touch about their overall tax affairs.

The second one was an “APN” (Advanced Payment Notice).

That piece of paperwork means that Hector believes that certain monies are due immediately.

If the amount is challenged by the taxpayer then the funds will be put in an escrow account pending any future tribunal.

Should Hector lose the case then the monies will be paid back to the individual.

This development was the talk of the City yesterday lunchtime.

Another morsel of Square Mile scuttlebutt was that some financial advisers are now being sued by EBT recipients.

I’m told that those tax efficiency experts have in their possession some very very interesting pieces of documentation.

I am led to believe that this paper trail could implicate several of the main actors in the administration of the EBT scam at a certain dead football club in Scotland.

23 thoughts on “Return to lender”

  1. I omitted James MacArthur from my roll call. Easily done, since almost 50,000 folk were shouting for either McGregor or McGinn to be introduced to steady the midfield. Take a bow James, you too did your job well. I almost think Strachan glories in defying the fans… which is fine when you win.

  2. The Scotland side played out of their skins, with Griff, Forest, Tierney and Gordon vital to a real team effort minus the services of Brown and Armstrong. They serve the nation not the SFA. Rather than shame, every man of them should beam with PRIDE. Mulgrew also deserves a mention as an honorary Celt. But let us not be too Celtic minded. Robertson shone, Anya thrilled, Martin rattle the Slovak and Morrison and Berra joined the fray.Morrison, Phillips and Bannan gave their all. Our national side done good.

  3. The players should state they don’t owe the money. It’s the club or its tax adviser sdm.

    Why did BDO/ RFC defend the HMRC motion in court and not the players?

    The club owes the money. The club must sue sdm.

  4. Hector certainly has a sense of humour and karma after all he’s been through with Rangers. He’s issuing “Follower Notices” to suspected EBTers.

    Google “hmrc spotlight 41” – choose http://www.gov.uk link of 29th Sept:

  5. Phil any idea on the date of the audited accounts?
    In last year’s signed off by professional accountants it states that £10m of the loans WILL be repaid in December. We know they don’t have any money let alone £10m so what action can the accountants bring if sevco just made it up as they usually do ?
    They needed a share issue to get loans paid back, but thanks to King thats been blowing out the water by the take over panel verdict.

  6. And to think their leader wanted the boycott of a CVA, you get what you want in life sometimes, and sometimes its to late when what you get is not really what you wanted. its like when Santa delivers the action man deserters kit or the saddle for the bike you always wanted but never could afford the bike.

  7. As I wrote previously Phil it seems clear that anyone with a side letter that says RFC will cover any taxes owed to the EBT recipient can go after Seco as they are on record as saying they are the same club
    Of course we know that is nonsense but they cannot have it both ways. Either they stand by the same club fallacy and pay the taxes for these folks or come out with a clear statement that they are a new entity. Intestine to watch how this develops

    1. James

      I think you misunderstand.

      I own a company that bought some display stands from Woolworths plc when they were in administration – prior to their liquidations. All and sundry laugh at me for claiming to be Woolworths plc when I sell pick & mix from these stands at local car boot sales.

      But fortunately, when it comes to the crunch, I didn’t buy any of Woolworths plc’s responsibilities (contracts) and so I’m not responsible for Woolworeths plc’s ongoing debts and liabilities.

      The EBTers only have a claim (tenuous) against their advisers if they are out of pocket by paying HMRC. Most with big debts worth suing over will have shifted assets to wives/childern etc long ago and will declare convenient, comfortable bankruptcy to avoid HMRC. Expect SMSM to declare such bankruptcy as a badge of RRM honour as the list grows.

  8. Funny, I can’t imagine why I never read that in a newspaper!!!
    They will have to comment soon when more bankruptcies are announced.

  9. Phil

    it is only a matter of time when the “nothing to see here” wall crumbles from the inside.

    I think the term is “The gigs up”.

    Persistence beats resistance.

    Those media men who shored up the wall even when presented with clear evidence of the holes in it, will not want to hang around either.

  10. Congratulations on the headline. Succinct and apt to boot.
    Only a few hours til the SFA select go head to toe with Slovakia.
    Shame on any player representing the rotten cabal.
    I know, I know, they’re not politicians merely empty headed footballers.
    Shame on them anyway.

        1. You would sacrifice your international career because of Rangers screwing up big time and an incompetent administration? On that basis hardly a player in the world should be pulling on the jersey on account of the corruption shenanigans at FIFA. Not any shame on the players whatsoever, it’s none of their doing.

          1. If it were only a case of the administration being incompetent then I would take your point. The fact of the matter is that the administration is, in my opinion, biased, discriminatory, Rangers facing and corrupt. It is for that reason that I could never lend it my support or cooperation.

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