Posts tagged "VAT"
Hestview Limited Notes to the financial statements 23. Events after the balance sheet date (continued) Concurrently, on 7 August 2025 the Group entered into Fourth Incremental Assumption Agreement (the “Fourth incremental Assumption Agreement”) further amending its existing Credit Agreement dated November 24, 2023. This amendment pravided for an additional $500 million of Term Loan B borrowings (the “Fourth. Incremental Term 8 Loans”), which: * mature on 4 June 2032; ¢ bear interest, at the Borrower's option, at either (i) Adjusted Term SOFR + 2.00% (subject to a 0. 50% floor) or (ii) ABR + 1.00% (subject to a 1.00% ABR floor); and, * require quarterly amortization of 0.25% of the original principal amount, with the remaining batance due at maturity. The aggregate principal amount available under the revolving credit facility under the Credit Agreement also increased by £50 mittion. The Notes, the Third Incremental Term B Loans and the Fourth Incremental Term B Loans are guaranteed on a-senior secured basis by the Company and other guarantors (together “the Guarantors}, who are also the Guarantors of the existing notes and the credit facilities of the Group as on 31 December 2024. - : N Ouring 2025, as part of a strategic initiative, it was annourg€d the Campany’s sportsbettirm™ would transfer to a newly established fellow Group compagy, SBG Sports (Malta) Limited. Fo will provide support services and licence intellectual propereio fellow Group companies. trading activities will decrease from 2026 onwards. gperations under the Skybet brand owing this transfer, the Company nagement expects the Company's The Directors are not aware of any other matter or circumstance occurring since 31 December 2024 up to the date of these financial statements that has significantly or may significantly affect the operations of the Company, the results. of those nneratiane or the ctatre af affaire af tho Caomnany in cuhcequent financial vears
Nov 18, 2025 Investigations

Betting on tax avoidance – is Sky Bet avoiding £55m tax per year?

ITV News has just broadcast an investigation: gambling company Sky Bet has migrated its business to Malta to avoid around £55m of tax each year. We provided technical support for the investigation, and this report goes into further detail of what precisely Sky Bet has done. Sky Bet provides a vague explanation of why they […]
10. AMF (anonymity orders sought) Claimants - and - CHANCELLOR OF THE EXCHEQUER Defendant - and - THE COMMISSIONERS FOR HM REVENUE AND CUSTOMS Interested Party STATEMENT OF FACTS AND GROUNDS
May 2, 2025 Analysis

The private school VAT challenge: weak arguments, but radical consequences

Last month, parents backed by the Independent Schools Council made a legal challenge against the Government’s decision to charge VAT on private school fees. We’re publishing the grounds of the challenge and our analysis. The challenge is more political than legal – it cites no relevant legal precedents and has very poor prospects of success. […]
map of the world showing that all developed countries except the US have a VAT
Apr 2, 2025 Analysis

No, VAT isn’t a tariff – here’s what Trump (and others) get wrong

Today’s episode of Untaxing is about Jaffa cakes and VAT. With the benefit of hindsight, that’s a very small VAT issue on a day when VAT has become a very large geopolitical issue. Donald Trump is considering applying tariffs to much of the world because of VAT. He believes it’s a tariff. You’ll be unsurprised […]
‘Get the Mail fora WHOLE YEAR FOUR IN 10 T0 OUIT PRIVATE SCHOOL UNDER KEIR’S TAY
Jun 2, 2024 Analysis

How the Independent Schools Council created a misleading headline on VAT

The Independent Schools Council received a survey on parents’ responses to VAT on private school fees. It was statistically meaningless, and the authors of the report say this was clear in the report. The ISC then gave the survey results to the Daily Mail without this vital context, and the result was a highly misleading […]
| Fees Schedule
May 9, 2024 Analysis

Avoiding VAT on school fees – the risks parents and schools are taking

We wrote in January about some of the ways private schools might try to avoid Labour’s proposed 20% VAT on school fees. One approach we mentioned – paying years’ of fees in advance – is now being widely used. We are concerned that schools and parents are not fully understanding the risks that these advance […]
Transparency of Lobbying, Non-Party Campaigning and Trade Union Administration Act 2014
Feb 16, 2024 Analysis

The loophole that enables secret lobbying by foreign companies

Brooks Newmark & Co Ltd, run by former Conservative MP Brooks Newmark, lobbied for foreign PPE suppliers during the pandemic, but didn’t register under the Lobbying Act. It turns out this was entirely legal, thanks to a serious mistake in the drafting of the Act. This has created a loophole which means that lobbyists acting […]
-
Jan 26, 2024 Analysis

How to avoid VAT on private school fees, and how attempts at avoidance could go very expensively wrong

Labour seems set to introduce VAT on private school fees. We thought it would be helpful to set out the ways some private schools might try to avoid VAT, and our assessment of their prospects of success. We’ve identified some approaches which we’ve categorised as “good” (likely to succeed), “bad” (likely to fail) and “ugly” […]
-
Aug 2, 2023 Analysis

Exclusive report: HMRC pursuing Uber for another £386m of VAT

Uber’s latest financial reports, filed yesterday, reveal that HMRC is challenging its VAT position and claiming £386m. Uber is appealing but has had to pay the disputed VAT up-front. Uber historically charged no VAT. It said it was just an app, with its drivers supplying the service to customers. As most drivers‘ income fell below […]
-
Jul 12, 2023 Policy

Why scrapping VAT on sunscreen and public EV charging would be an expensive waste of money

There are currently high-profile campaigns to scrap VAT on sunscreen, and scrap VAT on public electric vehicle (EV) charging. The proposals would waste public money, and fail to achieve their objectives. One of the benefits of leaving the EU is that the UK is no longer bound by EU VAT law, and we can create, […]

Legal and privacy

© 2026 Tax Policy Associates Ltd. A non-profit company limited by guarantee (no. 14053878)

RSS feed