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    Rangers FC’s funds ring-fenced for tax bill

    Rangers FC's funds ring-fenced for tax bill

    HMRC issues arrestment order on Rangers' accounts for £2.8m bill

    Author Date published September 5, 2011 Categories

    THE TAXMAN has enforced an arrestment order to ring-fence funds in accounts held by Rangers FC.

    The court orders instruct financial institutions to ring-fence money owed to a third party. HM Revenue & Customs’ order is thought to be worth upwards of £1m and relates to a £2.8m bill facing the football club, the BBC reports.

    A Rangers source had indicated that a six-figure sum had already been paid but the club disputed the total demanded by HMRC.

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