LONDON (Alliance News) - Gaming company Sportech PLC on Monday said the appeal case relating to its GBP97.0 million VAT repayment claim on the 'Spot the Ball' game was heard by the UK Court of Appeal on Friday.
Sportech had in 2009 asked HM Revenue & Customs to repay more than GBP40 million in VAT that the company claimed it had overpaid on its Spot the Ball game between 1979 and 1996, and later took the case to a tribunal which initially found in its favour and said it was owed GBP95.0 million including simple interest.
However, HMRC, which had paid the company GBP93.0 million, then successfully appealed with an upper tribunal in September 2014, and the company was required to repay the money to the tax man. Sportech then sought leave to appeal to the UK's Court of Appeal, which was granted in January 2015. The hearing was originally scheduled to be heard in November 2015, but was delayed due to a "lack of judicial availability".
On Monday, Sportech said it expects a to hear the court's decision within three months.
Shares in Sportech were untraded on Monday, last quoted at 66.75 pence.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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