Pools and sports betting operator Sportech has lodged an application for permission from the Upper Tribunal (Tax and Chancery Chamber) to appeal to the Court of Appeal over a VAT repayment claim on the ‘Spot the Ball’ game.
Last month, iGaming Business reported that Sportech had been ordered to repay £93 million (€117.4 million/$149.2 million) after the Upper Tribunal (Tax and Chancery Chamber) ruled in favour of an appeal lodged by Her Majesty’s Revenue & Customs (HMRC).
The decision came after the First-Tier Tribunal last year ruled in favour of Sportech and the operator received a payment of £93 million from HMRC in June of this year.
Sportech had been given a deadline of October 15 to seek permission to appeal against the latest decision.
If Sportech is not given permission to appeal or the appeal is rejected, it will have to repay the full £93 million to HMRC in due course and its gain recognised in the 2014 interim financial statement will be reversed as a result.
source : www.igamingbusiness.com