BusinessBusiness RecoveryRangers tax bill increases by £4m from interest and penalties

Rangers tax bill increases by £4m from interest and penalties

Interest and penalties see Rangers' tax bill rise £4m to £18.3m

RANGERS’ TAX BILL has grown by £4m in interest and penalties, according to the club’s administrators.

The Ibrox club now owe HM Revenue & Customs £18.3m for non-payment of PAYE and VAT in the nine months after Craig Whyte’s takeover of the club, reports Scottish publication STV.

A spokesman for the administrators confirmed to STV that the increase is due to interest and penalties imposed by HMRC, rather than failure to pay PAYE and VAT since Paul Clark and David Whitehouse were appointed administrators on 14 February.

The latest figure is an increase of £4m from the £14.3m Duff & Phelps administrators reported to creditors in April.

The penalties come after the administrators drew up proposals to rescue the club, on which creditors will vote next week.

The taxman has now primed BDO liquidators if a rescue deal should fail to materialise.

 

Related Articles

SFP sells off Pixel Projects and saves all staff

Business Recovery SFP sells off Pixel Projects and saves all staff

1y Stephanie Wix, Writer
Administrators from KPMG appointed to City Motor Holdings

Business Recovery Administrators from KPMG appointed to City Motor Holdings

1y Richard Crump, Writer
Begbies Traynor appointed administrators of William Anelay

Accounting Firms Begbies Traynor appointed administrators of William Anelay

1y Richard Crump, Writer
FRP Advisory sells Harland Machine Systems to Accraply Europe

Accounting Firms FRP Advisory sells Harland Machine Systems to Accraply Europe

1y Richard Crump, Writer
CVR Global sells DMG Steelworkers out of administration in pre-pack deal

Accounting Firms CVR Global sells DMG Steelworkers out of administration in pre-pack deal

1y Richard Crump, Writer
Smith & Williamson appointed administrators of 4Children

Accounting Firms Smith & Williamson appointed administrators of 4Children

1y Richard Crump, Writer
Cowgill Holloway concludes sale of film distributor Metrodome

Accounting Firms Cowgill Holloway concludes sale of film distributor Metrodome

1y Richard Crump, Writer
Number of winding up petitions filed by HMRC rises by 13%

Business Recovery Number of winding up petitions filed by HMRC rises by 13%

1y Richard Crump, Writer