Penny Blockade.

The news that monies in Rangers’ bank account had been “ring fenced” by the Bank of Scotland  after a court application by HMRC should come as no surprise to the many thousands of readers who frequent this site.At this stage ,with an “arrestment order” in place, the situation at Rangers over this overdue tax bill becomes harder to spin in a positive light for the Ibrox club.

The arrival of Sheriff Officers last month was not normal practice. Yet the club said it was “calm” about the situation. It was,in fact, a sign that money was owed, was overdue and that a legal process was underway to get that money.

The visitation yesterday by two HMRC staff was also a sign that everything was not  in order.

As far as HMRC is concerned Rangers Football Club owes them money. Moreover the court agrees with HMRC!

When I arranged for my snapper to be outside Ibrox to capture the Sheriff Officers visiting last month I was informed by sources that a 21 day demand for payment was in force from that date and this would tie in with the timing of the revisit yesterday.

That period has now expired, hence the latest development which means that HMRC has petitioned the court to arrest funds on the back of the unmet demand.

Developing story.

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