Submitted on Wednesday 21st November 2012
Published on Thursday 22nd November 2012
Current status: Closed
Closed: Friday 22nd November 2013
Signatures: 16
ranger copo of taxs man
The former Rangers Football Club has won an appeal against a tax bill over its use of Employee Benefit Trusts.
The club, which is now in liquidation, used the scheme from 2001 to 2010 to make £47.65m in payments to players and staff in the form of tax-free loans.
HM Revenue and Customs (HMRC) had challenged the payments, arguing that they were illegal.
Rangers disputed the bill and a First Tier Tax Tribunal (FTT) has ruled the payments were loans that can be repaid.
The decision was welcomed by Murray International Holdings, who were majority shareholders of the old club until Craig Whyte's takeover in May 2011.
However, HMRC said it was considering an appeal.
Liquidators BDO said they were reviewing the tribunal's decision closely.
Rangers chief executive Charles Green said the verdict in the so-called Big Tax Case "undermines the validity" of a Scottish Premier League investigation into alleged undisclosed payments to players.
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