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Tuesday, October 30, 2012
Gers reassure fans

ESPN staff

Rangers have issued a statement to assure fans that the ruling on the use of Employee Benefit Trusts will not affect the current regime.

• Green rules out SPL return

A tax tribunal will assess the use of the system during the first decade of the new millennium and financial punishments could be brought as a result but, with the original club having been liquidated earlier this year, the newco will not be affected.

A statement on the club's official website read: "There has been growing speculation recently that an announcement from the First Tier Tax tribunal is imminent. The club has no knowledge of when such an announcement will be made.

"However, the club as it now stands as part of The Rangers Football Club Ltd has been informed by Her Majesty's Revenue and Customs that any decision by the First Tier Tax Tribunal will not affect the operations of The Rangers Football Club Ltd."

The statement added: "HMRC have recently reaffirmed this position to the club's tax advisers, Deloitte. The Rangers Football Club Ltd is a company free of external debt and all liabilities relating to 'oldco' are a matter for the administrators."

Information from the Press Association was used in this report.




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