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Taxation on gambling to raise £1.1 billion>>>>>>
Taxation on gambling to raise £1.1 billion>>>>>>
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Replies: 113
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The best result Horse Racing could have asked for
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I did think the shop bookies machines would have got a slight increase.
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will Rachel be taxing tobymugaryliar on his £600,000 cistern?
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General betting duty, paid on other forms of sports betting, will remain at 15 per cent in betting shops - but from April 2027 will rise from 15 to 25 per cent online.
Looks like bookies will want you to put your footie bets on in the shops from April. |
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April 2027
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The OBR also revealed abolition of bingo duty from its current ten per cent rate. Good news for your new year afternoons Rico
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betting exchange commission is a specific sub-category of general betting duty liability, so let's hope that they leave that unchanged to avoid complications. I can't see BF having a lower rate of commission on horse racing than other sports, if they feel that they have to raise commission. Poker is going to get facked with 40% duty. It's already in decline - this might see any uk focussed sites pulling out.
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Surely now, Big corp will encourage people to bet on more Horse Racing? I really think this is a Massive Win for Horse Racing
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"I can't see BF having a lower rate of commission on horse racing than other sports" Wouldn't be sure about that. How can they leave them the same if they are being charged more for sports profits ?
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Rico I would get your order in for dish before they stop installing them
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can buy a dish and get a satellite installer to line it up..next door has a sky dish that hes never used since i sold him the house in 2018.
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1.01 The Racing Post will soon post headlines saying Horse Racing hit hard or something similar. Instead, the industry should be very pleased with the outcome.
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How can they leave them the same if they are being charged more for sports profits ? My point is that they'll just raise comm on everything
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I've got the where for all for a good few NEW yrs of, 40 grand between me and Mrs in cash ISA,s, 12 grand limited would have added a few more yrs getting it invested free of tax,
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so you will still be using your mates box ?
"How can they leave them the same if they are being charged more for sports profits ? My point is that they'll just raise comm on everything" They could do but it wouldn't be fair on horse punters would it ? |
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Betfair charge different commission for Autralia based bets so they could seperate the markets between horse racing and everything else. Just think they'll take the oppertunity to raise the 2% across the board and blame the budget.
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*Australia
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depends what purple do. we only got 2% because of them
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aye howey 'if'i decided to play from home.
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What about people who buy shares in companies=thats gambling
are they going to pay higher tax? A lot of MP'S like to gamble on the stock exchange |
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There are so few real changes that I can't see any improvement in public finances before 2028. Could that be because we have local elections in May? And of course the extra for Wales is all about the assembly elections on the same day.
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There's party politics obviously, especially the benefits giveaway is internal politics. The reason why they are making changes in the distant future is the absurd system of the OBR calculating everything based on a five year forecast. They can't actually forecast accurately for next quarter, never mind 30/31.
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bnpl, government style
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klarna keir
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So if this doc is correct
https://www.gov.uk/government/publications/changes-to-gambling-duties/gambling-duty-changes The duty on exchanges remains the same, as it doesn't mention any amendment to the relevant law. |
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Dave exchanges will have to pay 25% on online sports betting won't they ? Or are you saying it's possible exchanges will stay on 15% for everything ?
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So if this doc is correct
https://www.gov.uk/government/publications/changes-to-gambling-duties/gambling-duty-changes The duty on exchanges remains the same, as it doesn't mention any amendment to the relevant law. |
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Hurray........
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141General betting duty charge on betting exchanges
(1)This section applies where— (a)one person makes a bet with another person using facilities provided by a third person in the course of a business, and (b)that business is one that does not involve the provision of premises for use by persons making or taking bets. (2)General betting duty is charged on the amounts (“commission charges”) that any party to the bet who is a UK person is charged, whether by deduction from winnings or otherwise, for using those facilities (3)No deductions are allowed from commission charges. (4)The amount of duty charged under this section in respect of bets determined in an accounting period is 15% of the commission charges relating to those bets. . That would have to be amended and they don't mention doing so. |
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entain up 3.4% today.
is fred still closing all his shops and moving to an Amish community in Ohio ? |
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obv they can do so at a later date, we won't know for certain until the finance bill is published
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A new rate of General Betting Duty will be introduced for general bets made remotely (for example online) from 1 April 2027. The remote rate of 25% will apply to all remote betting other than remote bets on UK horseracing which will remain unchanged.
Sounds like Betfair will pay 25% on sports to me. Unless you were correct that exchanges were treated differently and will continue to be so. Believe that when I see it. |
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They surely can't charge online bookies 25% on sports bets and exchanges 15% Dave
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howard I've given you the law setting the rate of duty on betting exchanges. I've linked the document where the government details the changes in the law it's going to make.
Legislation will be introduced in Finance Bill 2025-26 that: amends section 155(3) of Finance Act 2014. The Remote Gaming Duty rate will be amended to reflect the increase from 21% to 40% adds new sections to Part 3, Chapter 1 of Finance Act 2014 to introduce the new remote betting duty rate of 25% That says nothing about s141. As I said they could go errr let's add this in later. But on the face of what they have published, there is no change. |
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Exchanges should boom now ...?
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Dave they don't have to mention it. Sports betting goes above any other category. Anyone doing sports betting will pay 25%. It may be written somewhere in time or not. Not a snowball's chance in hell laddies online footie will pay 25% and exchanges online footie pays 15%.
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Howard in a document that details all the changes in the law they are going to make, they have to mention all the changes in the law they are going to make. I cba arguing with you any more. If they don't amend s141 of that Act, exchanges still pay 15% duty.. end of
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they will amend it that's the bottom line and that's all that counts. There's no argument other than you pointing out something that's not in the small print at the moment. If you have any brain you will know what's coming.
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Don't have a go at Dave. All he's done is usefully point out that our rulers don't seem to have noticed this potential ambiguity. In fact, considering how many years it is since the tax legislation for exchanges came into effect, we're probably ruled now by a generation which simply doesn't understand what a betting exchange is. I mean, let's face it, few people do. Too complicated innit.
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They will look at this thread and make amendments
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