Everyone knows that Rangers went out of business owing millions in unpaid VAT and PAYE payments.
HMRC are still pursuing the dead club over a tax bill of circa £75m which is still to be adjudicated on by an Upper Tier Tax Tribunal.
The club called that claimed to be uber dignified colluded to ensure that Glasgow traders, a diverse bunch from face painters and local newsagent to the Scottish Ambulance Service and perhaps the most vital service providers of all, the shredding firm Shred-it, were all out of pocket.
But now Sevco claims to be cash rich with £22m in the bank from an ultra-successful share issue, or so we are told.
Happy days are here again down Edmiston Drive way …well, maybe not.
There are those in Glasgow City Council who expect to be hit with a demand for a rates rebate from the ultra-rich third division club.
They have been alerted that a tax exocet will be with them in the near future as a request for a ONE MILLION POUNDS plus rebate is on its way from the new millionaires of the minor league.
I am told that Sevco will cite a change in income and a revision in the value of the property as their reasons for Glasgow’s city managers to hand back the monies.
As the City Council is forced into draconian measures to save money including the redundancy of around 1,000 staff and cut backs in many vital services no doubt their request will be viewed with consternation and some disgust.