Further Ibrox court action likely

BDO expected to appeal against Rangers’ EBT tax ruling

IbroxAccountancy firm and liquidator BDO is expected to seek leave to appeal against the ruling that Rangers broke tax rules through the use of employee benefit trusts.

Rangers used the scheme between 2001 and 2010 which allowed players and staff to earn millions of pounds via tax-free loans.

HM Revenue and Customs claimed these were salary payments and should have been subject to tax. After losing two tribunals, it won its case at the Court of Session earlier this month. If BDO presses ahead with an appeal it will be heard by the Supreme Court.

Since the ruling arguments have raged over whether Rangers are entitled to retain trophies won during the period when the EBTs were operating or whether they should be wiped from the record books.

Announcing its decision, BDO said: “Following discussions with the company’s legal advisers and the liquidation committee, the joint liquidators have filed an application seeking leave to appeal the Inner House of the Court of Session decision in respect of the EBT case.

“If the company successfully obtains leave to appeal, the appeal will be heard in the Supreme Court in London.

“The joint liquidators are not in a position at this stage to make any further comment in respect of the appeal.”

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