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Background
The Betting & Gaming sector in the UK can be categorised into
the following groups:
- General Betting Duty – e.g. betting
with bookmakers on horse racing and other events
- Amusement Machines – e.g. "one
armed bandits"
- Gaming Duty – casinos
- Bingo
- Pool Betting Duty
- Lotteries
Off-shore, internet and on-line betting and new technology have created all
sorts of dilemmas for the regulatory and
revenue authorities,
not least over issues such as the relevant
jurisdiction and place of supply of the
bet or transaction. For instance, what happens
when the win/lose decision is made by
a remote server rather than the machine
actually being played? Or where the bet is placed in
one jurisdiction but the " book " is made up in another? Furthermore,
hybrid betting and gaming transactions
are expanding with the technology often
outpacing legislation.
How can we help?
We can help with the following:
- Basis and calculation of duty;
- Accounting for duty;
- Record Keeping;
- Determining the tax status of a bet;
- Negotiating with HM Customs & Excise and other regulatory bodies;
- Modernisation of gambling taxes and new legislation;
- Money Laundering issues.
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