Tricor accepts decision on VAT claim

Tricor updated the market on its ongoing VAT claim on Tuesday, confirming that the board has resolved that it will not appeal the decision of the Upper Tribunal.

The AIM-traded firm said it will also accept liability for the costs incurred by Her Majesty’s Revenue and Customs in relation to the appeal proceedings.

“The company will seek an order from the Tribunal that the quantum of such costs be subject to agreement between the parties, any default of which will be assessed by the court,” the board said in a statement.