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Rank shares hit 52-week high after VAT repayment

23rd March 2011 8:57 am GMT

Following successful rulings in both the First-tier Tribunal's tax chamber and the UK High Court, Rank Group plc said Tuesday that it has received £74.8m in overpaid VAT from Her Majesty's Revenue and Customs (HMRC), with a further £79.5m of interest relating to the claim expected to be received later this month.

The repayment covers VAT paid on games of bingo from 1973 to 1996 and follows successive rulings in Rank's favour in both the First-tier [...]

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