Rank claims back £26m VAT from the taxman
With two VAT tribunal decisions in favour of the bingo operator, it asks HMRC for a reclaim
Bingo business
Rank will
ask the taxman for £25.9m in overpaid VAT.
The request comes after the latest tribunal decision in a long-running battle
between HM
Revenue & Customs and Rank over VAT paid on its bingo machines
in its venues.
Two rulings currently go against the taxman. In August the tribunal rules
that the UK’s treatment of VAT on amusement machines contravened the EU
principle of fiscal neutrality, and in june a separate ruling found in favour of
Rank’s application relating to VAT on bingo.
Both have been appealed and are due to be heard next April.
Further reading:
HMRC admits that bingo is VAT
exempt