Former Rangers stars 'will have EBT penalties wiped' claims report

Share this article
0
Have your say

Former Rangers players will have their penalties for using Employee Benefit Trusts wiped away after HMRC was said to have overestimated the club's tax bill, according to reports.

READ MORE - Rangers' overcharged £50m in tax bill which led to liquidation, according to reports
The Times revealed on Thursday morning that the Taxman should have claimed £20 million in monies owed, instead of the £70 million bill they were given.

Rangers could've been billed as much as 50 million than they should have. Picture: SNS

Rangers could've been billed as much as 50 million than they should have. Picture: SNS

HMRC eventually won its case against Rangers using EBTs as a means of paying players while avoiding tax and were said to be looking into the cases of individual players and managers - such as Barry Ferguson, Dick Advocaat and Kris Boyd.

However, The Times claims that HMRC has now been forced into dropping the penalties levied against individuals in thousands of cases.

A source told the newspaper: "The revenue might present that as them being benevolent but in fact there is no legal basis for them to get those penalties."