RE: Reuters26 Jun 2014 15:05
I'm no expert but I think;
1. Sportech were charged VAT at the incorrect rate over many years (on the Football Pools business).
2. Following the First Tier ruling, HMRC have paid back £93 million.
3. The outstanding £3 million will be paid if the Higher Tribunal rule in favour of Sportech.
4. If the HT rules that the VAT charged was in fact correct, Sportech will have to repay the £93 million and carry on as normal.
5. The VAT money hasn't been factored into the books, so revenue forecast will remain extant if the ruling goes against Sportech.
Please feel free to comment / add any info.