... if you know your history...
Dated: 16/01/2013
cc David Cameron, Alex Salmand, Kenny MacAskill, Ramsay Jones
"On February 14th 2012, the then Rangers FC plc went into administration through failure to pay HMRC outstanding substantial amounts of PAYE and VAT. In addition, the Club's historic use of EBTs was the subject of a First Tier Tax Tribunal which convened the previous year and had yet to return its decision.
"I led a consortium which wished to purchase the Club, preferably through a CVA with creditors. Our rationale for this was that the football club business would be able to retain its place in the SPL... As a failsafe, my consortium struck agreement with the administrators that we would purchase the business and assets of the Club, should a CVA be rejected by the creditors. This would, however, require the liquidation of Rangers FC Ltd (oldco) as it was and the formation of a new company.
"On June 11th 2012, HMRC announced it would not support a CVA, which rendered that process redundant. In its public statement HMRC said the decision would give Rangers 'a fresh start'.
"Since then, the Club has begun the very long road to recovery under the auspices of a new company. On November 20th, the First Tier Tax Tribunal found in Rangers (oldco) favour and the spectre of what became known as the 'big tax case' was ostensibly removed.
"However, the announcement by HMRC that it had sought leave to appeal the First Tier Tax Tribunal's decision has, once again, placed the Club in an invidious position.
"... the situation has been aggravated by the SPL's decision to press on with a Commission into the payments by Rangers to players through EBTs, even though the First Tier Tax Tribunal found that the payments were non-contractual and discretionary.
"It seems desperately unfair that the football club, and the wider football community which have already suffered as a result of Rangers' insolvency, should continue to suffer as we try to rebuild our Club and make a contribution to Scottish football that is vital to its survival.
"... I would ask that careful consideration is given to the potential impact of a drawn out appeal should one proceed... The fact of the matter is that Rangers and its supporters are major contributors to the football and wider economy, and it would be to the benefit of businesses throughout Scottish football that this matter is resolved as soon as possible."
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