Budget 2012: A machine games duty will be introduced.
- Matt Vinyl
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Budget 2012: A machine games duty will be introduced.
Any thoughts on what this may mean chaps and if it's relevant to 'us'? I would've thought it would've been worded as "Games Machine duty will be introduced", but...
Can't find any further details as yet...
Can't find any further details as yet...
"And do you ever contradict yourself, Minister?" "Well, yes and no..."
http://www.itv.com/news/update/2012-03- ... ng-duties/ looks like they've been trying to avoid VAT and government have got fed up with it. They'll probably have to pay 20 on all profit from the fruits. Wonder if they'll get a rebate when an emptier comes out? :-)
- Matt Vinyl
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- Posts: 7198
- Joined: Wed May 11, 2005 6:56 pm
- Location: Lost in the outback, Bryan
From the Beeb's 'At A Glance' pages... Could we see the return of £5 / £8 / £10 JP machines in the local boozer?As for gambling, the tax regime is being changed significantly there too.
A new Machine Games Duty for the gambling industry will come in, at a standard rate of 20%, with a lower rate for "low-prize" machines of 5% of net takings.
The new gambling tax regime will also be altered to discourage online gambling firms from moving offshore.
"And do you ever contradict yourself, Minister?" "Well, yes and no..."
The fact that the cash box takings should be subject to VAT has been challenged in the courts numerous times. What could have happened is that the judiciary rule that this is the case and the Treasury miss out on a lot of money. All that's been done here I think is that they're just renaming the tax that is paid. Seems strange as well that it's set at 20%, same as VAT. We won't be seeing any sudden changes I don't think.
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Yes the new tax will replace VAT and AMLD. Based on the Treasury's impact assessment, the change will be revenue neutral across the whole sector with some winners and losers. They expect that on average pubs and arcades should end up paying less tax whilst the bookies and casinos will pay a bit more.Cf wrote:And it looks like AMLD is going.
So it used to be pay ~£1000 per machine + 20% VAT.
Now it's just pay 20% of profits per machine.
So could actually seem like good news...