TaxCorporate TaxLadbrokes tax flutter rakes in £340m from HMRC

Ladbrokes tax flutter rakes in £340m from HMRC

Betting giant Ladbrokes confirms settlement with the taxman, which is worth more than £340m

Ladbrokes will rake in more than £340m from the taxman after hammering out a
settlement to long-running disputes.

The betting giant
confirmed
the windfall in its interim results to 30 June
.

On 21 April 2010 Ladbrokes said it had reached a settlement with HMRC,
covering substantially all outstanding items in respect of tax years through to
31 December 2007.

“The settlement resulted in the recognition in the 2010 income statement,
within the tax charge, of a £261.9m tax credit in relation to prior years,”
Ladbrokes said today.

“Additionally the group received cash of £80m in respect of corporation tax
repayable from HMRC.”

Further reading:

HMRC
reaches settlement with EDS

Related Articles

‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

3m Emma Smith, Managing Editor
OTS report: Corporation tax should follow accounts

Corporate Tax OTS report: Corporation tax should follow accounts

5m Alia Shoaib, Reporter
HMRC tax evasion assistance requests double in five years

Corporate Tax HMRC tax evasion assistance requests double in five years

5m Emma Smith, Managing Editor
Spring Budget 2017: Making Tax Digital

Business Regulation Spring Budget 2017: Making Tax Digital

9m Shereen Ali, Deputy Editor
Tax fraud loses HMRC £16bn

Corporate Tax Tax fraud loses HMRC £16bn

10m Emma Smith, Managing Editor
HMRC nets £2.6bn in corporate tax from big businesses

Corporate Tax HMRC nets £2.6bn in corporate tax from big businesses

11m Accountancy Age editorial
Tax crackdown brings in £468m for HMRC

Corporate Tax Tax crackdown brings in £468m for HMRC

11m Accountancy Age editorial
Treasury Select Committee report released on Making Tax Digital

Accounting Standards Treasury Select Committee report released on Making Tax Digital

11m Stephanie Wix, Writer