8th of March 2013 Author: Glo Wood
The UK online gambling group Sportech plc has won its First-tier Tribunal Tax Chamber action against Her Majesty's Revenue and Customs Department (HMRC) seeking repayment of more than GBP 40 million in Value Added Tax, plus interest which could boost the reimbursement to over GBP 80 million.
It has been specified that First-tier Tribunal's Tax Chamber (HMRC) can appeal this decision until 30 April 2013. So far, it has not yet revealed whether it will do so.
According to a Sportech spokesperson, "As a consequence of this ruling, Sportech will now enter into discussions with HMRC to agree the quantum of the claim.
'It is anticipated that the sum to be repaid to Sportech will be in excess of GBP 40 million in respect of overpaid VAT plus simple interest, which is expected to more than double the total sum receivable to more than GBP 80 million.'
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