The liquidators of Rangers’ old operating company have come to a 54million settlement with HMRC, 10 years after the oldco was declared insolvent.
The revenue service had initially claimed 94.4m, the bulk of which came from the use of employee benefit trusts (EBTs) to pay staff between 2001 and 2009.
Players, staff and directorshad been given tax-free loans which HMRC contended were income and thus taxable, something which was upheld by the Court of Session in 2015. An appeal to the Supreme Court was unanimously thrown out.
The revenue service had been claiming 47m for that alone, as well as a sum in the region of 10m relating to former owner Craig Whyte’s failure to pay VAT and PAYE.
The total debtsclaimed when the former Rangers oper…
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