Liquidators BDO to appeal decision over Rangers' use of EBTs

Rangers' liquidators BDO will try to overturn a Court of Session ruling on the club's use of Employee Benefit Trusts between 2001 and 2010.

They will formally seek leave to appeal the decision made by three judges to the Supreme Court in London.

Lord Carloway, Lord Drummond Young and Lord Menzies ruled in favour of HM Revenue and Customs earlier this month.

HMRC had previously lost appeals at a First Tier Tax Tribunal and an Upper Tier Tribunal in 2012 and 2014 before success at the third attempt on November 4.

The judges concluded Rangers had avoided paying millions of pounds due in tax through the EBT scheme.

They had paid players and staff tax-free loans over a nine-year period but HMRC said they were salary payments and were therefore subject to tax.

Although any final verdict will not impact on the current owners of Rangers, BDO - the liquidators of the club's former holding company - intend to appeal.

A statement said: "Following discussions with the company's legal advisors and the liquidation committee, the joint liquidators have filed an application seeking leave to appeal the Inner House of the Court of Session decision in respect of the EBT case.

"If the company successfully obtains leave to appeal, the appeal will be heard in the Supreme Court in London.

"The joint liquidators are not in a position at this stage to make any further comment in respect of the appeal."