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04/12/2012
HMRC Seek Right To Appeal Ranger Tribunal Ruling
HM Revenue and Customs is seeking permission to appeal against a tax tribunal ruling in favour of Rangers' use of Employee Benefit Trusts.
The club, which is now in liquidation, used the scheme from 2001 to 2010 to make £47.65m in payments to players and staff in the form of tax-free loans.
HMRC had challenged the payments, arguing that they were illegal.
However a a First Tier Tax Tribunal (FTT) ruled the scheme did not breach tax law.
In a majority decision, the tribunal said the payments - of about £49m - were loans, not earnings, and so were not liable for income tax.
HMRC now want to appeal the tribunal ruling.
(H)
The club, which is now in liquidation, used the scheme from 2001 to 2010 to make £47.65m in payments to players and staff in the form of tax-free loans.
HMRC had challenged the payments, arguing that they were illegal.
However a a First Tier Tax Tribunal (FTT) ruled the scheme did not breach tax law.
In a majority decision, the tribunal said the payments - of about £49m - were loans, not earnings, and so were not liable for income tax.
HMRC now want to appeal the tribunal ruling.
(H)
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