One year ago today I uploaded this piece on the Rangers tax story.http://www.philmacgiollabhain.com/taxing-times-for-rangers/
In the previous weeks I had provided copy to a Sunday Newspaper in Scotland.
This was the first time that the basic facts and figures of the RFC tax case had been outlined.
In the twelve months since then those figures have not been challenged by any source inside the club.
So once more for the hard of believing:
The amount of underpayment is, according to HMRC, £24 million.
The Interest accrued is £12 million.
That makes £36 million that is currently in the Tax Tribunal system.
The three judges have yet to make their deliberation.
Should RFC lose this case then the penalties being sought by HMRC (£15 million) would be subject of a further tribunal.
The circular released by RFC’s new owner yesterday mentions an “insolvency event” scenario for the club apropos the tax case.
Now is there ANYONE out there left on Planet Fitba that can read that piece of mine from last year ago and disagree with its terms?
Good. That’s that settled then.