Rank Group

UK Betting industry enjoys £1 billion tax rebate

UK Betting industry enjoys £1 billion tax rebate

The news that the United Kingdom’s betting companies will get a hefty tax rebate of £1 billion (US$1.22 billion) was welcomed by the industry with a great enthusiasm and zeal, helping stocks valuat

Rank Group to request the repayment of £25.9m in overpaid tax

British gambling operator Rank Group announced that it would request the repayment of £25.9 million of overpaid tax it paid on gaming machines between 2002 and 2005.

The announcement came after the bingo operator won the long-running legal battle against the taxman. 

A tribunal ruled in favor of Rank group on Tuesday, saying HM Revenue & Customs must refund £25.9 million it collected from the Rank Group.