UK: Budget 2014 – changes announced to gambling duties; Levy consultation announced


The Chancellor of the Exchequer gave his Budget speech today.

The Budget document itself is available here.

Gaming duty revalorisation – The government will  increase gaming duty bands in line with RPI for accounting periods starting on or after 1 April 2014.

Bingo duty rates – The rate of bingo duty will reduce to 10% for accounting periods starting on or after 30 June 2014.

Machine games duty – Alongside the work already underway by the Department of Culture, Media and Sport to consider the regulatory treatment of B2 gaming machines which will report before Easter, the Government will create a higher rate of machine games duty at 25% for gaming machines where the charge payable for playing can exceed £5. This change will take effect from 1 March 2015.

Remote gambling taxation – As announced in Budget 2012, the taxation of remote gambling will move to a place of consumption basis. This will take effect from 1 December 2014.

 The 2014 Finance Bill will be published next week, which will finally confirm the precise basis of calculating remote gambling duties.

The Government also announced it “will consult shortly on extending the Horserace Betting Levy to offshore bookmakers. Later in 2014 the Government will go further and consult on wider Levy reforms. This consultation will seek views on a range of options which are likely to include developing commercial arrangements, modernising the existing Levy and a horserace betting right.”

Topics:  Duties, Federal Budget, Gambling, Levy, UK

Published In: Art, Entertainment & Sports Updates, International Trade Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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