Next Game

Q of South v Rangers

Saturday, 09 May 2015, 17:30

Scots Prem PO First Round Play-Offs

Last Game

Hearts 2 - 2 Rangers

Saturday, 02 May 2015, 12:15

Scots Champ

Tribunal allow Rangers appeal

Rangers' appeal over their use of Employee Benefit Trusts has been 'allowed in principle' by a tax tribunal.

Last Updated: 21/11/12 at 07:29 Post Comment

Rangers: Ibrox outfit have seen appeal 'allowed in principle'

Rangers: Ibrox outfit have seen appeal 'allowed in principle'

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

The tribunal ruled - by two votes to one - that during the use of the scheme between 2001 and 2011, 'monies received by employees were not paid to them as their absolute entitlement'.

Rangers had claimed that these payments, which were reported to be close to £49m, were loans as opposed to wages and were not liable to tax.

The tribunal has now ruled that Her Majesty's Revenue and Customs assessment of what became known as 'the big tax case' should be 'reduced substantially' with only some payments subject to tax.

In a statement, it said: "It was conceded that advances in favour of certain players are taxable and liable to NIC (National Insurance Contributions), and 35 we have found that, in certain other limited instances, there may be a similar liability.

"To that extent the assessments should stand. In these circumstances we expect that it is sufficient that we allow the appeal in principle.

"Parties can no doubt settle the sums due for the limited number of cases mentioned without further reference to the tribunal."

Murray International Holdings, who were majority shareholders of the oldco Rangers until Craig Whyte took over in May of last year, backed the findings of the tribunal.

In a statement, they said "We are satisfied that the Tax Tribunal has now published its widely awaited decision and note the contents thereof.

"We are pleased with the judgement which leaves minimal tax liability and overwhelmingly supports the views collectively and consistently held by our advisers, legal counsel and MIH itself."

The decision does not affect the current football club at Ibrox, which was

reconstituted as a new company when the oldco Rangers was consigned to liquidation in June.

HMRC confirmed it is considering appealing against the decision: "We are disappointed that we have lost this stage of the court process and we are considering an appeal.

"The decision was not unanimous and the diligence of HMRC investigators was acknowledged by the whole tribunal.

"HMRC is committed to tackling avoidance and it is right that we challenge the type of avoidance seen in this case."

Rangers chief executive Charles Green believes the verdict "undermines the validity" of an SPL investigation into alleged undisclosed payments to players.

A statement from Green read: "The judgment serves to further undermine the

validity of the commission into the use of EBTs.

"As we have said all along the SPL decision to press ahead with a commission

was ill-timed and fundamentally misconceived."

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

N

ice work John.. have to agree with everything. Never measure your wealth in money.

wexford_blue
We're Not All Jealous Guys...

I

s it the same people that complain about Chelsea that complain about Mayweather? You should by now know what to expect from both, if you can't appreciate how good they are at nullifying their opponents then don't watch them.

Noz2k
Chelsea: This Ending Always Justifies The Means

I

do concede though, that getting rid of Luiz has made them less entertaining. In the same way that driving with both eyes open is less exciting, but probably a good idea.

megabrow (cufc)
Chelsea: This Ending Always Justifies The Means

Footer 365

Jose Mourinho already targeting more success after 'hard-earned' Chelsea title

Jose Mourinho insisted Chelsea were deserved Premier League champions - and then declared himself hungry for more.

Arsene Wenger says Thierry Henry is wrong about Olivier Giroud

Arsene Wenger believes Thierry Henry is wrong to claim Arsenal cannot win the title with Olivier Giroud.

Jose Mourinho and John Terry hit out at critics

Chelsea boss Jose Mourinho and captain John Terry were in defiant mood after the club sealed the Premier League title.

Mail Box

Blaming Van Gaal For United Slump...

Wayne Rooney in midfield, the same balls aimed at Marouane Fellaini...Louis van Gaal has to find a solution. And a Burnley fan embraces relegation...

Shouldn't We Give Players Time?

Do we really want to throw out the baby with the bathwater every single summer? We also have a Man United fan who wants massive investment. And more...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company