
Three Rangers directors leave as club undergoes shake-up
Their positions on the board will be filled by Americans Mark Taber, Andrew Clayton, and Gene Schneur.
The departure of Johnston, Park, and Wolhardt has been officially recorded on Companies House, with all three having their appointments terminated.
A new chairman, Andrew Cavenagh, has been appointed, replacing Fraser Thornton, who will remain on the board.
Read more:
Paarag Marathe has taken on the role of vice-chairman.
John Halsted and George Taylor will continue as directors, while chief executive Patrick Stewart remains in his role.
The new board members bring a wealth of experience to the club.
Mark Taber, a managing director at Boston-based growth equity firm Great Hill Partners, specialises in healthcare investments.
Andrew Clayton is co-founder and vice-chairman of ParetoHealth, a health insurance company founded by Cavenagh.
Gene Schneur, a board member and co-owner of Leeds United, is the third new face on the board.
Their appointments mark a new era for Rangers.
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Press and Journal
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The Herald Scotland
6 hours ago
- The Herald Scotland
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Telegraph
20 hours ago
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Receive free, personalised tips on how to improve your financial situation, for free. Here's how to apply or fill in the form below. Despite being born in the UK, Elizabeth Hopkinson, 25, felt little connection with the country for most of her life. A dual citizen with a British father, she was raised in a town outside Boston, Massachusetts before coming to the UK in 2023 to study. She says: 'I always just thought it was a random fun fact that I happened to be born somewhere else. But I spent the summer after uni in London and just really loved the city.' She continues: 'Where I'm from is really sleepy. I love that part of the world, but it can be isolating. Life is really centred around cars, so sometimes you feel a bit alien if you try to walk from place to place. I love that in London you get the hustle and bustle but it's also not too hard to find pockets of quiet and peace. It's special to have both in a city.' 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But things are a bit different in the UK – it feels like I'm starting from scratch.' On top of this, Ms Hopkinson wants some advice on how to invest tax-efficiently as a dual citizen. 'I don't pay taxes in the US because I don't earn enough, but as a US citizen who lives abroad, I still have to file taxes. I don't know if the same thing applies to returns on investment or how that works.' Annie Hughes, partner at Blick Rothenberg As a US citizen who has been living in the UK for some time, Ms Hopkinson is subject to tax on her worldwide income and gains in both jurisdictions. However, the US/UK Double Taxation Agreement works to assign the 'primary' right to taxation – and if implemented correctly with careful timing of tax payments, Ms Hopkinson shouldn't suffer double taxation. Being a dual US/UK taxpayer is complex and, when making investments, both the US and UK tax consequences need to be considered. We'll need to review each of Ms Hopkinson's income sources separately. Ms Hopkinson earns £37,000 annually and will pay UK income tax through Pay As You Earn (PAYE). While the income should be reported in the US, Ms Hopkinson will receive a credit for the UK taxes suffered. No additional US tax will be due. Alternatively, Ms Hopkinson may wish to use the foreign earned income exclusion on her US filings. This exempts the first $130,000 (£95,000) of employment income for those who are resident in a foreign country for the whole tax year. Given Ms Hopkinson's situation, this will likely be beneficial. Income and gains from her investments will be reportable in both jurisdictions. In the UK, the first £1,000 of interest income and £500 of dividend income outside of an Isa will be tax-free, as Ms Hopkinson is a basic rate taxpayer. Given the level of investment, it's likely no UK tax will be due. With no tax paid in the UK, US tax could bite. If the foreign earned income exclusion is used to exempt employment income, Ms Hopkinson will have her 'standard deduction' available – $15,000 for 2025. This deduction, available to all US taxpayers, reduces the amount of income subject to tax. As such, Ms Hopkinson may not have US or UK tax due on this investment income. As investment income grows, Ms Hopkinson should be aware that timely UK tax payments are essential to ensuring a credit in the US for UK taxes. As no withholding is applied to investment income, this means paying tax in advance to HMRC, aligning payments with the calendar year that income and gains arise. While Ms Hopkinson is a UK resident, HMRC would not give a credit for US taxes suffered, except some tax suffered on US dividends. Any investments held in the US should be reviewed to ensure they have 'reporting' status in the UK, otherwise income tax can be applied upon sale. Growth within an Isa is tax-free in the UK. However, they are not tax-free investments in the States. As UK tax rates are higher than the US, suppressing Ms Hopkinson's overall tax liability by using Isas is still sensible tax planning. Ms Hopkinson should be aware that US tax may be due on any income and gains, which will impact the return on investment. The Internal Revenue Service (IRS) has a whole raft of rules to dissuade US taxpayers from investing in non-US passive investments. Holding non-US passive investments can lead to penal tax rates and additional reporting requirements in the US; what the Isa holds should be carefully considered. A lifetime Isa would avoid these complications, as the funds sit in cash. However, the 'top up' payment will be taxable in the US. If Ms Hopkinson returns to the US, she can manage her days in the UK to become non-UK resident. Ms Hopkinson should consider her social security position, which will depend on the length of the move. Darius McDermott, managing director at Chelsea Financial Services Starting to invest in your 20s is one of the most powerful financial decisions you can make. Every year you delay means missing out on the compounding growth that turns steady monthly contributions into a much larger sum over time. By committing £400 a month for a decade, Ms Hopkinson is putting time firmly on her side. The eventual size of her pot will depend on market performance, but to illustrate the possibilities: investing £400 each month for 10 years could give her around £53,000 if she averaged a 2pc interest rate a year, roughly in line with a high street savings account. If returns averaged 5pc – close to long-term global equity averages after inflation – she might expect about £62,000. In a strong market, with 8pc average annual returns, achievable but with higher volatility, her pot could reach £73,000. These are estimates, but over a decade, a well-diversified, equity-focused portfolio has historically had a strong chance of positive returns. Using a stocks and shares Isa will also help Ms Hopkinson keep more of those gains free from tax. Diversifying her money across different regions, sectors and companies reduces the risk that a single poor performer drags down her portfolio. Given her timeframe and risk appetite, starting with a 100pc equity allocation is reasonable, but gradually shifting into lower-risk assets such as bonds or cash as she nears her goal will help protect her gains when she needs them most. Charges are also important. Passive trackers typically cost around 0.1pc a year, while active funds average 0.75pc. While trackers offer cost efficiency, an investor prioritising social value may prefer an active fund with more rigorous ESG (environmental, social and governance) screening and the ability to engage directly with companies to improve standards. Active strategies can also offer more targeted exposure to smaller companies or specialist sustainability themes. Given the complexity of US tax rules for UK-based investments, you should speak with a US-UK cross-border tax specialist before making any decisions. The right advice now can prevent costly mistakes later. With discipline and diversification, Ms Hopkinson's £400 monthly investment could grow into a meaningful deposit – and she'll have built it in a way that aligns with her principles. If she sticks to the plan, compounding will work in her favour.