TaxCorporate TaxRangers confident of winning tax tribunal

Rangers confident of winning tax tribunal

The owner of the Glasgow football club says he is confident they will win the £60m tribunal

THE OWNER OF Rangers FC has said he is confident the club will not have to pay any compensation in its upcoming court case regarding the use of Employee Benefit Trusts (EBTs).

Estimates on the total liability Rangers faces goes up to £60m. HM Revenue & Customs claims to be owed £24m in unpaid PAYE due to the club using EBTs, which provide employees with non-repayable interest free loans and were the target of the disguissed remuneration legislation in this year’s Finance Bill.

Craig Whyte, who has recently purchased the club, told Rangers TV that he is confident Rangers will win the case.

“At this moment, there is no liability to HMRC,” Whyte said. “There is a tax tribunal which has been going on for some time.

“Our advice is that we are going to win the case. I’m confident we are going to win the case and that there will be no liability there. That’s not going to be determined for a while yet but I’m very confident that we are going to win the case. It’s something we got into in quite a lot of detail. I’ve spoken to the legal counsel dealing with the case. He’s very confident that we are going to win the case.”

Related Articles

‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

3m Emma Smith, Managing Editor
OTS report: Corporation tax should follow accounts

Corporate Tax OTS report: Corporation tax should follow accounts

5m Alia Shoaib, Reporter
HMRC tax evasion assistance requests double in five years

Corporate Tax HMRC tax evasion assistance requests double in five years

5m Emma Smith, Managing Editor
Spring Budget 2017: Making Tax Digital

Business Regulation Spring Budget 2017: Making Tax Digital

9m Shereen Ali, Deputy Editor
Tax fraud loses HMRC £16bn

Corporate Tax Tax fraud loses HMRC £16bn

10m Emma Smith, Managing Editor
HMRC nets £2.6bn in corporate tax from big businesses

Corporate Tax HMRC nets £2.6bn in corporate tax from big businesses

11m Accountancy Age editorial
Tax crackdown brings in £468m for HMRC

Corporate Tax Tax crackdown brings in £468m for HMRC

11m Accountancy Age editorial
Treasury Select Committee report released on Making Tax Digital

Accounting Standards Treasury Select Committee report released on Making Tax Digital

11m Stephanie Wix, Writer