Business
VAT - High Court ruling
VAT - High Court ruling.
About this update from Rank Group Plc
[{"type":"text","content":"\n RNS Number : 5123T Rank Group PLC 08 June 2009 \n \n8th June 2008\n\nHigh Court upholds Rank Group VAT claims\n\nThe Rank Group Plc ('Rank' or 'the Group') welcomes today's announcement from the High Court that it has upheld the Group's claims for VAT overpaid on games of interval bingo and gaming machines. \n\nThis announcement supports last year's rulings by the VAT & Duties Tribunal ('the Tribunal') that the inconsistent application of VAT to interval bingo and gaming machines contravened the European Union's principle of fiscal neutrality.\n\nAs a consequence of last year's Tribunal ruling, Rank received £59.1m from Her Majesty's Revenue & Customs ('HMRC') in respect of VAT paid on interval bingo between 2003 and 2008. Rank is entitled to interest on this claim.\n\nRank's claim for £26.0m of VAT paid on gaming machines between 2002 and 2005, has also been upheld by both the Tribunal and the High Court. The Tribunal is scheduled to reconvene during October 2009 to rule on a number of outstanding considerations, including whether its ruling should apply to the claim period in its entirety.\n\nHMRC has until 29 June 2009 to submit an appeal against the High Court's rulings.\n\nends\n\nFurther information\n\nThe Rank Group Plc\nDan Waugh, director of investor relations: 01628 504 053\n\nDeloitte LLP (tax advisers)\nJamie Harley 020 7303 5037\nCeline Gordine-Wright 020 7007 6384\n\nNotes to editors\n\n1) Interval bingo claim\nInterval bingo is a popular form of bingo played during the intervals between games of traditional (or 'main stage') bingo. Rank's claim relates to VAT paid on revenue from games of interval bingo played in its Mecca Bingo clubs between Janua...