All posts by Stephen Hignett, Tax Partner, CMS

As expected, HMRC has published its response to the consultation on the remote gaming duty (“RGD”) treatment of “freeplays”.  You can find it here.  It has also published draft legislation (as part of the draft Finance Bill 2017) imposing the new RGD charge on freeplays, which has been amended as a result of the consultation (the … Continue reading Details of remote gaming duty charge on “freeplays”

Today’s Autumn Statement confirms that the sweeping changes to the taxation of non-UK domiciliaries (“non-doms”) which are due to take effect in April 2017 remain on track. Further details and legislation on these proposals will be released on 5 December. Individuals will then have just a few months to plan and execute any restructuring which … Continue reading Non-doms

Today’s Autumn Statement included no mention of rates of gambling duty being raised, which is good news. Also not mentioned was any move by the Government to change the VAT rules, such that “business to business” supplies of advertising would be treated as supplied where “used and enjoyed”.  This is the concern that advertising supplies … Continue reading Gambling taxes

Remote Gaming Duty and freeplays When the point of consumption gambling duty rules were being designed in 2014, many bookmakers complained that free and discounted bets should not be subjected to general betting duty, particularly since the equivalent gaming incentives – “free plays” or “free spins” – were not subject to remote gaming duty. The Government’s response … Continue reading Gambling tax Budget news

With the recent introduction of the place of consumption duties (general betting duty, remote gaming duty and pool betting duty – which are to be considered in the Gibraltar Betting and Gaming Association’s judicial review in the High Court next week) and the recent increase in the rate of duty on FOBTs (to 25%), the … Continue reading Budget 2015 – gambling taxes

Today’s budget included the stamping out of various techniques (known as “refreshing” arrangements) that allow companies to use certain types of brought forward losses which might otherwise not be used (sometimes described as being “trapped”). The losses in question are trading losses, non-trading loan relationship deficits (interest expenditure) and management expenses which, in each case, … Continue reading A more straight forward rule would have been refreshing

At the start of this Parliament, the Chancellor introduced changes to the non-dom rules and, at the same time, promised no more; thereby assuring us all that there would be some badly needed stability to these rules. Since then we’ve had various changes (not all of which were intended to raise revenues – e.g. business … Continue reading “There will be no more changes to the non-dom rules in this Parliament… Unless we badly need some votes.”

Here’s a good idea! Sole trader sets up a company and sells his or her business and assets (mainly goodwill) to the company for market value (that market value amount being left outstanding as a debt).  This triggers a capital gains tax charge payable under self-assessment on the gain realised and, with entrepreneur’s relief (“ER”), … Continue reading “ER” today, gone tomorrow

FOBTs The increase in the rate of Machine Games Duty from 20% to 25% for machines with the highest value stakes and winnings seems to have taken the market by surprise.  Both William Hill’s and Ladbrokes’ share prices plummeted following the announcement.  What is certainly surprising is that, despite the recent media coverage, there was … Continue reading Budget 2014 : Gambling

In recent years the Rank Group (“Rank”) has been litigating several VAT claims based on “fiscal neutrality” arguments.  There have been many twists and turns in this litigation and the claims have proceeded through the courts in three separate strands. Each of these strands is concerned with a comparison of two types of gambling machine … Continue reading Rank Group: fiscal neutrality case remitted to the First Tier Tribunal