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.
Kristen Munoz
6 years ago
Jr. Member
whoa thats a big loss and i dont think they ever thought that they would take such a loss. should have just been doing things in order i guess woulkd be lesson learned , there is alwayts room for some minor loss however this would be one to take them under. its too bad maybe they will find some way to recover and jujst...
whoa thats a big loss and i dont think they ever thought that they would take such a loss. should have just been doing things in order i guess woulkd be lesson learned , there is alwayts room for some minor loss however this would be one to take them under. its too bad maybe they will find some way to recover and jujst do things the right way
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Tweeksta
6 years ago
Super Hero
wow!! that is a massive loss but with the profit they make im sure they will make that back in no time..
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jade
6 years ago
Super Hero
Great story Andrej! Short and to the point, but what does HMRC stand for? Ladbrokes, come on now, let it go.......... I know it is difficult to give that kind of $$$ up, but you knew who you were dealing with when you got into bed with those guys. The funniest part of this is that you actually thought you could win...
Great story Andrej! Short and to the point, but what does HMRC stand for? Ladbrokes, come on now, let it go.......... I know it is difficult to give that kind of $$$ up, but you knew who you were dealing with when you got into bed with those guys. The funniest part of this is that you actually thought you could win and get the money back! Tax money, right! I agree with ya blue, ha, ha, ha, ha............
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bIue day
6 years ago
Newbie
Game On! hahahahhahaa
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Sydney
6 years ago
Almighty Member
Yes, this is a large sum of money, but considering the fact that Ladbrokes has an approximate revenue of more than $2.1 billion, I think they can cope with it. If all of us have to pay taxes, there's no excuse for them to avoid it.
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Mojo Jojo
6 years ago
Super Hero
$100 million dollars is a lot of money, personally I do not know what to think about this case, I know the goverment want taxes for and from everything, they are just like parasites, of course they spent those money on useful things but I believe they also have a hidden agenda and use those money for something that most...
$100 million dollars is a lot of money, personally I do not know what to think about this case, I know the goverment want taxes for and from everything, they are just like parasites, of course they spent those money on useful things but I believe they also have a hidden agenda and use those money for something that most of us would not approve. Anyhow, have you noticed that Skrill and Neteller deposit methodes are removed from several casinos in last couple of months or they even excluded from bonuses. Thrills casino, SuperLenny etc have already removed these deposit methodes from their casino which has a negative effect of my loyalty to the casinos. By removing e-wallet deposit methodes from their casinos leaves us no other choice than to use online banking and it could be and will be monitored by the goverment and therefore you have to pay taxes for it. Casinos without Skrill or Neteller deposit methode will never see me playing there.
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