“We are not a bank” is often stated by HMRC when companies ask for easy terms to pay.
If Rangers benefit from a sweetheart deal with HMRC, then the club would effectively escape without any financial sanction.
One of the tenets of HMRC is that an individual or company should not derive any benefit from not paying on time.
If the “big tax case” goes against the Ibrox club then they will have been found to be guilty of operating an illegal tax evasion scam.
This wheeze allowed Rangers to be the guy in the race on drugs.
The EBTs gave the Ibrox club a secret “war chest” of £24 million during the Advocaat and McLeish years.
If there is a CVA, then Rangers will have been rewarded for tax evasion.
If they are allowed time to pay, then truly HMRC will be providing a credit line to Scotland’s establishment club.
The knock on effect would be, almost certainly, to provoke other SPL clubs into using this get of debt free escape route and file for Administration.
The pleas have been heard over the last week that Rangers Football Club is a “Scottish institution” and part of the “fabric of the nation” well the same could be said of the Royal bank of Scotland.
Is Heart of Midlothian Football Club not also an “institution” revered by many?
It is certainly part of the “fabric” of life in the capital.
Indeed I believe that Scotland’s First Minister is a Jambo.
I am aware that Salmond’s own Special Advisers are privately uncomfortable with his intervention.
The agreed line from the “Spads” when they have been asked about it is that this was nothing more than a kite flying exercise with some soothing words from their boss.
Their reasoning is that if Rangers die then Salmond can say that he tried and if the Ibrox club is saved then he will bask in the glow a little.
However if there is a data trail from Salmond’s entourage to HMRC asking for special treatment for them then this could blow up in his face.
I know of one colleague who is excellently placed to excavate this story and he’s a Jambo too!
He thinks he has a fair chance of finding a Spad with his spade.