After a day of absolute nonsense with mainstream media sources helping to fuel incredible conspiracies HMRC have issued a statement to set the record straight.
Based on a five-month-old report to creditors from BDO the tax authority has demolished in one tweet what is being spun into a victory for the old Rangers club which is seven years into the liquidation process for 267 creditors.
As widely reported today and to clarify: HMRC won against Rangers’ tax avoidance in the Supreme Court, and did not miscalculate anything
— HMRC Press Office (@HMRCpressoffice) November 14, 2019
Having rejected Charles Green’s attempt at a CVA, HMRC are the largest single creditor due a pay-out from whatever cash BDO can claim from the death of the old club in 2012.
Additionally, five years after the liquidation process began, HMRC won their case at the Supreme Court that £47m paid out by the old club was disguised remuneration and liable to Income Tax and National Insurance.
After more than a decade of trying there is a sliding scale of penalties that can be applied to the £47m liable to tax, that amount has been discussed between HMRC and BDO with the tax authorities dropping their demands in order to reduce the time in which both sides are running up costs from the dwindling creditors pot.
Five months down the line that aspect has been seized on by The Times and others and acclaimed as a victory for the old club with top spin applied, ignoring the fact that the Big Tax Case was five years away from being resolved with the club died.
HMRC very rarely comments on specific cases but in this instance have taken exception.
If The Times story was inspired by current difficulties between the club and HMRC they might find the tax authority less than sympathetic to their plight after being put in the spotlight.