David Murray put on spot over Rangers EBT use as Simon Jordan reveals why he rejected controversial tax scheme

Former Rangers owner Sir David Murray defended his use of Employee Benefit Trusts (EBTs) after being questioned by Simon Jordan on Graeme Souness's podcast. Jordan revealed he rejected the tax avoidance scheme while at Crystal Palace due to potential HMRC risks. Murray stated he approved the scheme because it had been signed off by company auditors, including Ernst & Young.

Murray claimed Rangers were unfairly targeted by HMRC as an example and argued that the club did not need to go bust. He pointed to excessive initial tax penalties and the collapse of the Bank of Scotland as decisive factors, though he conceded he made some decisions based on vanity rather than sanity.