A match in which Rangers thought they had heard the final whistle being blown, has in fact gone into extra time, as HMRC confirms it is to appeal the tax tribunal ruling it lost last month.

The First-tier Tax Tribunal (FTT) decided in November that the use of Employee Benefit Trusts (EBT) by the now liquidated old Rangers Football Club was legal, meaning that £47.65m it gave to players and staff were loans and so exempt from tax.

An HMRC spokesperson confirmed that the taxman 'was seeking permission to appeal the decision' but refused to comment further on the case.

The shadow of a potentially large tax bill from what became known as the 'big tax case', loomed large over the Glaswegian club, but the decision on the payments made between 2001 and 2010 will not affect the new Rangers club that is currently plying its trade in the third tier of Scottish football.