HM Revenue and Customs wins fight with oldco Rangers in landmark tax case
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ByEurosport
Updated 05/07/2017 at 09:55 GMT
HM Revenue and Customs has won its battle with Scottish club Rangers over the use of Employee Benefit Trusts (EBTs).
Ibrox Stadium
Image credit: Eurosport
More than £47m was paid to former players, managers and directors at the club between 2001 and 2010 in loans that were tax-free.
HMRC had argued earnings should have been taxable.
The Glasgow club were forced to start life again in the Scottish Third Division under a different company after being liquidated in 2012.
Two tribunals had found in favour of Rangers before a ruling in their favour in the Court of Session in Edinburgh in November 2015 which the Supreme Court has upheld.
Liquidators BDO could appeal to the Supreme Court as the outcome of the case is likely to have effect on other British football clubs who also used similar EBT schemes.
But the case is finally at an end after seven years.
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