£80m VAT Appeal Refused by HMRC

£80m VAT Appeal Refused by HMRC

HMRC Rejected Sportech’s £80million VAT Appeal

HMRC has recently been refused the leave it needed to appeal in the on-going £80m VAT battle. The battle is currently going against the owners of Spot-the-Ball, Sportech.

Sportech is a listed gaming business that recently told the Stock Exchange that Her Majesty’s Revenue and Customs’ bid to have its on-going VAT case heard in a new Upper Tribunal has been rejected. The case was reportedly rejected by the First Tier Tribunal, and it’s possible that no further action can now be taken.

By the 1st July, HMRC will be required to apply to the Upper Tribunal if they still wish to appeal against the decision of the first-tier tribunal.

Spot The Ball’s $40million VAT Overpayment

This on-going battle goes all the way back to the 1970s, when Spot the Ball has a VAT overpayment estimated to be at around $40million. The interest has since doubled this total.

In recent weeks, Sportech has restructured the business and is still unsure as to what action is going to be officially taken.

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