Long-running tax dispute with HMRC is now closed after Supreme Court refuses permission to appeal, saying Bolt’s ‘application does not raise an arguable point of law of general public importance which the Supreme Court ought to hear at this time’.

The Bolt Services UK Limited v HMRC case centred on whether mobile ride-hailing services fall within the scope of the tour operators’ margin scheme (TOMS), a simplified accounting scheme for tour operators and travel agents that buy in and sell on travel services such as passenger transport and hotel accommodation, as set out in the Value Added Tax Act 1994 (VATA).

In terms of the disputed VAT, the annual accounts for Bolt for financial year end 31 December 2024, filed last September, reported VAT debtors of £84.6m related to ‘tax deposits paid to HMRC for an ongoing VAT dispute’. It also stated a £37m VAT credit for FY22 ‘as a result of the positive [tribunal] ruling, the company recognised turnover net of VAT based on TOMS rather than gross basis’.

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