Scotland business

Goals Soccer Centres wins tax ruling appeal

Man playing football
Image caption Goals runs more than 40 outdoor centres in the UK and one in the US

Five-a-side football firm Goals Soccer Centres is set for a financial windfall after winning an appeal against a tax ruling by HMRC.

Last year tax officials ruled league block bookings were not exempt from VAT - a move which hiked Goals' tax bill.

The East Kilbride company lodged an appeal, and has now informed the stock market that it had won its case.

Goals said it now expected to increase pre-tax profits by at least £500,000 in the current year and beyond.

Last month, shareholders failed to back a takeover of Goals by one of Canada's biggest pension funds.

The Goals board had accepted a £73.1m bid from the Ontario Teachers' Pension Plan.

But a vote by independent shareholders failed to muster enough votes to clear the offer.

A total of 71.4% of votes cast backed the move - short of the 75% required.

Goals, which employs about 800 people, made a pre-tax profit of £9.2m in 2011.

It currently operates 43 outdoor centres in the UK and one in the US.

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