Tribunal rules in favour of Sportech

Shares in Sportech rose by a fifth on Friday after a tribunal found in its favour on a VAT-related dispute relating to its 'Spot the Ball' game for the period 1979-1996.

Shares in Sportech rose by a fifth on Friday after a tribunal found in its favour on a VAT-related dispute relating to its 'Spot the Ball' game for the period 1979-1996.

The decision by the First-tier Tribunal's Tax Chamber means that the group is set to receive more than £40m in overpaid tax in addition to simple interest which is expected to more than double the total sum receivable to more than £80m.

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"The group will update shareholders as soon as it is advised of HMRC's intentions," it said, adding that it will "continue to take appropriate legal and professional advice on the group's position, and advise shareholders accordingly of the proposed course of action in the event that HMRC decides to appeal".

The share price rose 21.21% to 110p by 10:42.




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