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Budget announcement - gambling taxation

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  • ACEGOONERACEGOONER Member Posts: 1,435
    edited March 2012
    In Response to Re: Budget announcement - gambling taxation:
    One of the reasons gambling tax was abolished was because the exchequer was losing out to companies moving offshore. So the worrying thing is, if they force companies that deal with UK players to pay business taxes here anyway, then it will leave the door open for a direct gaming tax on the consumer to return in the future. In fact, it is a strong possibility. 
    Posted by BrownnDog

    Thats not true, the old tax regime where punters had to pay 9p in the pound meant that a lot of uk bookies based their operations overseas. The implications of this was that punters started to place bets with offshore bookies meaning that they could avoid paying betting levies. 

    The gentlemans agreement between the government and the gaming companies was that they would bring their betting operations back to the UK and pay corporation tax. Naturally with the abolition of betting levies there was an explosion in betting in the UK and the bookies made bigger profits, paid more tax, everyone was happy. It was a win win situation.  

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