Punchestown Racecourse´s recovery attempts were dealt a big blow as it emerged that the track faces a potential VAT liability of E750,000.

It is unclear whether or not Punchestown´s financial advisers voluntarily disclosed details to the Revenue Commissioners, but if it didn´t disclose the details, interest and penalties could be added to the final bill.

Last season´s attempts to save the course resulted in E2.5 million being pumped into the course from Horse Racing Ireland, with the Kildare Hunt Club on course for a E150,000 trading profit at the end of this year.

The tax bill is expected to delay the track´s recovery bid after a successful Summer which saw the venue attract many large concerts.