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HM Revenue and Customs has lost its appeal over Rangers' use of Employee Benefit Trusts (EBTs) - the so-called "Big Tax Case".

Upper tier tribunal judge Lord Doherty dismissed the appeal against a first-tier tax tribunal decision but referred several issues back to the panel.

The tax authority had argued that payments made to players and other employees should be taxable.

The Murray Group, which formerly owned Rangers, argued they were loans.

The first-tier tribunal (FTT) had issued a 2-1 majority verdict in November 2013 which favoured, in principle, the Murray Group and ordered that HMRC's £46.2m demands, about three-quarters of which referred to the liquidated club, be "reduced substantially".

The upper-tier appeal has largely upheld that verdict but some payments will be re-examined by the original tribunal, including termination and "guaranteed bonus" payments.

'Termination payments'
However, the Murray Group appeared to secure an additional victory relating to payments made to several people including former Ibrox chairman Sir David Murray, which it argued were not special cases.

The judgement, which has no impact on the current Rangers owners, reads: "The appeal is dismissed except in so far as it relates to the termination payments.

"I shall remit the case to the FTT with a direction to allow the taxpayers' appeals against the assessments relating to the payments to the sub-trusts of Sir David Murray, his sons, Mr McClelland and Mr MacMillan; to proceed as accords in relation to the termination payments, the payments in respect of guaranteed bonuses, and any related questions of grossing up.

"Standing my findings and my disposal, the remit should be to the FTT as originally constituted."

It is unclear how many termination payments were made but the FTT's decision referred to five "guaranteed bonus" payments.

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We played Fulham today at Murray Park and won 4-2 with Miller, Faurr, Law and MacLeod on his first game back scoring a great goal, Rodellega and Dembele with the goals for Fulham

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[Locke.]

Very lucky that the Mit didn't play

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Is that Dembele related to the other Dembele?

[Drew.]

Don't think they are.. They are both called Moussa too

[Locke.]

Don't think so, one if Belgian and one is French

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Will expect to see you all here at 2.50am

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Why must you use Gingerbear at left mid Ally you tit!!!! He is a centre mid

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Gingerbear saving us with an assist from the corner and then with a great ball to Boyd for him to lay off black in the last minute to give us the win, the guy is unstoppable

60 mil please Arsenal

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Josy remind Stew that Rangers are playing at 2 tonight

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4 assists in 3 games

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Rangers v Hibs today, easy win for us

[MTVN]

No invincibles or unbeaten season this year then

[LeatherTrumpet]

That was 96 minutes of life I wont be getting back. Fecking jambo *****

[Locke.]

Falkirk are all over Rangers here, McLeod getting ripped apart

[Locke.]

Lucky bastards

That is going down as an own goal

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Gingerbear ripping Falkirk apart yo mean, 1 goal and 1 assist

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Oh my days, Gingerbear is going to become my favourite Rangers player ever if he keeps up this.. If he doesn't get a call up to the Scotland first team then their is no justice

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Rangers v Inverness tonight, nice easy cup win for us

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Stop it Lewis, you are to great for your own good

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Injured for the last two games and we gain 1 point and then comes back and scores an overhead screamer in the first 10 minutes, ladies and Gentleman I give you Gingerbear

[Drew.]

Wengers going to bid for him

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Dat Ginger Guy

[LeatherTrumpet]

Hardly makes up for the debacle against the edinburgh tims