Rank tax battle goes to appeal
BINGO hall and casino owner Rank Group has received £42.5million in overpaid VAT from the tax man following a lengthy legal battle.
But the case is set to continue because Her Majesty’s Revenue and Customs has appealed and the claims will be considered by the European Court of Justice next year. If Rank loses, it may have to repay the money with interest.
It claims there was inconsistent application of VAT on its businesses, resulting in £16.1million overpayment on bingo and £26.4million on amusement machines.