Spot the Ball VAT claim to be heard in April
Sportech looks to benefit, even if it loses VAT appeal
THE TAX-MAN’s ‘Spot the Ball’ VAT appeal will be heard at the beginning of April.
Sportech, the listed leisure business that owns the Spot the Ball brand, said in its interim management statement that the Upper Tribunal VAT appeal would be heard on 29 and 30 April 2014.
HMRC won leave to appeal in June against Sportech’s £95m VAT reclaim success in the First Tier Tribunal (FTT).
“The group continues to explore options available to secure financial benefit in the event of the favourable decision of the FTT being ultimately reversed,” Sportech said in its statement.
The long-running battle is over VAT applied to Spot the Ball between 1979 and 1996. The VAT overpayment is calculated at £40m, with simple interest doubling the total.