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Tax Changes for UK Online Gambling
TAX CHANGES AHEAD FOR U.K. ONLINE GAMBLING
Draft legislation aims to level the online - retail tax playing field.
Draft legislation has been prepared by the UK government proposing tax treatment changes to the country’s online gaming industry designed to bring it in line with fixed-odds general betting, according to a report in Bloomberg business news.
Her Majesty’s Revenue and Customs has indicated in an August 9 consultation that it intends to remove the current tax imbalances between the two industries by making online gaming companies pay taxes in the same way as betting companies do on free plays that they offer to customers.
London analysts have opined that online gambling operators have hitherto enjoyed "more generous tax treatment" from the government, and that the proposals are a clear attempt to "level the playing field" with the gaming and betting industry. As a result, some operators may find it necessary to offer better winning opportunities instead of free-plays, one suggested.
Online gaming is subject to the U.K.’s 15 percent on profit remote gambling tax, while fixed-odds betting and pooled bets on horses and dog racing are subject to general betting tax. Free plays, such as free spins in bingo, are omitted in tax calculations for online gaming companies, but are included for betting companies under general betting duty.
From August 2017, free plays from online gaming companies will have a taxable value for tax purposes under the remote gambling tax, HMRC has proposed..
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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