As expected, the Chancellor has announced that gaming machines will be moved into the VAT exemption for gambling and, at the same time, a new Machine Games Duty will be introduced (being a form of GPT for machines). The news is that the headline rate of the new duty will be set at 20%. More details will follow when we see the small print.
He has also, as expected, announced:
– a consultation on the proposal to move gambling duties onto a place of consumption footing (this follows the informal consultation that ended on 30 November last year); and
– the introduction of double tax relief for certain gambling duties from this April (this is intended to ensure that the same gambling transaction is not subjected to both UK duty and duty levied by certain other jurisdictions simultaneously).