Saturday May 3,2014 : SPORTECH AWAITS TAX RULING
Government appeal in respect of GBP 95 million VAT case has now been heard.
UK gambling group Sportech will have to wait until summer for the latest, and hopefully final, decision on its long-running tax dispute with Her Majesty's Revenue and Customs following the completion of appeal hearings on the GBP 95 million case this week.
The Value Added Tax issue based on Sportech's "Spot the Ball" game was heard on appeal by the Upper Tax Tribunal after HMRC was granted permission to appeal against the decision of the First Tier Tax Tribunal.
The claim, for approximately GBP 95 million including simple interest, was successfully determined in the Sportech's favour by the FTT in March 2013. Sportech Management has advised that the claim has not been recognised in the Group's latest financial statements.
The decision of the Upper Tribunal is expected later this summer.