HMRC Settlement

Fleming Claim Treatment of Commissions paid to Agents

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.

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