Mecca Bingo won the high court ruling on VAT Reclaim

Written by: Nikola Zugic on 11/06/2009 22:00
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As we all know, the bingo operators in the UK have been on a fight against high bingo taxes. After they have been hit hardly with the smoking ban and the credit crunch, the government has removed the VAT but doubled the taxes. For a few weeks now the battle continues between the big bingo operators and the government regarding the bingo taxes. The bingo operators have been appealing to the government to lower the taxes because if not, it could probably be the end of the high street bingo in the UK.

And so now, the big bingo operators such as Mecca Bingo have been appealing to the government to have the VAT returned to their company. The result of their appeal was a success. They have won the high court ruling to have their VAT returned to them. While this is certainly good news for Mecca Bingo, this will have a high impact on the rest of the bingo operators in the UK. Mecca Bingo isn’t the only company looking to reclaim their VAT. There are a lot of other companies who are facing a difficult position as of the moment. The likes of Buckingham Bingo, Gala bingo, and Top Ten Bingo are all in heavy debts with various banks. And the only thing they are trying to do right now is to reclaim VAT. This will help them to stall the banks in claiming debts that these bingo operators owe. But because these bingo companies are recently winning their VAT reclaim, the banks are asking that they be paid straight back. This will help avoid the debt deficit. But the big problem is that the tax rules have already changed. This will mean that the banks would face harder trading conditions. And that means that in the future, they might actually refuse lending online bingo companies.

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