Issuing a corporate update, FTSE listed gambling technology provider Sportech Plc has confirmed that its plea relating to its ongoing £97 million VAT repayment was heard by the UK Court of Appeal last Friday.
Sportech governance aims to overturn its September 2014 VAT ruling on its ‘Spot the Ball’ competition, which sided with UK HM Revenue & Customs (HMRC) regarding the over payment of VAT over a 27 year period.
The company has been challenging HMRC in court since 2009, having looked for a repayment of £40 million on VAT overpayments on its ‘Spot the Ball’ competitions between 1979 to 1996.
The appeal court had at first ruled in favour of Sportech Plc, claiming that the company was owed circa £95 million due to interest charges gained on its initial VAT claim. However, following a counter appeal by HMRC lodged with the upper tribunal in September 2014, Sportech’s VAT claim was reversed and the operator was compelled to return the money, although it was still able to appeal the decision.
The Claim was originally scheduled to be heard in November 2015, but the hearing was delayed due to a lack of judicial availability. Issuing a short statement this morning, Sportech governance said it expects a to hear the court’s decision within the next three months.