13 Oct 2014 07:00
13 October 2014
Sportech PLC ("Sportech")
Update - VAT repayment claim
Sportech announces that it has lodged an application for permission from the Upper Tribunal (Tax and Chancery Chamber) to appeal to the Court of Appeal in relation to the VAT repayment claim on the "Spot the Ball" game.
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For further information, please contact:
Sportech PLC 020 7268 2400
Ian R Penrose, Chief Executive
Cliff Baty, Chief Financial Officer
Investec Bank Ltd 020 7597 5970
Patrick Robb
Henry Reast
Peel Hunt LLP 020 7418 8900
Dan Webster
Richard Brown
Brunswick Group LLP 020 7404 5959
Mike Smith and Tom Williams
sportech@brunswickgroup.com
Notes
The Claim, which was first submitted in 2009, was heard by the First-tier Tribunal's Tax Chamber ("FTT") in October 2012. In March 2013, it was announced that the FTT had found in Sportech's favour. Following the FTT's rejection of HMRC's subsequent application for leave to appeal to the Upper Tribunal (Tax and Chancery Chamber) ("UT"), HMRC applied directly to the UT which granted such permission. The Claim was heard by the UT in April and May of 2014 and it was announced last month that the Upper Tribunal had ruled in HMRC's favour.