SBI Sourcebio International Plc

By Sabela Ojea

SourceBio International PLC said Wednesday that it has resolved its dispute with the U.K.'s tax office on treating the accounting for Covid-19 PCR services as value-added tax exempt.

The U.K. provider of laboratory services said it has received written confirmation from the U.K.'s HM Revenue & Customs on the acceptance of SourceBio's VAT position.

In December 2021, the U.K.'s tax office issued a letter that challenged the group's VAT treatment of PCR testing services provided.

"HMRC suggested that some of those services should have been treated as standard rated for VAT purposes," SourceBio said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

September 21, 2022 03:29 ET (07:29 GMT)

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