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Finance Notes: Rangers Charged By SFA Over Unpaid Tax Bill

Scottish Premiership side Rangers was charged by the Scottish FA with breaking rules over an unpaid tax bill before it was awarded a license to play in European football in the '11-12 season. The governing body brought two charges against the Ibrox club which relate to the so-called "Wee Tax Case" in paperwork submitted to Hampden. The SFA instructed compliance officer Tony McGlennan to investigate the circumstances surrounding Rangers UEFA license application in '11. He decided that Rangers has a case to answer over the "monitoring period" of '10-11 and '11-12 (HERALD SCOTLAND, 5/15).

The polo club founded by Prince Philip in '55 "blamed its first annual loss in five years on a controversial Home Office decision to impose tougher immigration rules on overseas players and grooms." The Guards Polo Club, which "regularly draws members of the royal family to its tournaments," registered a net loss of £78,000 last year, according to filings submitted last month to Companies House. This was a "sharp reversal" on the net profits posted in each of the three preceding years of £43,512, £59,672 and £95,367, respectively (FINANCIAL TIMES, 5/14).

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