HMRC appeals VAT decision

RNS Number : 9046Y

Rank Group PLC

11 July 2008

 

11 July 2008

HMRC appeals VAT decision

The Rank Group Plc ('Rank') notes that today Her Majesty's Revenue and Customs ('HMRC') has appealed the decision of the VAT and Duties Tribunal, relating to Rank's £36.3m claim for VAT paid on interval bingo. 

On 22 May 2008, Rank announced that the VAT and Duties Tribunal had upheld Rank's claim relating to VAT paid on games of interval bingo between 2003 and 2005. The Tribunal determined that the payment of VAT on these games had constituted a contravention of the European Union's law of fiscal neutrality. It is this decision that HMRC has now appealed. 

It is Rank's expectation that the appeal will be considered by the High Court during 2009.

Enquiries

The Rank Group Plc

Dan Waugh, director of investor relations            Tel: [phone]

FD

Ben Foster/Marc Cohen

Notes to editors

About the Rank Group

Rank is a leading European gaming business, head-quartered in the UK and listed on the London Stock Exchange (RNK.L). The Group's principal activities are: the operation of bingo clubs and casinos in the UK with complementary on-line gaming and bookmaking services. For more information about The Rank Group, visit www.rank.com.

 

END

 

 

MSCEAFXFFLKPEFE