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Rank Group loses its claim for overpaid VAT

08 July 2015 10:38

The Rank Group says it has noted the decision of the Supreme Court in favour of HM Revenue & Customs ("HMRC") regarding claims for overpaid VAT on certain types of amusement machines between 2002 and 2005.

Following a Court of Appeal ruling against the company in October 2013, Rank repaid £25.2m (in May 2014) of the £30.7m received in connection with these claims to HMRC and fully provided for the remainder.

As a consequence, the decision has no impact on Rank's financial performance or balance sheet strength in the current or future periods.

At 10:38am: (LON:RNK) Rank Group The PLC share price was -2.3p at 225.9p

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