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Rank receives £42.5m in overpaid VAT from HRMC

24th May 2010 9:04 am GMT

Rank Group said Friday that it has received repayments from Her Majesty's Revenue and Customs (HMRC) amounting to £42.5m in VAT overpaid on revenue from main stage bingo and amusement machines.

The repayment covers VAT paid on games of main stage bingo worth £16.1m between 2004 and 2009, and VAT paid on amusement machines amounting to £26.4m between 2002 and 2005. The repayment by HMRC follows successive rulings in Rank's favour in both the First-Tier Tribunal's [...]

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