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.