Rank Group has said that the UK tax authority has decided not to appeal a decision by the First-Tier Tax Tribunal in favour of the company on a refunding claim over VAT paid on slot-machine income.
The UK gambling company said the tribunal has granted a 60-day extension to allow HM Revenue and Customs and Rank to reach an agreement on the exact amount of the claim. Rank said it still expects the claim to be around 80 million pounds.
The move from HM Revenue and Customs follows a June 30 decision by the First-Tier Tax Tribunal, which ruled in Rank’s favour on its claim to be refunded VAT paid on slot-machine income in the period from April 2006 to January 2013.
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