New Posts For Thread: UK tax rate on gamblinghttps://community.betfair.com/general_betting/go/thread/view/94082/23535810/uk-tax-rate-on-gamblingCurrently the tax rate is 0% if I'm correct? Just interested in what it used to be before the change in the law back in 2001, if anyone knows? Does anyone think/fear that with a potential change in political power in the next couple of months that wegibraltar still has a 8% tax rate on bookmakers, supposed to be a part of the ukhttps://community.betfair.com/general_betting/go/thread/view/94082/23535810/uk-tax-rate-on-gambling?post_id=420932634#420932634gibraltar still has a 8% tax rate on bookmakers, supposed to be a part of the ukThu, 01 Apr 2010 18:19:21 -0500I would not be surprised if they tax all three aspects:betting tax on each bettax on bookmakers gross profits plus all the other taxesadditional tax on annual betting profits with zero relief on losses, as in USA.https://community.betfair.com/general_betting/go/thread/view/94082/23535810/uk-tax-rate-on-gambling?post_id=420932626#420932626I would not be surprised if they tax all three aspects:betting tax on each bettax on bookmakers gross profits plus all the other taxesadditional tax on annual betting profits with zero relief on losses, as in USA.Thu, 01 Apr 2010 18:06:56 -0500I didnt see Triggster post....maybe they increase that rate of tax, then the bookies will pass it on to their customers as explain above.https://community.betfair.com/general_betting/go/thread/view/94082/23535810/uk-tax-rate-on-gambling?post_id=420932618#420932618I didnt see Triggster post....maybe they increase that rate of tax, then the bookies will pass it on to their customers as explain above.Thu, 01 Apr 2010 16:44:02 -0500If they were gonna do it they will tax profits on bookies..and the bookies pass it on by putting commission on your stake or winnings like betfair.https://community.betfair.com/general_betting/go/thread/view/94082/23535810/uk-tax-rate-on-gambling?post_id=420932614#420932614If they were gonna do it they will tax profits on bookies..and the bookies pass it on by putting commission on your stake or winnings like betfair.Thu, 01 Apr 2010 16:41:15 -0500The tax on betting was removed with great foresightIt avoided 200+post threads with Schalke 04 insisting that it is better to pay the tax on your winnings than on your stake.https://community.betfair.com/general_betting/go/thread/view/94082/23535810/uk-tax-rate-on-gambling?post_id=420932610#420932610The tax on betting was removed with great foresightIt avoided 200+post threads with Schalke 04 insisting that it is better to pay the tax on your winnings than on your stake.Thu, 01 Apr 2010 16:07:06 -0500Taxation on gambling profits will never happen....ever.https://community.betfair.com/general_betting/go/thread/view/94082/23535810/uk-tax-rate-on-gambling?post_id=420932606#420932606Taxation on gambling profits will never happen....ever.Thu, 01 Apr 2010 15:08:38 -0500taxation on gaming revenue is 50%https://community.betfair.com/general_betting/go/thread/view/94082/23535810/uk-tax-rate-on-gambling?post_id=420932582#420932582taxation on gaming revenue is 50%Thu, 01 Apr 2010 13:34:02 -0500Sorry, yes I understand now.https://community.betfair.com/general_betting/go/thread/view/94082/23535810/uk-tax-rate-on-gambling?post_id=420932578#420932578Sorry, yes I understand now.Thu, 01 Apr 2010 13:11:36 -0500There was never a tax on gambling profits. The 9% was betting duty. This was abolished with a replacement taxation on the bookmakers profits. They argued higher turnover would result in higher profits and the taxation taken by the government wouldn'thttps://community.betfair.com/general_betting/go/thread/view/94082/23535810/uk-tax-rate-on-gambling?post_id=420932566#420932566There was never a tax on gambling profits. The 9% was betting duty. This was abolished with a replacement taxation on the bookmakers profits. They argued higher turnover would result in higher profits and the taxation taken by the government wouldn'tThu, 01 Apr 2010 12:59:26 -0500I believe that the government's tax revenue from gambling actually increased when they switched to a gross profits tax. I believe that the 9% was levied either on your stake, or on your returns (not your winnings). The reason I say that is that IIRChttps://community.betfair.com/general_betting/go/thread/view/94082/23535810/uk-tax-rate-on-gambling?post_id=420932562#420932562I believe that the government's tax revenue from gambling actually increased when they switched to a gross profits tax. I believe that the 9% was levied either on your stake, or on your returns (not your winnings). The reason I say that is that IIRCThu, 01 Apr 2010 12:51:37 -0500