Rank Loses Appeal Against HMRC

The Rank Group Plc lost its Supreme Court appeal with Her Majesty’s Revenue & Customs (HMRC) in a case involving overpaid VAT on specific gaming machines between 2001 and 2005.

After a Court of Appeal ruling against Rank in October 2013, the company repaid GBP 25.2 million of the GBP 30.7 million to HMRC with provisions for payment of the remainder.

Despite these provisions, the ruling did not impact the company’s financial performance or balance sheet.

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