Rank set for £80m tax win after Revenue backs down
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Rank Group believes that it is in line for an £80 million tax refund over VAT paid on slot machine income after HM Revenue & Customs decided not to appeal against an earlier tribunal judgment.
The owner of Mecca Bingo and Grosvenor Casinos said that the first-tier tax tribunal had agreed to a 60-day extension to allow negotiations with the tax authority over the extent of the refund it is owed for tax paid on the machines between April 2006 and January 2013.
In June, judges ruled that gambling and betting companies ought not to have paid VAT on a wide range of slot machines over this period because they were similar to VAT-exempt gambling devices, such as casino roulette wheels. Rank said yesterday that
