Supreme Court decides in Rank VAT case

RNS Number : 4872S

Rank Group PLC

08 July 2015

 



8 July 2015

The Rank Group Plc

Supreme Court decides in Rank VAT case

The Rank Group Plc ("Rank or Company"") notes 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.

Rank will announce its results for the year to 30 June 2015 on the 20^th August 2015.

Enquiries:

The Rank Group Plc                                                                              Tel: [phone]

Sarah Powell, Director of Treasury & Investor Relations

 

END

 

 

MSCPKFDDCBKKKOK