Sportech launch claim for £40m VAT repayment
Category: Betting, Bookmakers, Casino, Football, Horse Racing, Ladbrokes, Sport // No Comments
The company that took over running and rebranding of the Football Pools, Sportech PLC yesterday launched a claim with the UK Customs Office (HMRC) for overpaid VAT (Value Added Tax) payments in relation to the “Spot The Ball†game which was ran from 1979 through to 1996.
The claim is in the region of £40 million but could be higher, if successful the amount would be paid back to Sportech PLC by HMRC along with interest. Sportech are claiming that the VAT was paid in error and is therefore repayable.
The process will not be immediate and if successful in their claim it could take Sportech PLC several years to get the money refunded from HMRC.
