Today’s settlement between Binder Dijker Otte (or BDO as they’re better known) and HMRC brings, finally, definitively to an end the ‘Big Tax Case’ against Rangers and once and for all ends any remaining embers of nonsense of the 10-year chaos of the whole affair.
Long story short, Rangers actually already won this case twice, but HMRC refused to accept those verdicts, so appealed yet again, and this time won, with the Supreme Court awarding them £64.5M in what they claimed is lost tax & national insurance.
BDO have now settled the whole thing out of court, to the tune of around £10M less than that, and HMRC accepted the terms and it’s case closed. Completely and absolutely, to everyone’s satisfaction. Sort of.
This means that all creditors from 2012, who rejected the Company Voluntary Arrangements of a much lesser reimbursement for the sake of keeping Rangers’ previous holding company solvent, will now receive their cash back with a little profit on top as well.
Now, there’s a lot of caveats in here – a big one being that the case had been lost twice by HMRC so to go third time lucky doesn’t make them rightfully ‘winners’, it just means one court had a different view from two others.
It also means all creditors do get remuneration now, albeit a spot late – they get their money back with a little sweetener on top.
Lastly, it brings the whole messy sordid nonsense to an end – Rangers have had this rubbish over us for a while, and now that BDO will sort it out with HRMC definitively, we can finally move on completely.
Of course, Rangers fans moved on a long time ago, so did the club, it’s the bitter wee minds in Scottish football that kept going on about it, which is their want. They’re the ones obsessed with it, and indeed some muppets made their actual careers from it. Three Names, Alex – we’re looking at you two especially.
But it’s done, it’s finished, and it was settled.
We can all move on now happily. Even if some of ‘you’ can’t.