2nd May 2014 15:41
LONDON (Alliance News) - Online gambling and sports-entertainment company Sportech PLC Friday said the appeal of its GBP95 million VAT repayment claim in the UK was heard by the Upper Tribunal on Tuesday, Wednesday and Friday this week.
At the time of the release of the group's 2013 earnings in March, Chief Executive Officer Ian Penrose told Alliance News he was confident that the outcome of the GBP95 million tax claim would be in Sportech's favour.
The VAT repayment claim, in respect of the "Spot the Ball" game, was successfully determined in the group's favour by the First-Tier Tax Tribunal in March last year, but UK tax authority HMRC is appealing the decision to the Upper Tribunal.
In a statement Friday, the group said it has been advised to expect a decision from the Upper Tribunal in the summer.
Sportech shares closed 0.3% lower Friday at 85.00 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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