New gambling tax in the next budget

[Archery1969]

If you sign up to GamStop and self exclude you can still spend upto £500 per month playing on-line lottery. That seems really weird to me as it’s still gambling.

[jamesedwards]

If you sign up to GamStop and self exclude you can still spend upto £500 per month playing on-line lottery. That seems really weird to me as it’s still gambling.

But don't worry, because half of your losses end up funding "good causes".

[jamesedwards]

If you sign up to GamStop and self exclude you can still spend upto £500 per month playing on-line lottery. That seems really weird to me as it’s still gambling.

...and don't get me started on charity lotteries where the primary raison d'être is to fund its own bloated cost base.

[jimibt]

If you sign up to GamStop and self exclude you can still spend upto £500 per month playing on-line lottery. That seems really weird to me as it’s still gambling.

...and don't get me started on charity lotteries where the primary raison d'être is to fund its own bloated cost base.

wonder if that would (in your view) include Climate Action Fund??

[CloseBets]

..........................

Anyway, whatever tax the government may add, it is the punters who will always end up paying.

Few punters cared back in the day when it was 9% so doubt your recreational punter would care again enough to stop. Now we have 'point of consumption' in place no reason not to bring it in again.

[ForFolksSake]

This seems to have gone under the radar on this forum of recent

.... Gambling shares plunge by £4bn over Reeves tax raid fears

[Naffman]

If the racing tax goes through, what happens?

Do we get a turnover charge style tax on bets? And what it be limited to just UK racing or other jurisdictions?

[jamesedwards]

If the racing tax goes through, what happens?

Do we get a turnover charge style tax on bets? And what it be limited to just UK racing or other jurisdictions?

As far as I understand it, it would mean betting companies were taxed at a rate of 21% on their profits from horse racing rather than the existing 15%. It doesn't mean the punter is taxed directly, but it could lead to reduced racing focus in the industry and reduced value offered by bookmakers.

[sionascaig]

If the racing tax goes through, what happens?

Do we get a turnover charge style tax on bets? And what it be limited to just UK racing or other jurisdictions?

The proposal seems to be to tax the company rather than the gambler (directly).

Items being looked into specifically seem to be online casino activities and the use of shells to move profits into low taxation jurisdictions.

Comparisons are being drawn with taxes on tobacco & alcohol & the gambling taxes paid in America to justify an increase.

Bottom line is the companies are making too much money so "we" should consider taxing them more to address child poverty... And it is justified as current rate are way out of line with other countries.

- from a Gordon Brown think tank...

https://www.theguardian.com/commentisfr ... ld-poverty

[Naffman]

If the racing tax goes through, what happens?

Do we get a turnover charge style tax on bets? And what it be limited to just UK racing or other jurisdictions?

As far as I understand it, it would mean betting companies were taxed at a rate of 21% on their profits from horse racing rather than the existing 15%. It doesn't mean the punter is taxed directly, but it could lead to reduced racing focus in the industry and reduced value offered by bookmakers.

That doesn't sound too bad IMO, it's not great but not as bad as some are making out, unless there's something else that I've not seen. Just tax casino a lot more, its the bookies' cash cow and they won't give that up even with a huge tax increase.

[wearthefoxhat]

If it goes through as it now, it's not a far stretch to imagine a betting tax brought back into the betting shops. Back in the day, it used to be 10%, so something around 5% to start with, if we still want horse racing covered off course.

Betting shops are only surviving cos of the FOBT's and the bet stations that offer inferior odds. Higher tax in those areas, (quite likely) would see even faster shop closures and more retail space available for charity and barber shops.

[tico]

The government will tax anyone apart from their friends the super rich .And sadly all political parties play the same game .
The bookies wont blink , they will just reduce Odds to make up the shortfall .
tico

[Euler]

Gordon Brown keeps trotting out this line about child poverty, but what the press isn't covering is that the measure he is using is relative poverty.

So it's like going to school and seeing your mate has a better iPhone, therefore, you are in iPhone poverty and are suffering from not having a phone as good as your mate. But you still have a decent iPhone.

If your mate buys a new one, then everybody else gets pushed further into iPhone poverty.

It's just another tax, under a different angle to try and make it easier to implement.

[ForFolksSake]

So which tax is paying for all those coming across the channel from France on 'Cruise' ships everyday and then paying them to stay in All-Inclusive hotels

[sionascaig]

Gordon Brown keeps trotting out this line about child poverty, but what the press isn't covering is that the measure he is using is relative poverty.

......

It's just another tax, under a different angle to try and make it easier to implement.

Agreed.

I find it all a bit cynical (the political reasoning).

For the sake of argument say there is genuine child poverty, why on earth then earmark £100m for horse racing, i.e. entertainment, over the issue its supposed to address, child poverty. Utter bonkers.