Caffyns Regulatory News (CFYN)

16 Jul 2007 16:07

Caffyns PLC16 July 2007 Caffyns plc - VAT Claim On 20 March 2007, Caffyns plc ("the Company") announced that it had received£2.978m from HM Revenue & Customs ("HMRC") in respect of a claim relating to VAToverpaid on demonstrator vehicle bonuses. The amount received comprised theclaim of £1.378m and interest of £1.6m. There was uncertainty relating to the retention by the Company of the moniesreceived pending the outcome of a case due to be heard in the House of Lordslater this year. Following a change of view by HMRC, confirmation has beenreceived that the monies can be retained by the Company and that their retentionis no longer dependent upon the outcome of this case. The monies received (less professional costs incurred) amounting toapproximately £2.9m, will be treated as income in the Company's Income Statementfor the half-year ending 30 September 2007. Enquiries: Simon CaffynChief Executive Mark HarrisonFinance Director Telephone: 01323 730201 16 July 2007 This information is provided by RNS The company news service from the London Stock Exchange