In full: Murray International Holdings' response to Rangers tax case
David Murray's company believe they are now subject to 'minimal tax liability'.
**Murray International Holdings say they are pleased that a first tier tax tribunal into Rangers' use of Employee Benefit Trusts has found they are now subject to "minimal tax liability".
A three-person tribunal heard representations over 29 days dating from November 2011, but failed to reach a unanimous verdict.
In response to the release of the judgement of the first tier tax tribunal on the operation of the Employee Benefit Trust (“EBT”), a spokesperson said: "We are satisfied that the tax tribunal has now published its widely awaited decision and note the contents thereof.
"We are pleased with the judgement which leaves minimal tax liability and overwhelmingly supports the views collectively and consistently held by our advisers, legal counsel and MIH itself.
"This has been an exceptionally long, difficult and expensive process involving not just the tax tribunal but also significant efforts to resolve the matter with senior HMRC officials on a commercially sensible basis for all parties.
"We will therefore review the detailed content of the decision with our advisers and legal counsel to ascertain what action, if any, is now required by MIH.
"While MIH has at all times respected the privacy of the Tax Tribunal proceedings, a substantial quantity of confidential information relating to the case has become available for public consumption stimulating considerable discussion and often ill-informed debate. This has been wholly inappropriate and outwith the fundamental principles of natural justice.
"We therefore formally request that the relevant authorities investigate how these sensitive details have been released so widely. We have instructed our lawyers to retrospectively review online and printed publications relating to the case to identify whether legal redress is either appropriate or necessary."