COURT FAVOURS HMRC IN RANK GROUP VAT APPEA

Thursday October 31,2013 : COURT FAVOURS HMRC IN RANK GROUP VAT APPEAL (Update)
 
GBP 30.8 million at stake
 
The Rank Group Plc (Rank) has applied for leave to appeal to the Supreme Court following a ruling handed down by the Court of Appeal in favour of HM Revenue & Customs.
 
The case concerns a claim for overpaid VAT between 2002 and 2005 .
 
Rank was awarded the HMRC refund amounting to GBP 30.8 million following successful rulings from the First-Tier Tribunal tax chamber and the High Court back in 2010 but cautioned at the time that the HMRC had appealed the rulings.
 
Gala Coral would have been watching the proceeds with interest as it was also the recipient of an HMRC repayment of GBP 44.1 million of VAT and GBP 7.4 million of associated interest in relation to claims for overpaid VAT on certain types of amusement machines between 2002 and 2005.
 
The company said it "notes" the Rank Group ruling along with its filing for leave to appeal.