Rank Group set for £80m VAT windfall

Finance News

Rank Group said Wednesday that the U.K. tax authority HMRC has decided not to appeal the groups VAT refund claim.

HM Revenue and Customs has decided not to appeal the decision handed down by the First-tier Tribunal on 30 June 2021 regarding VAT paid on slot machine income in the period from April 2006 to January 2013.

The First-tier Tribunal has agreed a 60-day extension to allow HMRC and Rank to agree the exact quantum of the claim which Rank still expects to be £80m. Judges last month ruled in favour of Rank, which owns Mecca Bingo and Grosvenor Casinos. The industry’s growth is lucrative for the Treasury with betting companies paying £2.8bn in tax in 2020-21.

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