Save content
Have you found this content useful? Use the button above to save it to your profile.
AIA

HMRC starts gambling tax registration service

by
19th Sep 2014
Save content
Have you found this content useful? Use the button above to save it to your profile.

A new betting tax which has the potential to raise £300m, is due to start in December, despite the threat of a legal challenge from gambling companies.

In August, the Gibraltar Betting and Gaming Association(GBGA) claimed in a submission to the High Court of England and Wales that the new tax rules on gaming were “unlawful and disproportionate” and interfered with the “right to free movement of services” under European Union law.

Under the new tax companies will be taxed where the bet is made by the better rather than where the company itself is based.

Now betting companies which are based offshore don’t pay gambling taxes, saving them millions of pounds.

The new rules will affect offshore companies which supply betting and gaming to UK consumers from outside the UK and also UK high street betting shops.

HMRC has started an online service to help business prepare for the new tax rules, including registering a betting supplier and submitting tax returns.

Tags:

Replies (0)

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.