London-listed gaming operator William Hill may recover as much as £150m from HM Revenue and Customs (HMRC) after the UK tax authority confirmed that it will not seek to appeal a tribunal ruling on the application of value-added tax (VAT) on gaming machines.
The Upper Tier Tribunal ruling dismissed HMRC’s appeal of an earlier ruling in favour of Rank Group and Betfred owner Done Brothers, who had argued that HMRC had incorrectly applied VAT on revenue [...]
