Glasgow Rangers’ Tax Bill Woe’s Set To Rise

By iSportconnect | February 24, 2012

Rangers have been dealt a further blow with the news that HMRC documents suggest it owes more than £13m and the bill could rise to £15m by the end of the month.

Rangers went into administration last week after HMRC took action over an unpaid tax bill of just over £9m.

In a statement released on Tuesday, Rangers chairman Craig Whyte claimed that some £4.4m of that total could be attributed to the so-called “wee tax case” which the club has been disputing.

But reports suggest new evidence has been uncovered leading to the argument that this statement is categorically untrue.

BBC Scotland have announced that they have seen HMRC documents, indicating that the £4.1m it froze from Rangers accounts last year to cover the small tax bill has been used for another purpose.

Instead, that £4.1m was used to pay VAT due on the £24m Rangers received as an advance on season ticket sales from the London-based finance firm Ticketus.

Craig Whyte has however disputed these figures:

He said: “I will absolutely be back to finish what I started at Ibrox. No-one else was willing to step up to save the club and I have only ever had the good of the club at heart.”

“In terms of the new figures suggesting the PAYE and VAT bill is more in the region of £14m as opposed to the £9m, those figures don’t stack up as far as I’m concerned.”

It is believed Rangers are unlikely to be out of administration in time to be eligible to play in European football next season.

 

By Marc Sibbons