I have heard some right guff in the last 12 hours. Some people seem to think by going into Administration that Rangers simply don't have to pay anything to HMRC, nothing could be further from the truth. The debts don't simply get "written off". This (I believe) is a desperate ploy by Whyte, he has no cards left to play and HMRC hold all the aces. They(HMRC) are owed the most so when it comes to deciding whether or not Rangers are allowed a CVA, HMRC will have the biggest say in the matter and it does not look as if they are in the mood for negotiation. I may be wrong but things don't look good for Rangers right now.
That's pretty much where it's at. HMRC will make a commercial decision when dealing with the Administrator. Heard on the news this morning that there are an estimated 5000 companies in the UK who have used EBT's who are watching with interest.
Aye there's the rub. I doubt that HMRC will take their foot off the gas when they are after everyone who abused EBTs.
please log in to view this image Im still perplexed as to how a billionaire like craig whyte has let things get so messy
