HMRC wins Rangers 'Big Tax Case'

Posted on 7/5/17 at 10:06 am

Posted by TN Bhoy

San Antonio, TX

Member since Apr 2010

60589 posts

Posted on 7/5/17 at 10:06 am

Title stripping, here we come!

TLDR: The dead club cheated

quote:

The Supreme Court has ruled in favour of HM Revenue and Customs (HMRC) in its fight with Rangers over the club's use of Employee Benefit Trusts (EBTs).

More than £47m was paid to players, managers and directors between 2001 and 2010 in tax-free loans.

...

In a statement, HMRC said: "This decision has wide-ranging implications for other avoidance cases and we encourage anyone who has tried to avoid tax on their earnings to now agree with us the tax owed.

"HMRC will always challenge contrived arrangements that try to deliver tax advantages never intended by parliament."

Rangers liquidators BDO said it believed taking the case to the Supreme Court had been the correct course of action "given the significance of the matter".

It said: "We will now engage with HMRC on adjudicating its claim.

"Further advice and guidance will be provided to creditors in due course."
Meanwhile, Celtic said they were sure that the football authorities would review their findings that Rangers gained no sporting advantage from the tax-avoidance scheme.

A league commission fined Rangers in 2013 but did not strip the club of any titles they had won during the years the scheme was in operation.

Celtic disagreed with that ruling at the time, and said the Supreme Court judgement "re-affirms that view."