Betfair and BHA agree deal on funding

[hgodden]

And BHA withdraw from juditional review of Levy boards decision that exchange users shouldn't pay levy.

http://www.racingpost.com/news/live.sd?event_id=184517

Sounds like good news. William Hill apparantly might continue their crusade but good luck with that!

[Euler]

Looks like a sensible and forward thinking deal on behalf of both parties. Racing needs to get on a more commercial footing.

[mugsgame]

Relieved about this, this was the biggest threat to BF

[andyfuller]

Relieved about this, this was the biggest threat to BF

Seems the fight isn't over just quite yet:

http://www.markxdavies.com/2012/07/04/c ... ombatants/

[dav3214]

There is still the 15% point of consumption tax to come though

[Iron]

Interesting article, given that in the debate on the levy a couple of years ago, only a handful of MPs bothered to turn up, and most of them only did so to talk about their constituency's race course!

Perhaps some MPs feel that the public anger towards the gambling activities of banks might mean that there would now be greater public support for taking a hard line on gambling in other spheres...

Jeff

Seems the fight isn't over just quite yet:

http://www.markxdavies.com/2012/07/04/c ... ombatants/

[mugsgame]

There is still the 15% point of consumption tax to come though

If this is the tax to pay money into your account it doesn't apply to me.

[mugsgame]

Relieved about this, this was the biggest threat to BF

Seems the fight isn't over just quite yet:

http://www.markxdavies.com/2012/07/04/c ... ombatants/

If as Mark says the MP's are going to push through something else they had better hurry up. There is no chance that these muppets will be in Government again anytime soon.

[hgodden]

There is still the 15% point of consumption tax to come though

If this is the tax to pay money into your account it doesn't apply to me.

What's all this one about?

[mugsgame]

There is still the 15% point of consumption tax to come though

If this is the tax to pay money into your account it doesn't apply to me.

What's all this one about?

It looks like some sort of transaction charge to fund accounts. I googled it

[steven1976]

Tax on any overseas operators I guess according to the below

http://pokerfuse.com/news/law-and-regul ... operators/

"Operators anywhere in the world will be required to pay gambling duties on revenue generated from customers based in the UK"

Wont affect me as im overseas.

[steven1976]

Following on to that, i think they would find it very hard to implement. I cant see companies overseas declaring everything to the UK.

[Euler]

It's GPT. When Gambling was de-regulated they switched from taxing bets to a tax on gross profits. By going offshore companies were able to avoid this. It is moving to a point of consumption tax, so that will mean there is no benefit for offshoring.

[mugsgame]

I got that well wrong - sorry

[andyfuller]

Following on to that, i think they would find it very hard to implement. I cant see companies overseas declaring everything to the UK.

I guess they would try to implement it the American way, step inside this country if you are a director and be meet at the arrival lounge by the boys in blue.

The Americans got some pretty high profile figures that way. Also quite a few of the main players are listed on the UK stock markets so I am sure there would be a way of going after them if they don't pay.

My guess is all bar the few would break the law and not pay.