11 Jul 2008 12:57
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: 01628 504053
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.
Rank (RNK)