23rd May 2018 15:31
LONDON (Alliance News) - Best of the Best PLC, the organiser of competitions to win cars and other products, said Wednesday that the UK tax department has refunded GBP4.5 million in overpaid value added tax in full, following the company's appeal for the repayment.
Shares in Best of the Best were trading 15% higher at 280.00 pence each in afternoon trade.
The company, however, added that it still needs to determine the positive contribution of the GBP4.5 million VAT repayment, as costs relating to the tax reclaim remain outstanding and the UK tax ministry considers the company liable to pay retrospective Remote Gaming Duty for a period of four years.
Best of the Best has sought legal and tax advice on the retrospective Remote Gaming Duty issue and is contesting the tax claim.
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