Rangers FC tax tribunal set to run to January

[ian1964 10,811]

A tribunal dealing with an appeal by Rangers FC against a disputed tax bill and penalties totalling about £49m is set to continue into January.

 

The First Tier Tribunal in Edinburgh was expected to conclude on Wednesday. It has now been listed to take place on 16, 17 and 18 January 2012.

 

The disputed bill and penalties relates to Rangers' use of Employee Benefit Trusts to pay employees.

 

The club faces the prospect of administration if it loses this case.

 

Her Majesty's Revenue and Customs (HMRC) claims that £35m is owed by Rangers in unpaid tax with a further £14m due in interest and penalties.

 

HMRC has also had £2.8m of Rangers assets ring-fenced over a separate tax bill which the club is understood to be disputing.

 

Former board members Donald McIntyre and Martin Bain have also taken Rangers to court to freeze a total of £780,000 of assets pending the outcome of their damages claims.

 

BBC

[Guest Dutchy]

I don't know if this dragging on of this matter benefits us at all. We should be able to buy new players in the January window however!

[maineflyer 0]

I'd suggest it's either a straightforward scheduling matter .... or the case against us isn't as firm as HMRC would like and they're looking for time and cashflow to push us towards offering or accepting a settlement deal.

[Guest Dutchy]

Mmmm.... Possibly Miane, at first sight it appears that it's good for us, but if the penalty payments are £14 million at the moment, will they increase even more if we fail?

[pete 2,499]

Mmmm.... Possibly Miane, at first sight it appears that it's good for us, but if the penalty payments are £14 million at the moment, will they increase even more if we fail?

 

Do they not have to sue for a certain sum(49mill) and that remains the figure throughout the trial?

[Guest Dutchy]

I don't know. I thought the penalties where time based, like an interest charge???

[Guest rhcp1976]

at the end of the day , this is her majestys revenue and customs . unless we are 100% innocent , and it doesnt look like it . we should pay our dues !

[Guest Dutchy]

at the end of the day , this is her majestys revenue and customs . unless we are 100% innocent , and it doesnt look like it . we should pay our dues !

 

I don't think anybodys saying that we shouldn't pay what we're due to pay, if found guilty. There's probably some arguements as to whether we can strike a deal and pay any debt due in instalements, as opposed to going into administation.

 

Things are just not a clear cut as you seem to think them to be.

[GovanAllan 0]

at the end of the day , this is her majestys revenue and customs . unless we are 100% innocent , and it doesnt look like it . we should pay our dues !

 

HMRC are just as capable of making a cockup of things as the man in the street is. Have you ever tried to get money back off them that you are due.

[craig 5,199]

Mmmm.... Possibly Miane, at first sight it appears that it's good for us, but if the penalty payments are £14 million at the moment, will they increase even more if we fail?

 

The answer to that one is no Dutchy. The penalties are assessed based on the liability, not the time that the liability has remained outstanding.

 

The interest could possibly continue to be clocked up - but there would, I believe, be good reason to contest those if any delay is that of HMRC.