Tribunal rules in Sportech's favour on Spot the Ball tax claim
(Reuters) - British gambling company Sportech Plc is set to get more than 80 million pounds from Britain's tax authority after a tribunal found that the company had paid more value added tax than it should have on its Spot the Ball game between 1979 and 1996.
As a result of the ruling, Sportech will now begin talks with Her Majesty's Revenue and Customs (HMRC) over the size of the payment.
Sportech said it expects that the sum to be repaid would be over 40 million pounds of overpaid VAT plus simple interest, which would more than double the total sum to over 80 million pounds.
HMRC has until April 30 to appeal the ruling but is yet to confirm whether it intends to do so, Sportech said in a statement.
(Reporting by Abhishek Takle in Bangalore; editing by Gunna Dickson)
- Tweet this
- Share this
- Digg this
- Children's corpses reveal desperate attempts to escape Korean ferry |
- Australia, Malaysia vow to keep searching to solve plane mystery
- Man United act to halt slide as power shifts back to Liverpool
- Search for MH370 reveals a military vulnerability for China
- Ukraine's leaders say have U.S. backing to take on 'aggressors' |