The Court of Session’s decision to rule that the EBT scheme operated by Sir David Murray when Rangers owner, during the years 2001 and 2010, was ‘subject to income tax’ has set the cat amongst the pigeons.
Rival fans are calling for Rangers to be stripped of titles to take place, for officials at the SPFL and Scottish FA to be investigated over their handling of the whole affair and above all the conclusion that Rangers cheated their way to silverware during those years – with players they would not have been able to afford without the now illegal EBT scheme.
HMRC claimed that Rangers owed as much as £75,000,000, including interest and penalties, as a result of their use of EBTs. But this was denied by Murray and Rangers who claimed that the £47.65 million of payments were actually loans rather than actual earnings and not subject to tax.
With today’s decision ruling that the payments were indeed subject to income tax, there is no news yet if old Rangers and Murray will appeal and take the case to the Supreme Court.
Just to remind you of who the beneficiaries were – here is a screenshot of the list taken from the BBC Scotland website: