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Rank gets £42.5m back from HMRC
Fri, 21st May 2010 16:30
Casino and bingo hall operator Rank Group has received £42.5m in overpaid VAT from Her Majesty's Revenue and Customs but HMRC is still appealing the case. The repayment relates to £16.1m overpaid on games of bingo between 2004 and 2009 and £26.4m relating to amusement machine revenues between 2002 and 2005. HMRC is still appealing the High Court ruling and the claim will be considered by the European Court of Justice. This appeal should be heard in 2011. If the HMRC appeal is successful Rank will be forced to return the payment plus interest.
Rank Group Plc
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