Shares in UK-listed gaming operator Sportech gained more than 7 per cent in London on Friday after the independent First-tier Tax Tribunal refused permission for Her Majesty's Revenue & Customs to appeal a decision relating to the company’s four-year battle with the UK tax authority.

The dispute dates back to April 2009 when Sportech submitted a claim to Her Majesty’s Revenue and Customs (HMRC) for the repayment of more than £40m in overpaid value-added tax (VAT)...

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