Tag Archives: HMRC

Rank Group Plc has reached an agreement with HMRC in relation to its outstanding VAT refund claim on slot machine income.  Providing a market update, Rank disclosed that HMRC has agreed to issue a refund of £77.5 million paid machine duties paid from April 2006 to January 2013. In April 2020, an Upper Tribunal judgement voted in favour of Rank …

HMRC has accepted a policy proposal that will expand the tax bands on gross gaming yield (GGY) applied to land-based casino earnings.  New tax bands will be applied from 1 April 2022, as HMRC aims to maintain casino operator duties at real levels of inflation. Applied since 1997 and last amended during 2021, HMRC currently applies a staggered 15-to-50% tax …

Rank Group Plc has been granted a 60-day extension by the First-tier Tribunal Tax Chamber (FTT) to resolve its settlement on incorrect gaming machine duties charged between 2005 and 2013 with HMRC.  The LSE gambling group is guaranteed a tax rebate as HMRC can no longer challenge its appeal previously rejected by an Upper Tribunal review – which serves as …

Betfred Limited has filed its 2020 corporate accounts (period reported up to 27 September), disclosing the impact of last year’s COVID-19 pandemic on its business units.  The Done family-owned betting group saw its group wagers shrink from £10-to-£6.5 billion,  a result of the enforced closure of its UK betting estates and further COVID-19 adjustments.   Trading with an impaired retail unit, …

HM Revenue and Customs (HMRC) has announced that gambling revenue for the 2020/2021 financial year fell below expectations, largely due to the economic impact of national lockdowns. Total tax receipts registered from April 2020 to March 2021 totalled £2.83 billion – a drop of £182 million or 6% when compared to 2019/2020 fiscal duties – attributed to COVID-19 lockdowns enforcing …

William Hill has followed counterparts Betfred and Rank Group Plc in issuing an HMRC claim on compensation owed from tax charges related to fixed-odds betting terminals (FOBTs).  The FTSE bookmaker could stand to secure a multi-million £ tax rebate on FOBT charges issued between 2005 and 2013. William Hill’s HMRC rebate stands from an April High Court ruling that favoured …

UK bookmakers could secure compensation for previous tax charges made against gambling machines, after HM Revenue & Customs (HMRC) lost its long-standing dispute against Rank Group and Betfred. Last Friday, an Upper Tribunal led by Justice Anthony Mann and Judge Thomas Scott ruled in favour of the betting firms who had long disputed HMRC’s classification of VAT charges on Fixed …