Update on VAT refund claim
Business update
The Rank Group Plc
LEI: 213800TXKD6XZWOFTE12
22 November 2021
The Rank Group Plc (LSE: RNK) ('Rank' or 'the Group') provides an update on its VAT refund claim
Rank has reached agreement with HMRC on the quantum of its claim for the refund of VAT paid on slot machine income in the period from April 2006 to January 2013.
The refund has been agreed at £77.5m and should be received by the Group shortly. Interest is also due on the claim which Rank expects to be circa £5.5m. Both amounts will be subject to corporation tax at 19%.
Rank intends to use the proceeds to strengthen its balance sheet and to fund continued investment in its transformation programme.
Forthcoming announcements
Rank will announce its interim results on 27 January 2022.
Ends
Contacts:
Rank
Sarah Powell - investor relations Tel: +44 1628 504 303
David Williams - public affairs Tel: +44 1628 504 295
Media Enquiries:
FTI Consulting LLP (PR adviser to Rank)
Edward Bridges Tel: +44 20 3727 1067
Alex Beagley Tel: +44 20 3727 1045
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 1 hour ago Alphawave IP Group
- 2 hours ago WH Smith
- 3 hours ago Staffline Group
- 3 hours ago Manchester & London Investment Trust
- 3 hours ago Associated British Foods