Thursday 14 November 2019 20:51, UK
The accountancy firm appointed as liquidator following Rangers' financial collapse in 2012 say they remain in negotiations with HMRC following a report which claimed the authorities overcharged the club in relation to a tax bill.
The Ibrox club were forced into administration in February 2012 over non-payment of PAYE totalling around £14m during the ownership of Craig Whyte, and, after a CVA proposal was rejected by HMRC, the club's former operating company was liquidated in October of that year.
Whyte bought Rangers from former owner David Murray for £1 in 2011 as HMRC continued to investigate over the club's use of employee benefit trusts or EBTs.
On Thursday, The Times reported that "up to £50m is set to be wiped off the tax bill" related to the EBTs after HMRC reportedly acknowledged it had claimed for too much.
The newspaper reported that accountancy sources now believe the outstanding bill was nearer to £20m.
Rangers' former chairman John McClelland said uncertainty over the size of the tax bill prevented genuine buyers from looking to take control of the club at the time and played a part in the financial collapse under Whyte.
"At the time of the sale of the club in 2011, had the tax claim been at the level now being reported then, in my opinion, the outcome would have been different," he told The Times. "I believe there would certainly have been a much higher level of interest in acquiring it and therefore more potential buyers."
A statement from accountancy firm BDO said negotiations are ongoing with HMRC regarding the bill.
"Since we published the last creditors report in June, BDO's tax specialists have been negotiating with HMRC over the size of the tax bill," a BDO statement said.
"There is no final decision, negotiations are ongoing and we expect a resolution of this in 2020."
