Saturday, February 25, 2012

Rangers in crisis: Unpaid Ibrox tax bill since Craig Whyte's takeover jumps to £15m - The Daily Record

Rangers in crisis: Unpaid Ibrox tax bill since Craig Whyte's takeover jumps to £15m - The Daily Record

Everything is falling into place for a sell off of Rangers FC and a huge asset strip job. many football clubs in the UK are in similar financial turmoil and this one will just be a test case. The vultures are circling football grounds to have their land at very cheap prices.
In housing developments they can put six homes on every acre of ground at a selling price of £250,000 a home that is a nice return, especially if you get the ground cheap!!  In addition, the plots already have main drains and power lines in situ which is a further cost saving. I would think that out of a six home per acre sale that probably three sales are 100% profit. All the bricks/blocks and other materials are ordered in bulk. Most of the labour is carried out by sub contractors using the 7/14 certificate system and so no National Insurance contributions have to be made by the main contractor nor has tax to be collected and forwarded, thus doing away with a wages department.
It is very easy to change the use of land from business to domestic build and the whole process is cheaper too. Watch out for more football grounds being swallowed up at the end of next season. It will be a Winter of much discontent in the football ground arena.

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