Rangers furious over ‘solvency concern’ claim

Rangers’ financial affairs are currently under the spotlight, with an ongoing dispute with HM Revenue and Customs (HMRC) over a £2.8 million tax bill. They are also facing litigation by Martin Bain, former chief executive at Ibrox.

Sheriff officers visited Ibrox last month over a £2.8m bill, while reports have claimed almost £3m of the club’s cash has since been “ring-fenced” by HMRC.

The £2.8m bill relates to “player compensation schemes” between 1999 and 2003, and was first revealed when the club’s interim accounts were published in April, before Craig Whyte took over the club.

Rangers, who are defending themselves against HMRC in another long-running historical dispute, are thought to be willing to pay the full amount, but are questioning a fine, which is said to be about £1.4m. Last week, HMRC took action to have a seven-figure sum ring-fenced in Rangers’ bank account relating to a £2.8m tax bill.

The sum will remain unavailable to the club until the matter is resolved.

Rangers is believed to be disputing a £1.4m late payment penalty attached to this. Levy & McRae had raised its action over fees for work carried out before the club was taken over by Mr Whyte in May.

At a hearing last week, Lord Hodge questioned a suggestion by Rangers that those currently in charge of the club had no knowledge of whether the sum was due.

Last night, Peter Watson, senior partner with the law firm, said: “I was surprised that we weren’t paid. This was not a massive bill, in fact it was quite modest and had been approved by the club’s previous owners. It had been charged at the rate agreed for work done.

“If you don’t get paid you sue to recover. We had no option left but to take action.”

A Rangers spokesman said: “The remarks in the Court of Session today made by Levy & McRae with regard to their concerns about the club’s solvency are unfounded and unwarranted, and these are nothing more than scaremongering tactics. The club is extremely disappointed and angry that this action was taken when there were categorical assurances from the club’s lawyers that the money was on its way, and it is regrettable that those assurances were not deemed sufficient by Levy & McRae.”

Last night, Rangers manager Ally McCoist expressed concerns over the club’s ongoing dispute with HMRC.

“There is obviously a concern,” he said. “I’m a Rangers fan and anybody involved with Rangers would be concerned.

“But, at the same time, you have to be realistic. HMRC has a problem with the club that we have known about for some considerable time now.

“If there was something I could do about it that would help the club, believe me, I would do it right now. But I can’t. It’s something that’s totally outside my control, so I can’t worry about it and I won’t worry about it.

“My main concern is that I’ve got a duty to the supporters and the players to turn out teams to win games of football.”

McCoist – who took over at the Ibrox helm when Walter Smith quit at the end of last season – added: “It’s not annoying. It’s just part and parcel of the job.

“Everything that has been coming our way, we will handle. We won’t shirk anything.”