New Posts For Thread: VAT and gamblinghttps://community.betfair.com/general_betting/go/thread/view/94082/23869970/vat-and-gamblingHi,Went out tonight and a friend of mine said that the Labour Government were thinking about putting VAT on all winning bets i.e for every winning bet in addition to 5% commission there would be an additional 17.5% taken off our winnings. Of courseSo betfair pay 15% on our 5%? (And prem charges?)https://community.betfair.com/general_betting/go/thread/view/94082/23869970/vat-and-gambling?post_id=430338614#430338614So betfair pay 15% on our 5%? (And prem charges?)Wed, 21 Apr 2010 16:21:41 -0500Here is the way they do it currently. Its called betting duty. Not on profits but on commision etc. When introduced it was meant to gain more revenue than the betting tax after the first few years as the industry grew. So 9 years later, reverting tohttps://community.betfair.com/general_betting/go/thread/view/94082/23869970/vat-and-gambling?post_id=430338610#430338610Here is the way they do it currently. Its called betting duty. Not on profits but on commision etc. When introduced it was meant to gain more revenue than the betting tax after the first few years as the industry grew. So 9 years later, reverting toWed, 21 Apr 2010 13:34:34 -0500cornubia supply is the word you are looking for.I hope that helpshttps://community.betfair.com/general_betting/go/thread/view/94082/23869970/vat-and-gambling?post_id=430338606#430338606cornubia supply is the word you are looking for.I hope that helpsWed, 21 Apr 2010 12:51:07 -0500cornubia 21 Apr 18:18 VAT =Value Added Tax.There is no product or service with a bet so VAT cannot apply.What a load of b0ll0cks.I did not need to get past the first sentence to say that and ask what tax qualifications you might have.https://community.betfair.com/general_betting/go/thread/view/94082/23869970/vat-and-gambling?post_id=430338602#430338602cornubia 21 Apr 18:18 VAT =Value Added Tax.There is no product or service with a bet so VAT cannot apply.What a load of b0ll0cks.I did not need to get past the first sentence to say that and ask what tax qualifications you might have.Wed, 21 Apr 2010 12:49:29 -0500VAT =Value Added Tax.There is no product or service with a bet so VAT cannot apply.Starting a thread from a rumour then backing it up with tabloid newspaper speculation is quite worrying that there are people that credulous around.Was it not New Labohttps://community.betfair.com/general_betting/go/thread/view/94082/23869970/vat-and-gambling?post_id=430338598#430338598VAT =Value Added Tax.There is no product or service with a bet so VAT cannot apply.Starting a thread from a rumour then backing it up with tabloid newspaper speculation is quite worrying that there are people that credulous around.Was it not New LaboWed, 21 Apr 2010 12:18:27 -0500If you are a gambler....you are not "in business" so you can't register for VAT.Under current legislation I agree. But if gambling outputs are to be taxed then surely it will be impossible not to be able register. Under EU Section something or othehttps://community.betfair.com/general_betting/go/thread/view/94082/23869970/vat-and-gambling?post_id=430338594#430338594If you are a gambler....you are not "in business" so you can't register for VAT.Under current legislation I agree. But if gambling outputs are to be taxed then surely it will be impossible not to be able register. Under EU Section something or otheWed, 21 Apr 2010 07:58:05 -0500brendanuk1 21 Apr 13:47 this is already a politics thread. Its clealy Tory FUD and if it needs to be reminded Labour were the ones to get rid of the betting tax in the first place. With Brown as ChancellorThey didn't. It was largely fiscal neuhttps://community.betfair.com/general_betting/go/thread/view/94082/23869970/vat-and-gambling?post_id=430338590#430338590brendanuk1 21 Apr 13:47 this is already a politics thread. Its clealy Tory FUD and if it needs to be reminded Labour were the ones to get rid of the betting tax in the first place. With Brown as ChancellorThey didn't. It was largely fiscal neuWed, 21 Apr 2010 07:54:41 -0500transactions ........https://community.betfair.com/general_betting/go/thread/view/94082/23869970/vat-and-gambling?post_id=430338586#430338586transactions ........Wed, 21 Apr 2010 07:51:51 -0500Alex the old wrinkled retainer - If you used to advise on tax.......some of your suggestions above are open to being interpreted as advocating fraudulent transations !If you are a gambler....you are not "in business" so you can't register for VAT.Buihttps://community.betfair.com/general_betting/go/thread/view/94082/23869970/vat-and-gambling?post_id=430338582#430338582Alex the old wrinkled retainer - If you used to advise on tax.......some of your suggestions above are open to being interpreted as advocating fraudulent transations !If you are a gambler....you are not "in business" so you can't register for VAT.BuiWed, 21 Apr 2010 07:51:23 -0500this is already a politics thread. Its clealy Tory FUD and if it needs to be reminded Labour were the ones to get rid of the betting tax in the first place. With Brown as ChancellorTalk of proles, 1 billion raised and such like is pure shiote. Just chttps://community.betfair.com/general_betting/go/thread/view/94082/23869970/vat-and-gambling?post_id=430338578#430338578this is already a politics thread. Its clealy Tory FUD and if it needs to be reminded Labour were the ones to get rid of the betting tax in the first place. With Brown as ChancellorTalk of proles, 1 billion raised and such like is pure shiote. Just cWed, 21 Apr 2010 07:47:46 -0500