FORMER Rangers star Barry Ferguson transferred his luxury mansion into his wife's name six years before his bankruptcy, it has emerged.

The ex-Scotland captain, applied for bankruptcy after accumulating debts of more than 1.4 million, gifted his joint share in the house to wife Margaret.

Their home is a gated property near Larkhall, Lanarkshire, which the couple bought for £1.2 million in 2003.

Property records show Mrs Ferguson, 39, became the sole owner in November, 2011, when the footballer handed over his interest in the home for 'love, favour and affection'.

Under bankruptcy laws, an asset which has been transferred more than five years before the date a person is made bankrupt cannot be used to pay off their debts.

Ferguson also gave up all his company directorships in firms which he ran with his wife.

He resigned as a director from an investment company, a nursery business and a media firm during 2013 and 2014 but Mrs Ferguson remains involved in them all.

He is one of a number of former Ibrox stars who faced paying back money they had received in Employee Benefit Trusts after Rangers lost a battle with HMRC at the Supreme Court.

Ferguson received £2.5 million in EBT payments and invested in a film production partnership called Eclipse which was ruled to be a tax avoidance scheme.

The Rangers 'big tax case' found more than £47million was paid to players, managers and directors in EBTs between 2001 and 2010.

A spokesman for HMRC said: "We do not comment on identifiable taxpayers."

Ferguson was unavailable for comment.