Horse racing faces fresh risk of ruin as Reeves mulls tax hike on betting

Horse racing faces fresh risk of ruin as Reeves mulls tax hike on betting

CHANCELLOR Rachel Reeves is considering a betting tax rise — placing the struggling racing industry at fresh risk of ruin. The Treasury wants to lift the levy for punts on the gee-gees from 15 to 21 per cent to put in on a par with online gaming, slot machines and casinos. GettyRachel Reeves is mulling a betting tax hike on betting — putting the struggling racing industry at fresh risk of ruin[/caption] Steve Davies/Racingmediapics.co.ukThe Trea…

Labour Opens Door to Massive Tax Hike on Gambling Sector

Yesterday the government quietly launched an open consultation on the tax treatment of remote gambling. In it tax minister James Murray says: "the

Labour must rethink killer-blow tax raid on struggling bookies or...

Naggy stateIN its latest sneaky move, the Treasury is looking at a flat-rate tax of at least 21 per cent on any profits made by the bookies.To , cheered on... #news, #uncategorized, #opinion, #labourparty, #conservativeparty, #bills, #jobs, #costofliving, #budget, #thesunnewspaper, #inflation, #bankofengland, #sunsays, #flyingeze

UK plans single remote gambling tax to simplify the system

The UK government has proposed a new tax structure for remote gambling, suggesting the elimination of the current three-tiered tax system. It is seeking industry feedback on merging the three existing remote gambling taxes into a single rate.HM Revenue & Customs (HMRC) and the Treasury have outlined plans to introduce a unified tax, called the Remote Betting & Gaming Duty (RBGD), which would apply across all remote gambling activities. Industry …