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ALLY OOPS: GERS LEGEND HITS OUT AT TAXMAN’S £50m ‘ERROR’

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ALLY McCOIST insists HMRC will have to provide some serious answers to questions over the alleged mistake of overcharging £50MILLION that led to the downfall of Rangers.

A sensational report in The Times claims the taxman blundered following investigations into the Ibrox club’s use of EBTs.

It is believed the revised figure could have been dealt with by the old company and administration and liquidation might have been avoided.

Rangers dropped out of the Scotland top flight for four years as they made their way back in from Division Three.

McCoist, who was the side’s manager at the time of the financial collapse, told talkSPORT: “I have to say if this is the case, and I know HMRC haven’t commented this morning, but I imagine serious questions will have to be answered.”

According to the newspaper, accountancy experts now believe the amount owed by the club stood at £20million, a figure it has been suggested was more manageable and one that would not have triggered administration.

The report centres around the use of EBTs during Sir David Murray’s tenure as chairman of the club. The tax avoidance scheme eventually led to Murray selling the club to Craig Whyte for just £1 before the demise.

 

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Editor

Acclaimed author Alex Gordon wrote the biography of Scotland international legend Denis Law, entitled 'King and Country'. He is a former columnist with World Soccer magazine and Scottish correspondent of respected European journal L'Equipe.

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