Yn ddilys o 31/03/2002
[F1[F27E Net pool betting receipts: expenses and profitsU.K.
(1)Subsections (2) and (3) apply for the purpose of calculating E in a calculation under section 7A.
(2)The expenses and profits falling within this subsection are (subject to subsection (3))—
(a)those of the person whose net pool betting receipts are being calculated, and
(b)those of any other person concerned with or benefiting from the promotion of the betting concerned.
(3)Expenses and profits do not fall within subsection (2) so far as they are—
(a)provided out of amounts due, in respect of bets that are dutiable pool bets for the purposes of the calculation, to the person whose net pool betting receipts are being calculated, or
(b)referable to matters other than—
(i)the promotion or management of the betting concerned, or
(ii)activities ancillary to, or connected with, such promotion or management.
(4)The Commissioners may by regulations make provision as to the accounting period to which expenses and profits falling within subsection (2) are to be treated as attributable for the purpose of calculating E in a calculation under section 7A.
(5)Regulations made under subsection (4) may—
(a)make provision that applies generally or only in relation to a specified description of bet;
(b)make different provision for different purposes;
(c)make provision applying in respect of expenses incurred, and profits accruing, before the regulations are made (including any incurred or accruing before the passing of the Finance Act 2002);
(d)make transitional provision.]]
Textual Amendments
F1Cross-heading and ss. 1-5D substituted (6.10.2001 with effect as mentioned in art. 2 of the commencing S.I.) for ss. 1-5 by 2001 c. 9, s. 6, Sch. 1; S.I. 2001/3089, art. 2
F2Ss. 6-8C and preceding cross-heading substituted for ss. 6-8 (24.7.2002 for specified purposes and otherwise retrospective to 31.3.2002 with effect as mentioned in s. 12(3) of the amending Act) by Finance Act 2002 (c. 23), s. 12, Sch. 4 Pt. 1 para. 2