A Little Light
With the recent economic effect in Casinos, with closures, redundancies and cut backs, the future looks bleaker and bleaker. Just take a look at any gaming shares or related shares. Grosvenor however had a tiny bit of luck today. They had appealed via a Duties tribunal over a Gaming Machine Tax and the inconsistency with European Rules. They had been declaring a VAT for some machines that were exempt from VAT since 2003. They appealed for the over payment in 2005 and today were appeased a sum of upto £25,000,000. The second stage of litigation will take place later this year. This may not just be Grosvenors/Rank, others may be going down the same route if Ranks claims are successful.
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wouldn’t £25mill look nice in a cheque from the VAT office