The UK’s leading multi-redemption voucher and prepaid gift card business

HMRC Settlement

16 August 2010

Park Group plc has received an amount of £1,891,242 from HMRC in setttlement of a 'Fleming' claim in respect of an over declaration of output tax arising from the VAT accounting treatment of commissions paid to agents.  The claim covered the period 1978 to 1996.

In addtion Park expects to receive a further amount in respect of statutory interest due in respect of this claim, estimated in the region of £2.5m.

It is expected that there will be professional costs payable in respect of this claim in the region of £0.35m.

For further information please contact:

Park Group PlcArden PartnersTravistock Communications
Peter Johnson/Chris HougthonFred Walsh/Jamie CameronJohn West/Andrew Dunn
Tel: 0151 653 1700Tel: 020 7614 5928Tel: 020 7920 3150