General Betting
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23 Aug 11
08:55
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23 Jan 02
breakfast TV are continually showing a guy in cleethorpes suggesting there is to be a new taxation on gaming machines that is based on potential profits, anyone??
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I cant believe this is not happening already. Why would the govmt be happy charging a licence fee of £2525 per machine when they are making about £150k a year. 15% of 150k would make them ten times as much.
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I'd assume that these earnings came under the same category as any bookmaker earnings. It's gross profit taxt these days, isn't it? I presume that the license fee would be in addition to GPT.
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Gaming machines
Finance Bill 2011 will contain legislation to allow HMRC to proceed with and develop the newly announced Machine Games Duty, which will be a profits-based duty. This new duty will replace Amusement Machine Licence Duty, and any games played on machines liable to the new tax will become exempt from VAT. What might this mean for you? The change in the VAT liability to 'exempt' will have a major effect on the VAT recovery position of a business that earns income from gaming machines. Depending on the rate of the new gross-profits based duty it is possible that, when taken with the additional VAT cost, some businesses will have a substantially higher indirect tax burden |
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At the moment you pay £2525 whether your machine wins £200 or £20000, so a small independent pays the same as a national with machines making fortunes.
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maine road
if it is a 15% tax on machine profit and you are allowed to mix it with over the counter profit which i presume is still 15% then being a one man band this will go in your favour as you can put on a couple of late ones so make a loss on the otc to cover the amld tax. if customs/g commission come down tell them you dont put film in the old camera to save on costs as that is not law yet |
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Goggles them days are gone, because the overheads are so high you need to bank a significant amount just to stand still. If you do as you say, you would end up not putting enough in the bank. In the old days yes, but now its not the same. The gaming machine companies will probably deduct the tax from your winnings thus stopping you getting anywhere near it anyway, just as they now do with the licence.
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maine road
i know what you are saying about regarding the exes but if your lucky enough to win otc as well on the week at least you can put one on to wipe some of that out if you are allowed to combine both and hopefully just cover the exes and a bit more. so 4 machines a week machine licence is approx a bottle a week so if your machines win more than 1500.00 a week then you will pay 225.00 a week is that right. the big firms must be a little nervous on that one as i know not all there shops are great machine shops but i know of a couple that average a win of at least 10k a week and another that go between 15 to 20 k a week profit and thats just one company then that taxation is one hell of a jump. but then its not surprising its come to this as they have opened up shops on the high streets of north london left right and centre and they were forever spouting off about the earning potential of these machines but no one asks where the money comes from to feed them considering we have been in recession |
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Goggles June 28 days machines
Stakes £106621 payout £104057 profit £2563 - licence £420 - share £489 leaving profit of wait for it........... £1654 the 15% wont make much difference to me but once they make more than 3k a month you lose out. |
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average win per machine per shop per week.
lad £820 will £900 cor £900 if anyone interested!! |
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is playing gaming machines in shops or amusement arcades different from playing online??
will both be subject to new legislation ? |
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In Glasgow you have 3 Ladbrokes Shops within 100 yards of each other (1st to 3rd) when you exit Central Station. You also have a Billies and a Bald One next to each other along with one of the three Laddies, also a Powers round the Corner.
That is 6 Betting Shops within 30 seconds of each other, all because of them FOBTS. |