GVC Holdings to seek VAT rebate of up to £200m21st May 2020 10:23 am GMT
London-listed gaming operator GVC Holdings has added its name to the list of gaming companies seeking a refund from UK tax authority HMRC in relation to incorrectly charged value-added tax (VAT).
GVC said Thursday that it could benefit from a refund of approximately £200m of historic VAT incorrectly paid on gaming machines revenue at its Ladbrokes betting shops between 1 October 2002 to 31 January 2013.
The announcement follows Wednesday’s news that William Hill will be seeking a refund of up to £150m from HMRC, after the tax authority ended its legal challenge to a precedent setting ruling in favour of gaming companies Rank Group and Done Brothers.
Shares in GVC Holdings plc. (LSE:GVC) were trading marginally higher at 813.67 pence per share in London Thursday morning.