Rank PLC Gets Financial Boost

Big tax refund sees another obstacle

Following the successive rulings of the First-tier Tribunal’s tax chamber (formerly the VAT and Duties Tribunal) and the High Court, the UK-based online and land gambling group Rank plc has received GBP 74.8 million in overpaid VAT from Her Majesty’s Revenue and Customs.

The sum includes VAT paid on games of bingo from 1973 to 1996, but the company also received notice that it will receive around GBP 79.5 million of interest relating to this claim later in the month.

However, before this happens, the European Court of Justice will have a final say in an appeal initiated by Her Majesty’s Revenue and Customs. The appeal should be heard later in 2011, the group announced, adding that if HMRC is successful in its appeal, Rank will make the appropriate repayments.

Regarding these claims, which refer to the inconsistent application of VAT to bingo revenue generated by Rank’s businesses, it was specified that it is Rank’s contention that this inconsistency contravened the European Union’s principle of fiscal neutrality.

Live activity feed

  • Panda kiss
    "LCB exclusive 10 free spins on "Fairytale Legends: Red Riding Hood - available for new players and all players that have signed up to ComeOn from LCB's link. Don't have an account at ComeOn? Sign up >HERE< Restricted countries:  Denmark, Bulgaria, Estonia, and Portugal."
  • No avatar small
    "I'm still waiting on mine from Slotastic which is still showing as "Under Review". Just got thru with Live Chat who were no help. They advised it took 2 days to review and approve a withdrawal request then 2 more days to transfer the requested funds. When I asked why there was such a delay beings the withdrawal was in bitcoin instead of answering my question the operator got snippy with me and just repeated what she had already told me like I was a child who had to be told twice. I think Casino Extreme was the one I was reading about that had the fastest bitcoin withdrawal payout times. I guess I just assumed all casinos accepting bitcoins would be about the same. Trial and error can be a difficult teacher sometimes. I think Slotastic is one of those casinos that hopes by delaying you'll lose your remaining balance waiting on your withdrawal to get approved then cancel your request just so you can play some more. They were at least partially correct. I did get tired of waiting and I did lose the rest of what I had won in my account but I'm not about to reverse my withdrawal again. Nope, not again. Needless to say when I do get my money from Slotastic I'll be looking for somewhere's else to play. Maybe I'll try Casino Extreme next time and hopefully I'll get lucky enough to check out their withdrawal procedures also."
  • Photo
    Imgpsh fullsize

    Shadow Bet Casino

    / 13 votes
  • Photo
    Imgpsh fullsize

    Wink Slots

    / 2 votes
  • Panda kiss
    "Fair enough teri010. That's what great about freedom of choice, we always have the option to take the or leave them;)"
  • Index
    " kerch123 wrote: what would be a safe   bitcoin casino for usa peopel Checkout casinoextreme It's RTG Deposits take  30 seconds, withdraws take 1-5 minutes (you just have to contact support in live chat after you request it in cashier)    "
Swipe left or right to see more

lcb activities in the last 24 hours

  • 33
    new members
  • 600
    members online
  • 17952
    guests online
  • 152
    new posts
  • 16128
    free games played
Join the club

Highest Community Rated Online Casinos

Swipe left or right to see more

Latest forum posts

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language
Search Results