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Sportech Given GBP93 million VAT Refund
Friday June 27,2014 : BIG V.A.T. PAY-OUT FOR SPORTECH
But litigation with the UK taxman is not done yet.
The long legal battle between online and land gambling group Sportech plc and Her Majesty's Revenue and Customs over the refund of decade's old value added taxes in respect of the company's Spot The Ball game saw fresh developments this week when Sportech advised shareholders that it had received GBP93 million as a refund from HMRC.
But before the champagne corks could pop the company reminded its investors that HMRC has appealed against its latest legal victory, and if successful the taxman would be claiming the money back.
The case of over-taxation has its roots in VAT payments between 1979 and 1996.