Rangers chairman admits tax bill could reach £75m

Glasgow Rangers chairman Craig Whyte has said that the club's tax bill to HMRC could reach as high as £75m.

The Ibrox outfit served papers to the Court of Session in Edinburgh on Monday stating their intent to enter administration.

The Gers' bill was originally reported to be around £49m, but the owner has now said that the figure could be even higher.

"The £49m often quoted is the tax bill and interest but they can charge you a penalty on the tax bill, so we could have been up at £75m," said Whyte.

"It is a shocking figure and there is no way we could pay it."

Rangers' dispute with HMRC concerns the use of employee benefits trusts, which were implemented under former chairman Sir David Murray.