Sportech Claims Heard at the First Tier Tax Tribunal

Sportech plc, the UK listed gambling group, has issued a public statement advising that its Value Added Tax claim against the British tax authorities in respect of Spot the Ball, has been heard Monday 8 October and closed Wednesday 10 October 2012 at the First Tier Tax Tribunal. Sportech has been advised that it should expect to be notified of the Tribunal's decision by the end of January 2013. The VAT claim is for a repayment of VAT in excess of GBP40 million, which could exceed GBP80 million with simple interest applied, and it dates back to 2010, when Sportech's application for repayment of erroneously levied VAT was rejected by HM Revenue and Customs. According to Sportech claim, Spot the Ball is a game of chance in which punters try to place the ball missing from a football action photo, therefore should not be subject to VAT. The support of the claim that the tax from a 17-year period between 1979 and 1996 was paid in error, could result in HM Revenue and Customs repaying the VAT plus simple interest.