HMRC appeal against Oldco Rangers big tax case ruling dismissed By Matt Coyle 9 July 2014 16:30 BST Ibrox Stadium Tax case: Judge dismisses HMRC appeal against Oldco Rangers Big Tax Case.© SNS Group The taxman has lost an appeal against the Oldco Rangers big tax case verdict after a ruling by a High Court judge. Lord Doherty has, in most part, dismissed HM Revenue and Customs appeal against the verdict. In 2012 a First Tier Tax Tribunal ruled that payments made to some Rangers players through EBT trusts were loans. The three-person First Tier Tax Tribunal could not reach an unanimous decision on the clubs use of Employee Benefit Trusts between 2001 and 2010. It found most of the trusts were valid and loans are recoverable by the trust, although it conceded some advances to players were taxable and any bill is likely to be substantially reduced from the initial £46.2m assessment. HMRC then appealed the 2012 ruling in relation to payments to sub-trusts of former Rangers owner Sir David Murray, his sons and two others. However, Lord Docherty on Wednesday dismissed the legal bid Lawyers acting for Sir David Murray submitted the HMRC appeal to the Upper Tribunal was a restricted one and said that in large part the appeal demonstrated a refusal by HMRC to accept that the tribunal had not agreed with their view of the facts. They added: In fact, a great deal of the evidence which had been led had been of marginal or of no importance. Lord Dochertys written ruling read: The appeal is dismissed except in so far as it relates to the termination payments. I shall remit the case to the FTT with a direction to allow the taxpayers’ appeals against the assessments relating to the payments to the sub-trusts of Sir David Murray, his sons, Mr McClelland and Mr MacMillan; to proceed as accords in relation to the termination payments, the payments in respect of guaranteed bonuses, and any related questions of grossing up. Standing my findings and my disposal, the remit should be to the FTT as originally constituted. news.stv.tv/west-central/282140-hmrc-appeal-against-oldco-rangers-big-tax-case-ruling-dismissed/
Posted on: Wed, 09 Jul 2014 16:18:05 +0000
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