The latest court judgment over the so-called Rangers 'big tax case" is expected to be issued on Wednesday.

Her Majesty's Revenue and Customs launched a second appeal against earlier court decisions on payments made by former Rangers owner Sir David Murray's group of companies, including the now liquidated Ibrox outfit.

READ: RANGERS REVEAL OPERATING LOSSES OF £7.5M

The decision will have no impact on the current regime at Rangers, but could have a big effect on payouts to creditors of the oldco.

Many believe the spectre of a massive loss in the long-running tax case which the club could not pay was the main reason for the financial implosion that led to the club's operating company entering liquidation.

In July 2014, a judge largely dismissed HRMC's first appeal against a first-tier tribunal (FTT) majority verdict which had decreed that a £46.2 million tax demand on Sir David's company, most of which referred to oldco Rangers, be ''reduced substantially''.

The victory was qualified as Lord Doherty referred an unknown number of termination payments and five ''guaranteed bonus'' payments back to the original tribunal but Murray International Holdings claimed it left it with a "negligible tax liability''.

The Murray group contends that the payments - made through the now outlawed Employee Benefit Trusts from 2001 to 2010 - were loans and not taxable income.

The Judiciary of Scotland announced that the appeal judgment will be available online by lunchtime.

Sir David sold his majority stake in Rangers to Craig Whyte in May 2011 and the club was consigned to liquidation 13 months later over separate debts, before being relaunched as a new company.