All posts with the topic: VAT

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

At the end of last year we highlighted important changes to the VAT rules on the cross-border supply of digital services (such as digital downloads, e-books or online gaming) to individual customers, and how, without a financial threshold above which the rules would apply, they would create a costly administrative burden for internet start-ups (our … Continue reading VAT in the Digital Single Market: is help on its way for internet start-ups?

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

The Court of Appeal has handed down its keenly anticipated judgment in a landmark case on the recoverability of VAT on deal fees relating to corporate takeovers.  The background BAA plc (“BAA”) was acquired by a newly incorporated company (“Bidco”) backed by a consortium of investors. Professional fees were incurred by Bidco in relation to … Continue reading VAT recovery on corporate deal fees: an update and further guidance following a recent Court of Appeal decision

Rumours are flying around the City about what George Osborne will say in his budget on Wednesday. His objectives (often conflicting) will be to come up with measures which foster enterprise and innovation and make the UK a more attractive place to do business whilst increasing tax revenues and clamping down on tax avoidance (and … Continue reading Predictions for the Budget 2013

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

HMRC now accepts that the grant of a long lease subject to existing leases is capable of being a transfer of a going concern (TOGC) for VAT purposes, provided that the lessor’s retained interest is small enough not to disturb the substance of the transaction, being the transfer of the lessor’s property letting business to … Continue reading Grant of lease can be a TOGC – HMRC reverses its position

So what does it say in the fine print of the Budget Press Release about the changes to gambling duties?  Not a huge amount, but here’s the gist of it: � – Machine games duty (MGD) will come into force on 1 February 2013 (and, at the same time, AMLD will be abolished and gaming … Continue reading Further gambling duty update

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 … Continue reading Changes to gambling duties

We’ve all heard the reports of small CD  retailers (and the like) going out of business due to LVCR (or “low value consignment relief”).  This is the rule which exempts from VAT goods (such as CDs) imported into the UK from outside the EU with a value of £18 or less.   Following the Budget, the threshold … Continue reading VAT and LVCR (the £18 rule) – “Big deal!”