Tuesday, March 27, 2018

Ladbrokes Loses £71 Million Tax Case

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Ladbrokes Loses £71 Million Tax Case
Ladbrokes Loses £71 Million Tax Case

Ladbrokes betting group has had quite a dispute with HMRC UK tax authorities – in 2008, Ladbrokes and Deloitte (their accountant firm) deployed a corporate tax scheme by using a loophole that was shut down by the UK government later on, after it was used by numerous other organizations.

The company handed in an appeal over the £71 million ($100 million) tax case that was just rejected by the Court of Appeal. This was its third attempt at winning a rebate and it seems their decade-long battle has come to an end.

The case was with UK Tribunal Court last year already and it was rejected then, which is when Ladbrokes appealed. At first, when HMRC warned the brand that the company has failed to pay taxes, the betting group accepted to pay it. However, soon after they attempted to get the money back. They were permitted to take their case to the Court of Appeal who found that “UK tax rules prevented Ladbrokes' attempt at tax advantage.”

HMRC spokesperson commented: “We are pleased that the Court of Appeal supports HMRC’s view that Ladbrokes were attempting to avoid corporation tax. Avoidance schemes like this just don’t work and HMRC will always take firm action against them. HMRC wins nine out ten avoidance cases we take to court.”

Ladbrokes representative also weighed in, saying: “We note the court ruling. This was a case regarding taxes already paid and accounted for, so while the case may have been given against us, it has no bearing on our numbers.”

Source:

“Ladbrokes fails to recoup £71m from HMRC as court rejects rebate claim in long-running tax spat”, Rogers Alexandra, cityam.com, March 22, 2018.

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