Government to change gambling taxation

[andyfuller]

My advice to you would be take your 250K a year and look at developing your potential on the side and see if you feel it is for you.

The PC is an allowance of £250,000 over your lifetime not a year! So for some that is less than £25,000 a year for the time BF have been around.

In the not to distant future it will be equal to just £12,500 for each year BF have been around and forever getting less and less.

You don't have to be a genius to be earning that kind of money on BF.

[mugsgame]

250K a year??????

Behave

The thing is when you have a job you turn up for your contracted hours and they pay you an agreed wage.

You don't risk £1000's a day. If your ill you get paid. If you go on holiday you get paid. Don't fall into that old trap that everyone who makes a living on Betfair deserves to pay the charge. Things are sometimes not quiet what they seem.

[andyfuller]

BF shares are down 1.69% at present - can't remember how much they have spent on relocating but it was quite a lot I believe and were planning on reaping the rewards of lower taxes in the years to come which will now not happen especially when you think most of their clients are UK based!

As an aside there is nothing for racing to get excited about as there is nothing in the Budget that touches the Levy. But if the bookmakers move back they will then have to also pay the Levy which is an extra 10% so I wonder if they will remain offshore and just enjoy the savings of avoiding the Levy on horse racing business and being able to continue to pay lower taxes on non UK customers as appropriate.

As for BF they have committed to pay the Levy voluntarily so they are worse off now than when they left given the moving costs.

Wonder who made that decision and if they still have a job?

[superfrank]

As for BF they have committed to pay the Levy voluntarily so they are worse off now than when they left given the moving costs.

daft short-termism by business as usual - it was blindly obvious that the govt would level the playing field sooner or later. they'd have been better off lobbying for that earlier rather than going offshore.

[steven1976]

Sorry guys i miss read it as a yearly profit of 250K. Dont get me wrong, I would love to have a salary job. Im on the other side of the fence with around 60 direct employees, and if it isnt one thing its another, constant pain in the bum, but as with anything if you can get through the first couple of years it usually turns out to be the right decision.

Im not from the point of view that "everyone who makes a living on Betfair deserves to pay the charge." I dont agree with that, but I have my views on why they did it and although their bottom line is the main one i also believe their are some other factors.

[dav3214]

This tax charge is linked to the proposals to make UK licensing compulsory for firms serving UK customers. France Spain Italy etc have all done the same thing.

The EU is looking at the whole remote gambling market after a white paper and consultation, but if every country sees punters as an easy mark, it is unlikely that competition (between tax regimes and companies) will ever become a reality.

[tasleem]

how much taxed you have paid for it?