Business
VAT Tribunal ruling on amusem
VAT Tribunal ruling on amusem.
About this update from Rank Group Plc
[{"type":"text","content":"\n RNS Number : 1070E Rank Group PLC 15 December 2009 \n\n15th December 2009\n\nVAT Tribunal rules in Rank's favour on amusement machines claim\n\nThe Rank Group Plc ('Rank' or the 'Group') notes the decision from the VAT and Duties Tribunal (the 'Tribunal') regarding the Group's claim for VAT overpaid on certain types of amusement machines between 2002 and 2005.\n\nAs a consequence of this ruling, Rank will request payment from Her Majesty's Revenue & Customs ('HMRC') of £25.9m of overpaid VAT. The Group expects to receive payment during the first quarter of 2010.\n\nThe decision follows an interim ruling from the Tribunal in August 2008 that the UK's VAT treatment of amusement machines contravened the European Union's principle of fiscal neutrality. This latest ruling confirms, amongst other things, that the ruling is valid for the full three years of Rank's claim period.\n\nIn June 2008, the Tribunal made a separate ruling in Rank's favour on the application of VAT to bingo. Both the bingo and amusement machines rulings have been appealed by HMRC and the Court of Appeal is scheduled to hear these appeals in April 2010.\n\nends\n\nFurther information\n\nThe Rank Group Plc\nDan Waugh, director of investor relations 01628 504053\n\nFD\nBen Foster/Marc Cohen 020 7831 3113\n \nNotes\n\n1) Rank Group's claim\nRank's claim covers the period 2002 to 2005 (inclusive) and relates to VAT paid on revenue from Section 31 and Secti...