Sportech VAT appeal delayed
Hearing on ruling to repay a £93m VAT refund pushed back because of "lack of judicial availability"
Sportech’s multi-million pound dispute with Her Majesty’s Revenue and Customs (HMRC) over a £93m VAT refund has been prolonged after an appeal hearing due to begin this week was delayed.
In a statement, Sportech said it had been advised that its appeal to the Court of Appeal had been pushed back due to a “lack of judicial availability”.
The firm added that the Court of Appeal would schedule a new hearing date and that it would inform shareholders accordingly.
The hearing will address Sportech’s appeal against a ruling last year that it must return £93m it had previously re-claimed in overpaid VAT related to the ‘Spot the Ball’ competition operated by its subsidiary Littlewoods between 1979 and 1996.
The firm won the right to appeal against the ruling in January, having previously pledged to fight the decision which had wiped off its share price when announced.
Sportech was initially awarded the £93m in June last year following a long-running case against the UK tax-authority dating back to 2010.