Date: 14th November 2019 at 6:40pm
Written by:

Journalists at The Times in Scotland have had a busy day as they tried to push their five-month-old story that HMRC had reduced the final bill owed by the old Rangers club which remains in liquidation.

For seven years BDO have been picking up fees as they breakdown what went wrong at the old club and try to salvage something for the 276 creditors that were never paid. Among those waiting for payment are local authorities, utility firms, the emergency services, taxi firms, florists, newsagents and a face painter.

Every six months BDO issue a report to the creditors with the last one appearing in June as they attempt to close the file and issue a pennies in the pound payment to those creditors.

One of the biggest creditors is HMRC, owed money from the Flo and de Boer contracts (Wee Tax Case), non-payment of Income Tax and National Insurance from September 2011 to February 2012 and the unquantified Big Tax Bill.

Every six months, every report burns away at the dwindling creditors pot with HMRC the biggest losers of all.

Why this is newsworthy when the current club is short of £10m and facing a January bill to Sports Direct running to ‘many millions of pounds’ is the big question. Perhaps five months after the next implosion/meltdown (administration and liquidation) we’ll get a comforting re-write from The Thunderer.