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Rangers facing HMRC tax appeal

Her Majesty's Revenue and Customs (HMRC) has lodged an appeal over a tax tribunal which ruled in favour of oldco Rangers' use of Employee Benefit Trusts (EBTs).

Last Updated: 04/02/13 at 17:34 Post Comment

Rangers: HMRC lodges appeal over tax tribunal ruling

Rangers: HMRC lodges appeal over tax tribunal ruling

Following a First Tier Tax Tribunal in November, which heard the club's appeal over a bill relating to the use of EBTs, a majority verdict allowed the appeal in principle - and declared the assessments of HMRC be 'reduced substantially'.

Two of the three judges decreed that only some of the payments made to players through EBTs were taxable but that many of them could be described as loans, as the club had argued.

In a statement, two tribunal judges agreed with the club's outline case.

The statement read: "The majority view reflects the argument that the controversial monies received by the employees were not paid to them as their absolute entitlement.

"Thus the payments are loans, not earnings."

HMRC said at the time it was "disappointed" with the decision, and a spokesman said on Monday: "We have lodged our appeal on the Rangers EBT case."

Rangers began using EBTs when under the control of Sir David Murray, who sold the club to Craig Whyte in 2011 for £1 while the tax liability was in dispute.

The old club went into administration last February, owing up to £134m to unsecured creditors, before the club was relaunched as a new entity in June when the original company was consigned to liquidation.

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terling needs to be told though that upon entering the Arsenal squad he will re-enact the final scene from Highlander where he will be thrown around a warehouse by cartoon dragons and then be a mere mortal that will only ever spend three to four weeks a season playing football and the rest on the physio's bed. There can be only one.....player available at The Emirates.

rodger's gusset
Arsenal interest in Sterling

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he game changed in our favour when Carrick came on. We were able to play further up the pitch due to having a player who can give and go with the ball and keep possession. Yet barkley made some runs and Townsend scored a good goal but carrick's inclusion and chiellini's withdrawal made the biggest difference to the flow of the game

ricky villa
Hodgson: Barkley was brilliant

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o, you've not silenced anyone Andros, i'm afraid. We know you can score a great goal, and it's really handy to have your direct running and willingness to shoot on the bench. But until you can do the other things expected of a winger (beat the man, put a decent cross in, stay wide etc) then you can't expect more than a regular cameo. Wonderful goal though, what a hit! No wonder Buffon wanted the shirt.

badwolf
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