Ladbrokes Bingo Win Tax Settlement
Ladbrokes PLC, the name behind Ladbrokes Bingo have just won a tax settlement to the tune of £80 million pounds……….not pocket change that’s for sure! According to Market Focus, Ladbrokes have been in a long running dispute with the tax man and this refund relates back a number of years up until December 2007.
There was even more good (tax) related new on the horizon for Ladbrokes Bingo as they are also reportedly due to get around £262 million pounds worth of tax credits paid into their account this year.
News of the tax settlement see Ladbrokes shares sky rocket through the roof this week and it puts them in even better (betting) stead. It is not often that you hear about a massive tax dispute like this going in the vendors favour…….so Ladbrokes Bingo must be laughing all the way to the bank at the moment!
With the Grand National race reportedly knocking bookmakers for around £10m this year, due to a favourite (don’t push it) winning the race……….Ladbrokes could have no doubt done with a cash injection boost and they got it, but from a very unusual front indeed, the tax man.
Ladbrokes Bingo however are not the only one fighting for correct (taxation rights). As we know Mecca Bingo have been on a massive VAT taxation reimbursement campaign over the past few years and they set a landmark case by also winning their (VAT) fight when the court of appeal ruled in their favour.
Whichever way we turn we seem to be taxed on everything from the money we earn to the fuel in our cars. And that is without the rest of the kit and kabodle which goes with it, like road tax, insurance tax, flight taxes, clothes tax, food tax, furniture tax, council tax,etc, etc, etc……….in fact you could say people in the UK are nothing but bombarded and restricted with taxation laws.
Why should we have to pay all this (tax) is the key question?………………Oh hang on I forgot, some MP’s need it to so that they can claim even more over-rated expenses for themselves…..from tax payers money I might add!
