Rank Loses Vat Appeal

No effect on financials due to provisions already having been made

The Rank Group Plc has lost a Supreme Court appeal by Her Majesty's Revenue & Customs (HMRC) regarding an overpaid VAT claim on certain types of amusement machines between 2001 and 2005.
Following a Court of Appeal ruling against the Company in October 2013, Rank repaid GBP 25.2 million in May 2014 of the GBP 30.7 million received in connection with these claims to HMRC, saying it had fully provided for the remainder.
Rank said the decision has no impact on Rank's financial performance or balance sheet strength due to the provisions made.

Online Casino News Courtesy of Infopowa

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Casinomeister

Casinomeister

The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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