12 Points

[oscarose]

Having watched about 20 minutes, whilst the passion of the fans is admirable, league 1 seems to match the skill levels if either are to compete in English football leagues.

[Doggy Styles]

Having watched about 20 minutes, whilst the passion of the fans is admirable, league 1 seems to match the skill levels if either are to compete in English football leagues.

What happened to all that talk about them abandoning their country and joining the English league?

[eek]

What happened to all that talk about them abandoning their country and joining the English league?

The realisation that the English league actually doesn't want them.

[SimonMac]

All this talk of Rangers going bust and then joining the English league is tulip, the only reason a club will go under is if HMRC refuse to a CVA, however in England there is a "football creditors" rule which means all footballing debts must be paid in full before anyone else, as such the HMRC will always refuse any CVA's as the deem this is unfair, in Scotland its not a problem as the rule dosen't exist.

[minestrone]

All this talk of Rangers going bust and then joining the English league is tulip, the only reason a club will go under is if HMRC refuse to a CVA, however in England there is a "football creditors" rule which means all footballing debts must be paid in full before anyone else, as such the HMRC will always refuse any CVA's as the deem this is unfair, in Scotland its not a problem as the rule dosen't exist.

No, rangers are going down because they cannot pay 50 milion worth of tax.

[SimonMac]

No, rangers are going down because they cannot pay 50 milion worth of tax.

They won't have to pay £50m. Firstly there is no verdict from the court case so at the moment they only owe the small tax bill, secondly each consortium bidding to take over have contacted the HMRC and have agreement that a pence in the pound offer of a CVA will be accepted.

[minestrone]

They won't have to pay £50m. Firstly there is no verdict from the court case so at the moment they only owe the small tax bill, secondly each consortium bidding to take over have contacted the HMRC and have agreement that a pence in the pound offer of a CVA will be accepted.

Here was me thinking you were a 180 a day perl programmer, I would never have guessed you were in some way involved in a 50 million pound tax case and willing to divulge such sensitive information to the public on how the HRMC will conduct its business on this affair.

How I was wrong.

[AtW]

each consortium bidding to take over have contacted the HMRC and have agreement that a pence in the pound offer of a CVA will be accepted.

Why would HMRC accept 1% of debts owed to them? With such low payouts might as well bankrupt to make a point, even 10% would be taking the piss kind of offer.

[SimonMac]

Here was me thinking you were a 180 a day perl programmer, I would never have guessed you were in some way involved in a 50 million pound tax case and willing to divulge such sensitive information to the public on how the HRMC will conduct its business on this affair.

How I was wrong.

Its good you will admit you are wrong when the situation warrants, have a listen to this:

BBC - 5 live blog: 5 live Sport special: Rangers - What Next?

The facts are clear the £50m tax case has not been judged on (if it has they are keeping it a secret) so at the moment we owe nothing in that instance, the HMRC have said they are willing to agree a CVA.

The biggest issue now is the money owed to Ticketus, not HMRC, who have said they will agree to a CVA with the only provision that Craig Whyte has nothing to do with the club.

[SimonMac]

Why would HMRC accept 1% of debts owed to them? With such low payouts might as well bankrupt to make a point, even 10% would be taking the piss kind of offer.

Same reason any other creditor would, because if they go under they get nothing, HMRC are well versed in accepting CVA's, the only issue in England is the football creditors rule which mean football debts must be paid in full before other creditors, this rules does not exist in Scotland.

http://www.hmrc.gov.uk/helpsheets/vas-factsheet.pdf